SHOW YOUR CALCULATIONS. 1 ) Assume the U.S. population is 275 million. If 210 mi
ID: 2441318 • Letter: S
Question
SHOW YOUR CALCULATIONS.
1) Assume the U.S. population is 275 million. If 210 million people are of working age, 135 million are employed, and 6 million are unemployed, what is the size of the labor force?
A) 275 million
B) 141 million
C) 135 million
D) 210 million
E) 204 million
2) Suppose the population is 220 million people, the labor force is 150 million people, the number of people employed is 130 million, and the working-age population is 175 million people. What is the unemployment rate?
A) 9.0 percent
B) 13.3 percent
C) 11.4 percent
D) 15.4 percent
E) 20 percent
3) If 150 million people are employed, 50 million people are unemployed, and the population is 285 million people; the unemployment rate is
A) 70.1 percent.
B) 81 percent.
C) 17.5 percent.
D) 25 percent.
E) not possible to calculate without data on the labor force.
4) Suppose the working-age population is 220 million, the labor force is 150 million, and the unemployment rate is 10 percent. The number of unemployed people is
A) 15 million.
B) 22 million.
C) 37 million.
D) 7 million.
E) 70 million.
5) The population of Oceana is 20 million. There are 5 million people under the age of 16. Of those 16 and over, 1 million are in jail, 1 million are in the armed forces, and 1 million are full-time students. One million people have given up looking for work because the economy is in a recession. Two million people are actively looking and 8 million are employed. What is the working-age population?
A) 20 million
B) 15 million
C) 14 million
D) 10 million
E) 13 million
6) The population of Oceana is 20 million. There are 5 million people under the age of 16. Of those 16 and over, 1 million are in jail, 1 million are in the armed forces, and 1 million are full-time students. One million people have given up looking for work because the economy is in a recession. Two million people are actively looking and 8 million are employed. What is the labor force?
A) 20 million
B) 15 million
C) 14 million
D) 10 million
E) 13 million
7) The population of Oceana is 20 million. There are 5 million people under the age of 16. Of those 16 and over, 1 million are in jail, 1 million are in the armed forces, and 1 million are full-time students. One million people have given up looking for work because the economy is in a recession. Two million people are actively looking and 8 million are employed. What is the unemployment rate?
A) 20 percent
B) 10 percent
C) 25 percent
D) 50 percent
E) 15 percent
8) If the number of employed people is 150 million, the number of unemployed people is 50 million, and the working-age population equals 285 million people, the labor force participation rate is
A) 70.2 percent.
B) 81 percent.
C) 17.5 percent.
D) 25 percent.
E) 52.6 percent.
9) If the working-age population is 20 million and labor force is 13 million, the labor force participation rate is
A) 65 percent.
B) 35 percent.
C) 153 percent.
D) 60 percent.
E) impossible to calculate because data on the number of employed workers is needed.
10) In January of 2001, the population of the United States was 276.8 million, the working-age population was 210.2 million, the total number of people employed was 140, and the total number of people unemployed was 5.0 million. What was the labor force participation rate?
A) 78 percent
B) 56 percent
C) 69 percent
D) 90 percent
E) 67 percent
Explanation / Answer
1.Labour force is the number of employed and unemployed population of the country.
Labour force-135+6=141 million
Answer-B
2.Unemployed population=Labour force-employed population
Unemployed population=150-130=20 million
Unemployment rate=Number of unemployed people/Labour force
Unemployment rate=20/150=13.3%
Answer-B
3.Labour force=150+50=200
Unemployed population=50
Unemployment rate=50/200=25%
Answer-D
4.Unemployment rate=10%
Labour force=150 millions
10%=unemployed population/labour force
10%=unemployed population/150
Unemployed population=15 millions
Answer-A
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