1. 1. Use these data to answer the following questions. Not in the labor force:
ID: 1215581 • Letter: 1
Question
1.
1. Use these data to answer the following questions.
Not in the labor force: 125,000
Unemployed: 25,000
Employed: 100,000
The labor force participation rate is:
A. 75%
B. 60%
C. 50%
D. 40%
2. Who among the following would be counted as unemployed in the official government statistics?
A. Amber, who is going to school full time and is not interested in working
B. Billy, who is working part time while looking for a full-time job
C. Chuck, who is 14 and is looking for job delivering papers
D. Diane, who has begun to look for work because her daughter has started school
3. Demand-pull inflation occurs when:
A. input costs rise.
B. unemployment is above the natural rate
C. people incorrectly forecast inflation.
D. aggregate demand increases.
1. Use these data to answer the following questions.
Not in the labor force: 125,000
Unemployed: 25,000
Employed: 100,000
The labor force participation rate is:
A. 75%
B. 60%
C. 50%
D. 40%
2. Who among the following would be counted as unemployed in the official government statistics?
A. Amber, who is going to school full time and is not interested in working
B. Billy, who is working part time while looking for a full-time job
C. Chuck, who is 14 and is looking for job delivering papers
D. Diane, who has begun to look for work because her daughter has started school
3. Demand-pull inflation occurs when:
A. input costs rise.
B. unemployment is above the natural rate
C. people incorrectly forecast inflation.
D. aggregate demand increases.
Explanation / Answer
1. Labor force participation rate = Labor force / Total population X 100
= [(25,000 + 1,00,000) / 2,50,000] X 100 = (1,25,000/2,50,000) X 100 = 0.5 X 100 = 50%
Answer is (c) 50%
2. D. Diane, who has begun to look for work because her daughter has started school
3. D. aggregate demand increases.
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