7. Quiz
There are 160,000 adults in your city. 110,400 people are employed.
The unemployment rate is 8 percent.
1. How many are in the Labor Force?
2. How many are Unemployed?
3.What is the Labor Force Participation Rate?
4. If you are going to receive $1,000 when you graduate in three years
and your risk rate is 8 percent, what it the present value?
8. 3,000 people live in Pooleynesia. There are
250 people under 16. 450 people are not
in the labor force. 230 people are
unemployed.
1. What is the Labor Force Participation
Rate?
2. What is the Unemployment Rate?
9. Calculating Unemployment Rates
Employed
+ Unemployed
= Labor Force
# %
100%
The unemployment rate is 10% and there
are 4,500 people employed. What is the
number unemployed?
10%
90%
4,500
5,000
500
4,500 ÷ .90 = 5,000
10. Calculating Unemployment Rates
Employed
+ Unemployed
= Labor Force
# %
100%
The unemployment rate is 5% and there are
2,500 people unemployed. What is the
number employed?
5%
95%
47,500
50,000
2,500
2,500 ÷ .05 = 50,000
11. Calculating Unemployment Rates
Employed
+ Unemployed
= Labor Force
# %
100%
The unemployment rate is 3% and there are 19,400
people employed. There are 30,000 adults. What is
labor force participation rate?
3%
97%
19,400
20,000
600
19,400 ÷ .97 = 20,000
20,000 ÷ 30,000 = .67 or 67%
12.
13. 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
Y a
0
N
1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
Y a
0
20
40
60
S
a
a
a
(%)
Ho er o er char o
Adj s ear range
da a displa .
N : I
a
a a
. Ba
16 a a
T a a
a a a a
a C
S .
S : 1948-2015 a
a a , C P
S , U.S. B a
S a
G a W
Men
Women
15. Frédéric Bastiat
(1801-1850)
There is only one difference between a
bad economist and a good one: the bad
economist confines himself to the
visible effect; the good economist takes
into account both the effect than can
be seen and those effects than must be
foreseen.
What is Seen andWhat in Not Seen,
1850
