What is the labor force participation rate

Assignment Help Business Economics

Reference no: EM133365053

Question: Suppose that you are given the following information. Answer the following questions:

labor force 220 million
Adults in the military 1 million
Population below 16 50 million
Employed adults 185 million
Institutionalized adults 3 million
Not in labor force 40 million
a. What is the total population?

b. How many people are unemployed, and what is the unemployment rate?

c. What is the labor force participation rate?

2. In 2020, the cost of a market basket of goods was $1,000. In 2021, the cost of the same market basket of goods was $1,200. Use the price index formula to calculate the price index for 2021, if 2020 is the base year. Show your work.

( Formula: Price Index = Cost of the market basket in 2021/Cost of the market basket in the base year 2020 * 100)

3. Consider the following price indexes:

Year 2021 Consumer Price index: 270.970 Year 2022 Consumer price Index: 292.655

a. Which year is likely the base year?

b. What is the inflation rate from 2021 to 2022?

4. The real interest rate is 5 percent, and the nominal interest rate is 10 percent. What is the anticipated rate of inflation? 1 pt.

5. A nation's frictional unemployment rate is 1%. Its cyclical rate of unemployment is 8 %, and its structural unemployment rate is 5 %. What is this nation's overall rate of unemployment?

Reference no: EM133365053

Questions Cloud

Explain the difference between poverty and scarcity : Explain the difference between poverty and scarcity. How are decisions made differently in a market economy than in planned economies?

What economic, social, and geopolitical factors : discuss what economic, social, and geopolitical factors had contributed to China's failure to achieve modern economic growth before 1950.

Implement in the portfolio best representing your style : Identified any potential company or people you wish to work with, then you should know the design philosophy of the organization to address during the making

Explain why us immigration is more likely to depress wages : Explain why US immigration is more likely to depress the wages of low-skilled workers vs. high-skilled workers. Please include a relevant graph and clearly

What is the labor force participation rate : How many people are unemployed, and what is the unemployment rate? What is the labor force participation rate?

Why does the united states continue to subsidize exports : Countries clearly lose when they subsidize exports. Why does the United States continue to subsidize exports of some of its products?

How did the concept relate to what you already knew : Describe in detail one concept which was mentioned in the article which was very easy for you to understand. Why was the concept easy for you to understand?

Project customer addressed in bible : How is the project customer addressed in the Bible?

Describe black swan event in real : Describe a "black swan" event in a real or hypothetical project and the risk management process steps that might be taken to discover this scenario.

User Account

All Pages