Question

In: Economics

The table below uses data for the year 2014, adjusted to be comparable to each other....

The table below uses data for the year 2014, adjusted to be comparable to each other. All population values are in thousands.

Country Adult
population
Labour
force
Employed Unemployed Unemployment
rate (%)
Labour-force participation rate (%)
Japan 77,550 62,886 2,416
France 30,052 2,975 56.0
Germany 53,387 42,165 5.0










Instructions: Round your answers to one decimal place.

a. Fill in the blanks in the table above.

b. In part a, you should have found that the unemployment rates of the three countries differ significantly from one another. Select the possible reasons to explain why the countries might have different unemployment rates.


Germany could be in a recession and have higher cyclical unemployment, or .Germany could have more powerful unions. or Germany could have higher (and binding) minimum wages. or Japan could have a more liberalized labour market leading to lower frictional unemployment. or Germany and France could have more generous employment benefits. or All of the choices are correct.

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