A hypothetical data shows that, in a year, of all the adult population, 20,500,000 were employed,...

A hypothetical data shows that, in a year, of all the adult population, 20,500,000 were employed, 755,000 were unemployed, 45,000 were workers with part-time jobs looking for full-time jobs, 25,000 were discouraged workers and 8,500,000 were not in the labor force.

Use the above information and calculate the labor force participation rate and the unemployment rate.
Suppose that the natural rate of unemployment is 1.5 percent and the potential GDP is RM 850 billion, how much would be the actual GDP achieved in the above case?
Suppose that 2,500,000 students graduated from higher education institutions and begin to look for jobs. Ceteris paribus, determine the new unemployment rate if none of the students have found jobs yet. How this will change your answer in (b)?
Now suppose that 1,500,000 of the students whom graduated in (c) find jobs and the remaining are not yet employed. Ceteris paribus, determine the new unemployment rate. Clearly show your working for all calculations.
Simulate a scenario in which both employment and unemployment could both possibly increase.

Expert Solution

Rahul Sunny answered 2 years ago

The following data show the U.S. adult population by group in May 2009i. Number employed = 140.57 millionii.

The following data show the U.S. adult population by group in May 2009i. Number employed = 140.57 millionii. Number unemployed = 14.51 millioniii. Adult population = 235.45 millionUse the above data to calculate (20 points)a. the labor force b. the number of people not in the labor force c. the labor force participation rate d. the unemployment rate

In a recent year, 125.8 million adults, or 58.6% of the adult American population, were married....

In a recent year, 125.8 million adults, or 58.6% of the adult American population, were married. In a New England town, a simple random sample of 1,445 adults includes 56.1% who are married. Test the claim that this sample comes from a population with a married percentage of less than 58.6%. Use a 0.05 significance level and conduct a full hypothesis test using the six-step process.

A small country with an adult population of 2.5 million has 1.2 million employed and 100,000 unemployed,

A small country with an adult population of 2.5 million has 1.2 million employed and 100,000 unemployed, and the rest of the adult population is out of the labor force. Calculate the following indicators and show your work.1. Labor force participation rate=2. Unemployment rate=3 . If the number of unemployed persons changed to 130,000, calculate the percentage change in unemployed people.

1) How is the labour-force participation rate defined? A (Employed ÷ Adult population) × 100 B...

1) How is the labour-force participation rate defined? A (Employed ÷ Adult population) × 100 B (Adult population ÷ Labour force) × 100 C (Labour force ÷ Adult population) × 100 D (Employed ÷ Labour force) × 100 2) A foreign governmental statistics agency recently reported that there were 37.6 million people over age 25 who had at least a bachelor's degree. Of this number, 28.0 million were in the labour force and 25.9 million were employed. What was the...

In 2016, 59.7 percent of the adult population (253 million) was employed. If the employment rate increased to 62 percent,

In 2016, 59.7 percent of the adult population (253 million) was employed. If the employment rate increased to 62 percent,Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number.a. How many more people would be working?______ millionb. By how much would output increase if per worker GDP were $122,000?$ _____ billion

U.S. adult population by group, June 2017 Number employed = 153.2 million Number unemployed = 7.0...

U.S. adult population by group, June 2017 Number employed = 153.2 million Number unemployed = 7.0 million Adult population = 255.0 million Calculate the labor force the unemployment rate the labor force participation rate

The table below shows hypothetical data for the volume of gold and nickel output across several...

The table below shows hypothetical data for the volume of gold and nickel output across several years. Gold (troy ounces) Index Nickel (lbs) Index Year 1 1 230 000 4500 Year 2 1 416 000 4551 Year 3 1 349 000 4623 Year 4 947 000 4791 Year 5 1 012 000 4802 Year 6 1 321 000 4867 Year 7 1 450 000 100 5002 100...

there is the interesting scientific data on the population response to the virus (children vs. adult...

there is the interesting scientific data on the population response to the virus (children vs. adult vs. elderly) - how would a clinical trial be affected if enrolling adults vs. elderly? and how the generalizability of the findings be applicable?

Please answer all questions, fill in table and show calculations. The table below shows the hypothetical...

Please answer all questions, fill in table and show calculations. The table below shows the hypothetical prices and quantities demanded of a software product. Assume that the fixed cost of setting up the production of software is $200 and the marginal cost is $5. Fill out the table by calculating the revenue, the marginal revenue, total cost, the marginal cost, and the profit. Give a general definition of price elasticity of demand. Explain the factors that make the demand of...

Use the following data to answer questions: Total population = 300 million. Adult noninstitutionalized civilian population...

Use the following data to answer questions: Total population = 300 million. Adult noninstitutionalized civilian population = 200 million. Unemployed = 7.5 million If the labor force participation rate = 70%, what is the labor force

Question