A) labor force divided by the working-age population, then multiplied by 100 B)

Question

A) labor force divided by the working-age population, then multiplied by 100 B) E) 70 million. number of people employed divided by the labor force, then multiplied by 100 C) labor force divided by the population, then multiplied by 100. D) discouraged workers divided by the labor force, then multiplied by 100. E) number of people employed divided by the population, then multiplied by 100 7) The labor force participation rate is the le is 50 million, and the working-age population equals 285 million people, the labor force participation rate is -A) 70.2 percent. B) 81 percent. C) 17.5 percent. D) 25 percent. E) 52.6 percent. 9) A discouraged worker is A) a person who is not happy with his or her job. B) someone who works part time but wants full-time work. C) someone who is asked to work overtime everyday. -D) someone who does not have a job but has given up looking 10) Aggregate hours of work is calculated by E) another name for an unemployed worker. A) multiplying the full-time hours worked by the number of workweeks in a year. B) multiplying the number of people employed by the average hours worked per week by workweeks. C) multiplying the number of full time workers employed by the average hours worked by workweeks. D) multiplying the number of workers by 40 hours per week by 52 weeks. E) multiplying the labor force by the average hours worked and then multiplying by unemployment rate. multiplying by 1 minus the Frictional unemployment is the result of A) an economic recession. B) the economic decline of major industries. C) the normal process of jobs being created and destroyed. D) people not getting along (having friction) with their employers. E) changing weather throughout the year

Explanation / Answer

Ans)

7.
A) labor force divided by the working-age population,then multiplied by 100.
Labor Force Participation Rate=Labor Force/Working age non institutionalized population *100

8.
employed=150 million
unemployed=50 million
working age population=285 million
Labor Force Participation Rate=Labor Force/Working age non institutionalized population *100
Labor Force Participation Rate=(150+50)/285*100
Labor Force Participation Rate=70.17%

9.
D. someone who does not have a job but has given up looking.
A discouraged worker is someone who is unemployed and has stopped looking for work.Discouraged workers are not a part of the unemployment rate.

10.
C)multiplying the number of full-time workers employed by the average hours worked by the number of workweeks.
Aggregate hours of work=number of full time workers*number of hours worked in a year(excluding vacation,sick leaves etc) + any overtime

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