Economics

1. According to the data table below, what is the unemployment rate?:

Total Population: 1,500
Population under 16 or institutionalised: 360
Not in the labor force: 450
Unemployed: 69
Workers with part-time work who want full-time: 30

A. 10%
B. 11%
C. 8.4%
D. 6.9%
E. 14%

2. According to the data table below, what is the size of the labor force?:

Total Population: 1,500
Population under 16 or institutionalised: 360
Not in the labor force: 450
Unemployed: 69
Workers with part-time work who want full-time: 30

A. 1500
B. 940
C. 1401
D. 690
E. 550

3. According to the data below, what is the size of the labor force?

Adult population: 200 million
Employed: 125 million
Unemployed: 8 million
Not in the labor force: 67 million

A. 200 million
B. 133 million
C. 192 million
D. 125 million

4. According to the data below, what is the unemployment rate?

Adult population: 200 million
Employed: 125 million
Unemployed: 8 million
Not in the labor force: 67 million

A. 7%
B. 5.4%
C. 10.1%
D. 6.2%
E. 6%

5. According to the data below, what is the labor-force participation rate?

Adult population: 200 million
Employed: 125 million
Unemployed: 8 million
Not in the labor force: 67 million

A. 66.5%
B. 72.5%
C. 68.1%
D. 61%
E. 63%

6. A record player repairman who has not learned how to repair a CD and DVD technology

A. Frictional Unemployment
B. Cyclical Unemployment
C. Structural Unemployment
D. Seasonal Unemployment

7. A computer programmer who quits his job to look for a better one with benefits

A. Frictional Unemployment
B. Cyclical Unemployment
C. Structural Unemployment
D. Seasonal Unemployment

8. A high school dropout with few skills who has been looking for a job for months

A. Frictional Unemployment
B. Cyclical Unemployment
C. Structural Unemployment
D. Seasonal Unemployment

9. A person whose job has been automated out of existence

A. Frictional Unemployment
B. Cyclical Unemployment
C. Structural Unemployment
D. Seasonal Unemployment

10. A top salesman for a computer company who quit his job because he did not like the boss

A. Frictional Unemployment
B. Cyclical Unemployment
C. Structural Unemployment
D. Seasonal Unemployment

Answers:
1. I have no idea and have tried plugging in every number to get a percentage that matches the ones given
2. D
3. B
4. E
5. A
6. C
7. A
8. A
9. C
10. A

If you can tell me which ones are right that'd be great. And for the ones that are wrong can you either tell me the right answer or give me a tip to get to the right answer, please.

  1. 👍
  2. 👎
  3. 👁
  1. Study, study, study:
    http://www.khanacademy.org/economics-finance-domain/

    Search and re-search:
    http://hanlib.sou.edu/searchtools/
    and (not "or"!)
    http://www.hackcollege.com/blog/2011/11/23/infographic-get-more-out-of-google.html

    1. 👍
    2. 👎
    👤
    Writeacher
  2. hey writeacher, you will really get from me one day. You are acting over smart. I will smack you.

    1. 👍
    2. 👎
  3. WRONG WRONG WRONG

    1. 👍
    2. 👎

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