Question

4. Unemployment rate is defined as the ratio of which of these:

     a) labor force to the population 16 years old or older.

     b) number of people unemployed to total population.

     c) number of people unemployed to the total population 16 years old or older

     d) none of the above

9. Assume that in 2018, the population 16 years old or older in a small town was 16,500 people,

   the number of employed was 11,000 people, the number unemployed was 2,500 people, the

   labor-force participation rate in 2015 was ------%.

1. 81.81%   (b) 90.91%    (c) 136.36%   (d) 71.43%

10. Which of the following represent the labor-participation rate?

1. the ratio of employment to the labor force
2. the ratio of labor force to the population over 16
3. the ratio of employment to the population over 16
4. the ratio of the labor force to employment

11. If the number of unemployed equals 4.7 million, the number of employed equals 100.3

    million, the labor force equals 125.8 million, and the total population 16 years of age and

    older is 150.6 million, the labor-force participation rate:

1. is 3.1%
2. is 66.6%
3. is 3.7%
4. is 83.5%

Answer 1

4) Unemployment rate= (unemployed/labor force)*100 … option (c)

9) Labor force= employed + unemployed
                                = 11,000+2500 = 13,500
The labor force participation rate =( Labor force/Population)*100
                                                                    = (13,500/16,500)*100 = 81.81% …option (a)

10) The labor force participation rate =( Labor force/Population)*100 … option (b)

11) labor force participation rate =( Labor force/Population)*100
                                                                    = (125.8 million/150.6 million)*100 = 83.53% …option (d)