Unemployment and Inflation 1. Measuring employment, unemployment, and labor forc
ID: 1210846 • Letter: U
Question
Unemployment and Inflation
1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Paolo, Sharon, Van, Amy, Deborah, and Carlos. Each person's employment status is described in the following table Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as Employed, Unemployed, "Not in the labor force" if not in the civilian labor force but still part of the adult population, or "Not in the adult population" if not in the civilian adult population Persorn Paolo is a 44-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work Sharon is a 34-year-old professional basketball player. She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position Van is a 45-year-old accountant who has been out of work for almost a year. He became so discouraged that, a couple of months ago, he gave up on his job search Deborah is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor Carlos is a 20-year-old American studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama Amy is a 11-year-old student at East Valley Middle School. She baby-sits her younger brother and does other chores for which her parents give her an allowance of $25 per week. Status Employed Not in the adult population Not in the labor force Complete the right half of the following equation to reflect the labor force participation rate repo UnemployedExplanation / Answer
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