Question

In: Economics

Which of the following person is not in the labor force? Your neighbor Ben who is...

Which of the following person is not in the labor force?

Your neighbor Ben who is working at Chase Bank, Boston

Ben’s 21-year old son Luca who is a full-time student at UMass Dartmouth, who does not have any job.

Ben’s wife Sofia who is now working part-time for Target as a consultant

Ben’s brother who just lost his job two months ago, who is now actively looking for job every day

Solutions

Expert Solution

Labour force- It consists of employed and unemployed people. Employed people who are working, and those unemployed who are looking for any job or work.

In the four cases given in the question, Ben’s 21-year old son Luca who is a full-time student at UMass Dartmouth, who does not have any job, will not be included in the labour force. As he is a student and doesn't do any work, such people are not included in the labour force.

Apart from that-

Your neighbor Ben who is working at Chase Bank, Boston.

Ben’s wife Sofia who is now working part-time for Target as a consultant

Ben’s brother who just lost his job two months ago, who is now actively looking for a job every day.

These all will be included in the labour force as-

In the first case, Ben is employed; works in a bank.

Ben's wife is also working as a part time, as part time workers are also called employed.

Ben's brother is actively looking for a job, and will also be a part of the labour force.


Related Solutions

Which of these individuals are in the labor force and which are not?
Which of these individuals are in the labor force and which are not? the CEO of Coca Cola a college student who isn't workin and isn't looking for a job a dishwasher at Denny's who wants a better joba former accountant who now stays at home to watch his childrena person who got laid off from his job last week and has a job interview today  a former executive who now is retired and living in FloridaCategoriesNot in the labor force In the labor force
What is the difference between labor force & out of labor force? To which category retired...
What is the difference between labor force & out of labor force? To which category retired population is included?
Income (in 1960 dollars/person) for European countries and the percent of the labor force (in %)...
Income (in 1960 dollars/person) for European countries and the percent of the labor force (in %) that works in agriculture in 1960 are in the table below ('OECD economic development,' 2013). Test at the 8% level for a negative correlation between percent of labor in agriculture and income of European countries. percent of labor in agriculture income 15 1035 36 529 42 290 44 238 11 1361 11 810 25 839 20 977 27 504 20 1013 18 1049 56...
Use the table below to answer the following questions: Labor Force of an Economy Labor Force...
Use the table below to answer the following questions: Labor Force of an Economy Labor Force Number of People (millions) Employed 157.3 Structurally unemployed 5.2 Cyclically unemployed 5.3 Frictionally unemployed 2.9 Instructions: Round your answers to two decimal places. a. Calculate the actual unemployment rate and the natural rate of unemployment for this economy.       Actual rate of unemployment: 7.85% Correct      Natural rate of unemployment: 4.75% Correct b. Now assume that cyclical unemployment decreases by 1.7 million while structural unemployment increases...
Define the following and write each formula: a) Labor force participation rate b) Labor Force c)...
Define the following and write each formula: a) Labor force participation rate b) Labor Force c) Unemployment Rate
32. Which of the following persons is usually NOT an agent? A person who works for...
32. Which of the following persons is usually NOT an agent? A person who works for a multiple listing service A property manager working for a management corporation A broker employed by a seller A person working for someone else under power of attorney
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 168,954 2012 170,664 2008...
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 168,954 2012 170,664 2008 169,691 2013 170,187 2009 168,147 2014 171,274 2010 168,686 2015 172,993 2011 169,031 2016 174,676 Click here for the Excel Data File (a) Make a line graph of the U.S. civilian labor force data. Line Graph A Line Graph B Line Graph C Line Graph D Line Graph 1 Line Graph 2 Line Graph 3 Line Graph 4 (b) Describe the trend (if any)...
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 178,978 2012 180,688 2008...
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 178,978 2012 180,688 2008 179,715 2013 180,211 2009 178,171 2014 181,298 2010 178,710 2015 183,017 2011 179,055 2016 184,700 Click here for the Excel Data File (a) Make a line graph of the U.S. civilian labor force data. Line Graph A Line Graph B Line Graph C Line Graph D Line Graph 1 Line Graph 2 Line Graph 3 Line Graph 4 (b) Describe the trend (if any)...
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 153,918 2012 155,628 2008...
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 153,918 2012 155,628 2008 154,655 2013 155,151 2009 153,111 2014 156,238 2010 153,650 2015 157,957 2011 153,995 2016 159,640 (d) Make forecasts using the following fitted trend models for years 2017-2019. (Round your answers to the nearest whole number.) t Linear Quadratic Exponential 11 12 13
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 168,954 2012 170,664 2008...
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 168,954 2012 170,664 2008 169,691 2013 170,187 2009 168,147 2014 171,274 2010 168,686 2015 172,993 2011 169,031 2016 174,676 (d) Make forecasts using the following fitted trend models for years 2017-2019. (Round your answers to the nearest whole number.) t Linear Quadratic Exponential 11 12 13
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT