26-27] True or False Question [ If true, bubble a. If false, bubble b.J. 26. The

Question

26-27] True or False Question [ If true, bubble a. If false, bubble b.J. 26. The economy reaches full employment when the unemployment rate equals zero. 27. All adults who are able to work are automatically counted as part of the nation's labor force. 28-31] Refer to the following statement to answer the questions The Bureau of Labor Statistics announces that in Dec. 2000, of all Americans, 140 mil were employed and 20 mil were unemployed, 25 mil are not looking for work, 5 mil are in jail or home care center, and 30 mil were age below 16. 28. How big was the labor force? a 160 mil. b. 140 mil c. 220 mil. d. 190 mil. 29. The labor force participation rate is a. 72.7% c. 842% d. 87.5% 30. The unemployment rate of this economy is: a. 9.09% b.10% c. 12.5% d. 14.3%. 31. Suppose, out of 140 mil who were employed, 10 mil were underemployed, while among 25 mil who were not looking for work, 15 mil were discouraged workers. If we treats undereimployed and discouraged workers as unemployed, what is the unemployment rate in 20002 a. 15.63%. b, 24.24%. c. 25.71%. d. 28.13% 32-34] Refer to the following table to answer the questions The overall labor-force participation rate of men declined between 1970 and 1990, whereas the overall labor-force participation rate of women increased sharply between 1970 and 1990. This overall increase reflects diffcerent patterms for different age groups however, as shown in the following table. Men 16-24 (9% Men 25-54 96% 93% Men 56 and over 56% 40% All Men 1970 1990 80% 76% Women 16-24 50% 74% Women 25 -34 45% 74% Women 45-54 54% 71% All Women Women 1970 1990 43% 58% 51% 32. Given this profile, what factor may not have played an important role in declining male labor-force participation rate? a. carly retirement. b. rising divorce rate. c. switching role. d. staying in school longer.

Explanation / Answer

26.False,

In every economy there exists a natural level of unemployment , hence unemployment rate can never be equal to zero in an economy.

27. False

all adults are not considered to be of labor force. It exclude all those who are not looking for works, those who are in jail or home care centre, discouraged labor, serving in military etc

28.a) is correct option

labor force = employed + unemployed

= 140+20= 160 mil

29 correct option is c)

participation rate = labor force/ populationabove 16 age×100%

= 160/190×100%= 84.2%

30 correct option is c)

unemployment rate= unemployed / labor force×100%

= 20/160×100%=12.5%

31.correct ans is d)

Unemployment rate = unemployed / labor force×100%

now unemployed = discouraged+underemployed+unemployed

= 15+10+20=45

Un= 45/160×100%= 28.12%

thanx

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