Answer to Question #102924 in Macroeconomics for sarai

Question #102924

Suppose 100 million people are in the civilian labor force and 90 7. million people are employed. How many people are unemployed? What is the unemployment rate?

Expert's answer

unemployed, U= 100-90.7= 9.3million

unemployment rate, "UR= (U\/Lf )*100" =( 9.3/100) *100 = 9.3%

Learn more about our help with Assignments: Macroeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Suppose 60 million people are employed, 10 million unemployed, and 30 million not in the labor force
2. Consider an economy that abides by the standard classical model specifications. Suppose policymakers
3. NOMINAL GDP GDP DEFLATOR YEAR (IN BILLIONS) (BASE YEAR 1992) 1993 $725 101.2 1994
4. Suppose that Joe can produce 10 Pizzas or 100 Beers per day. Meanwhile, Bob can produce 20 Pizzas or
5. Consider an economy characterized by the following equations:C = 500 + 0.75Y + 0.05WI = 150where C i
6. 2) U.S. nominal GDP is significantly higher than it was 60 years ago. What does this imply (if anyt
7. A consumer has $25 in budget to purchase goods X & Y. Assume Px = 3 and Py=1. What is the maximu