Question 252.5 pts The catch-up effect refers to the idea that Flag this Questio
ID: 1135540 • Letter: Q
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Question 252.5 pts
The catch-up effect refers to the idea that
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Question 262.5 pts
Suppose some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were unemployed?
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Question 272.5 pts
Table 28-1
Labor Data for Aridia
2010
2011
2012
2000
3000
3200
1400
1300
1600
200
600
200
Refer to Table 28-1. The labor force of Aridia
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Question 282.5 pts
Angelica is an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job. The Bureau of Labor Statistics counts Angelica as
saving will always catch-up with investment spending.Explanation / Answer
Answer:
1- The catch-up effect refers to the idea that:
It is easier for a country to grow fast and so catch-up if it starts out relatively poor.
As the catch up effect theory hypothesise that the poor economy will grow relatively more faster than the developed economy.
2- the number of unemployed people?
1.5 million
Explanation :
Unemployment rate = number of unemployed people / Labour force * 100
Number of unemployed people = unemployment rate * Labour force (employed + unemployed people)
Unemployment rate =. 06 (converted into number from % = 6/100)
Labour force /adult population = 25 million
No of employed people = . 06 * 25 = 1.5 million
3- The labor force of Aridia:
increased from 2010 to 2011 and increased from 2011 to 2012.
As labor force includes employed and unemployed both population and the total labor force or adult population has increased from 2000 to 3000 from 2010 to 2011 and 3000 to 3200 from 2011 to 2012.
4- The Bureau of Labor Statistics counts Angelica as
unemployed, but not in the labor force.
Because she is not looking for the paid job currently and a person who is not seeking for a job is not included in the labor force. Volunteers are also not included in the labor force.
* hope it will help you.
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