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In: Economics

Question 6: Fill in the blank entries in the table. All values are in millions....

Question 6:

Fill in the blank entries in the table. All values are in millions.

Country	Adult Population	Labour Force	Employed	Unemployed	Unemployment Rate	Labour-Force Participation Rate
Japan	108.12		63.79	3.20
France		25.98		2.45		56.4 percent
Germany	69.17	39.75			8.08 percent

Please show all work (including mathematical formulas).

Solutions

Expert Solution

Country: Japan

Given

Adult Population=N=108.12 millions

Employed=E=63.79 millions

Unemployed=U=3.20 millions

Labor Force=LF=E+U=63.79+3.20=66.99 millions

Unemployment rate=U/LF=3.20/66.99=4.78%

Labor force participation rate=LFPR=LF/N=66.99/108.12=61.96%

Country: France

Given

Labor Force=LF=25.98 millions

Unemployed=U=2.45 millions

Labor force participation rate=LFPR=56.40%

Adult Population=N=LF/LFPR=25.98/56.40%=46.06 millions

Employed=E=LF-U=25.98-2.45=23.53 millions

Unemployment rate=U/LF=2.45/25.98=9.43%

Country: Germany

Given

Adult Population=N=69.17 millions

Labor Force=LF=39.75 millions

Unemployment rate=u=8.08%

Unemployed=U=u*LF=8.08%*39.75=3.2118 million or say 3.21 million

Employed=E=LF-U=39.75-3.2118=36.5382 million or say 36.54 million

Labor force participation rate=LFPR=LF/N=39.75/69.17=57.47%

Country	Adult Population	Labor Force	Employed	Unemployed	Unemployment Rate	Labor Force Participation Rate
Japan	108.12	66.99	63.79	3.2	4.78%	61.96%
France	46.06	25.98	23.53	2.45	9.43%	56.40%
Germany	69.17	39.75	36.54	3.21	8.08%	57.47%

Rahul Sunny answered 1 month ago

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