The government of a small country conducts a phone survey of randomly selected h

Question

The government of a small country conducts a phone survey of randomly selected households and obtains the following information from citizens: S. Potter is a career soldier in the US Army. B. Ash lives in Arizona where there are no jobs for deep-sea divers. He does not have a job but looks for one every day. He is trained as a deep-sea diver. S. Beech says “I don’t have a job, but I looked for one last week.” She is lying, she’s never really looked for a job, but the government doesn’t know this. C. Chestnut voluntarily quit her job as a waitress last week, and is actively looking for a better job as a nuclear physicist, a job she has been trained for. (looked for a job yesterday). D. Fir lost his job as a tree surgeon two weeks ago when a recession caused the company where he worked to close. He is actively looking for work. (looked for a job last week). E. Ebony is 50 years old, has never had a job and has never looked for one. Mr. Loon is crazy. He is institutionalized at a state mental hospital where he has a job teaching bird calls to other inmates. Dr. Doolittle, a medical doctor, is working as a manager at Taco Bell 1 hour a week. M. Rooney is 5 years old. He works as an actor and makes $1 million a year. J. Seward lives in Alaska. He has not looked for a job for the past 6 months. B. Gates voluntarily quit his job as CEO last week in order to look for a new job that would better use his skills as a talk-show host. He doesn’t have a job, but is actively looking for one. M. Wallace is 93 years old. He works as an anchor-man for a TV network. He also works nights delivering pizza for Dominos pizza. Finally, he works once a week at the CBS Bar and Grill as a bartender. J. Cleaver works 100 hours a week taking care of Wally and the Beav. She receives $50/week in pay. Given the above information, calculate: The number of unemployed people is The number of employed people is The labor force = The unemployment rate is %. and are frictionally unemployed is cyclically unemployed. is structurally unemployed. The government of a small country conducts a phone survey of randomly selected households and obtains the following information from citizens: S. Potter is a career soldier in the US Army. B. Ash lives in Arizona where there are no jobs for deep-sea divers. He does not have a job but looks for one every day. He is trained as a deep-sea diver. S. Beech says “I don’t have a job, but I looked for one last week.” She is lying, she’s never really looked for a job, but the government doesn’t know this. C. Chestnut voluntarily quit her job as a waitress last week, and is actively looking for a better job as a nuclear physicist, a job she has been trained for. (looked for a job yesterday). D. Fir lost his job as a tree surgeon two weeks ago when a recession caused the company where he worked to close. He is actively looking for work. (looked for a job last week). E. Ebony is 50 years old, has never had a job and has never looked for one. Mr. Loon is crazy. He is institutionalized at a state mental hospital where he has a job teaching bird calls to other inmates. Dr. Doolittle, a medical doctor, is working as a manager at Taco Bell 1 hour a week. M. Rooney is 5 years old. He works as an actor and makes $1 million a year. J. Seward lives in Alaska. He has not looked for a job for the past 6 months. B. Gates voluntarily quit his job as CEO last week in order to look for a new job that would better use his skills as a talk-show host. He doesn’t have a job, but is actively looking for one. M. Wallace is 93 years old. He works as an anchor-man for a TV network. He also works nights delivering pizza for Dominos pizza. Finally, he works once a week at the CBS Bar and Grill as a bartender. J. Cleaver works 100 hours a week taking care of Wally and the Beav. She receives $50/week in pay. Given the above information, calculate: The number of unemployed people is The number of employed people is The labor force = The unemployment rate is %. and are frictionally unemployed is cyclically unemployed. is structurally unemployed. The government of a small country conducts a phone survey of randomly selected households and obtains the following information from citizens: S. Potter is a career soldier in the US Army. B. Ash lives in Arizona where there are no jobs for deep-sea divers. He does not have a job but looks for one every day. He is trained as a deep-sea diver. S. Beech says “I don’t have a job, but I looked for one last week.” She is lying, she’s never really looked for a job, but the government doesn’t know this. C. Chestnut voluntarily quit her job as a waitress last week, and is actively looking for a better job as a nuclear physicist, a job she has been trained for. (looked for a job yesterday). D. Fir lost his job as a tree surgeon two weeks ago when a recession caused the company where he worked to close. He is actively looking for work. (looked for a job last week). E. Ebony is 50 years old, has never had a job and has never looked for one. Mr. Loon is crazy. He is institutionalized at a state mental hospital where he has a job teaching bird calls to other inmates. Dr. Doolittle, a medical doctor, is working as a manager at Taco Bell 1 hour a week. M. Rooney is 5 years old. He works as an actor and makes $1 million a year. J. Seward lives in Alaska. He has not looked for a job for the past 6 months. B. Gates voluntarily quit his job as CEO last week in order to look for a new job that would better use his skills as a talk-show host. He doesn’t have a job, but is actively looking for one. M. Wallace is 93 years old. He works as an anchor-man for a TV network. He also works nights delivering pizza for Dominos pizza. Finally, he works once a week at the CBS Bar and Grill as a bartender. J. Cleaver works 100 hours a week taking care of Wally and the Beav. She receives $50/week in pay. Given the above information, calculate: The number of unemployed people is The number of employed people is The labor force = The unemployment rate is %. and are frictionally unemployed is cyclically unemployed. is structurally unemployed.

Explanation / Answer

1. The no. of unemployed people = Ash, Chestnut, Fir, Gates, Cleaver = 5

Unemployment means people in the working age who are actively looking for a job are unable to get one at the prevailing wage rate.

2. The no. of employed people = Potter, Doolittle - 2

3. The labor force = Potter, Ash, Chestnut, Fir, Dr. Doolittle, J.Cleaver, Gates

4. Unemployment Rate = No. of people unemployed/Labour Force = 5/7 = 71%

Frictionally Unemployed =

3. The Labour force = Potter, Ash, Beech,  

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