Question

In: Economics

Suppose the labor force and unemployment rate in 2001 are given in the following table. What...

Suppose the labor force and unemployment rate in 2001 are given in the following table. What is the slope coefficient estimate b of the regression of the unemployment rate as a function of the labor force?

Country

Labor Force

Unemployment
United States

122

5.5
Canada

13

7.8
Britain

28

8.6
Germany

29

6.1

Question 8 options:

A)

 –0.20.

B)

 –0.020.

C)

 –0.0020.

D)

 –2.0.

E)

 0.020.

Solutions

Expert Solution

Answer to the following question:

Option a: -0.02.

Explanation: The analysis or the estimation is done on the SPSS software for accurate result. The obtained result sheet is pasted below:

Here the dependent variable is the Unemployment rate and the dependent variable is the labour force.

We can see that the Unstandardized coefficient (B) of Labour force is -0.021 which is closer to -0.02.The R^2 is 0.5 which means that 50% of the total variation of the dependent variable is expained by the independent variable.

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Rahul Sunny answered 1 year ago
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