Need help on following question: Measuring unemployment 1) Determine the impact

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Need help on following question: Measuring unemployment 1) Determine the impact on each of the following if 2million formerly unemployed workers decide       to return to school fulltime and stop looking for work:       a) the labor forceparticipation rate       b) the size of the laborforce       c) the unemployment rate 2) Suppose that the U.S. noninstitutional adult population is230 million and the labor force participation     rate is 67 per cent.     a) What would be the size of the U.S. laborforce?     b) If 85 million adults are not working,what is the unemployment rate? Thank you. Need help on following question: Measuring unemployment 1) Determine the impact on each of the following if 2million formerly unemployed workers decide       to return to school fulltime and stop looking for work:       a) the labor forceparticipation rate       b) the size of the laborforce       c) the unemployment rate 2) Suppose that the U.S. noninstitutional adult population is230 million and the labor force participation     rate is 67 per cent.     a) What would be the size of the U.S. laborforce?     b) If 85 million adults are not working,what is the unemployment rate? Thank you.

Explanation / Answer

Are employed Are unemployed but looking for a job The labor force is the total number ofpeople employed or seeking employment in a country or region, alsocalled work force.
The unemployment rate is the number of peoplelooking for work divided by the total number of people in the laborforce. Answers to question #1: A) The rate would decrease. B) The labor force would decrease. C) There would be no impact, because the outcome wouldremove 2 million people from the numerator and the denominator.Therefore, no change to the unemployment rate. Answers to question #2: A) Take 67% of 230 million = 154,100,000 B) Take 85,000,000 (number of people looking forwork) divided by 154,100,000 (number of people in the laborforce) = 55.16% I hope this helps, please rate... Answers to question #1: A) The rate would decrease. B) The labor force would decrease. C) There would be no impact, because the outcome wouldremove 2 million people from the numerator and the denominator.Therefore, no change to the unemployment rate. Answers to question #2: A) Take 67% of 230 million = 154,100,000 B) Take 85,000,000 (number of people looking forwork) divided by 154,100,000 (number of people in the laborforce) = 55.16% I hope this helps, please rate...

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