Question

(1). Suppose 80,000 people are employed, 12,000 are unemployed, and 28,000 are not in the labor force. What does the civilian non-institutional population equal?

.

(2). Suppose that some country had an adult population of about 50 million, a labor force participation rate of 60 percent , and an unemployment rate of 5 percent, how many people were employed ?

A. 47.5 million

B. 1.5 million

C. 30 million

D. 28.5 million

Answer 1

(1).Given Data,

80,000 people are employed

12,000 people are unemployed

28,000 people are not in Labour force.

Here we have to find the Civilian Noninstitutional Population and it can be found as follows.

Civilisation noninstitutional Population = {Number of people Employed + Number of people Unemployed + Number of people not in Labour fore}

Substituting the respective given data:-

Civilisation noninstitutional Population = {80,000 + 12,000 + 28,000}

Civilisation noninstitutional Population = 120,000

Hence, the civilation noninstitutional Population is 120,000

(2).

Given Data,

Adult population of about is 50 million

Labour force Participation rate = 60 percent

Unemployment rate = 5 Percent

Here we have to find that How many people are EMPLOYED and it can be calculated as follows:

Number of EMPLOYED = Total labor force * Employment rate

Where,

Total labor force = Adult population * Labor force participation rate

Substituting the given data to find Total labor,

Total labor force = 50 million * 60%

Total labor force = 50 million * 60 / 100

Total labor force = 50 million * 0.6

Total labor force = 30 million

Employment rate = (100% - Unemployment rate)

Employment rate = (100% - 5%)

Employment rate = 95%

So we have got the Total labor force and Employment rate

Substituting the respective value in the formula To find how many people were Employed

Number of Employed = Total labor force * Employment rate

Number of employed = 30 million * 95%

Number of employed = 30 million * 95 / 100

Number of employed = 30 * 0.95

Number of employed = 28.5 million

So the correct OPTION is ''D'' 28.5 million.