1. Based on the population classifications we discussed relating to the labor force and unemployment; determine whether each of the following statements is true or false. Explain each answer briefly. Assume that everyone answers surveys honestly and is correctly classified.
a. Some people who are officially classified as unemployed are not in the labor force.
b. Any civilian adult who is not employed is considered as "unemployed."
c. If some of the unemployed become employed, then the labor force will increase.
d. "Full employment" is when everyone who is looking for a job has found one.
2. Given: Adult Population = 150 million; Full-time employed = 93 million; Part-time employed (more than 1 hr/week) = 8 million; Unemployed = 6 million
a. Show your computations for the unemployment rate.
b. How many were not in the labor force (NILF)?
c. If 0.8 million of the unemployed become discouraged workers, compute the new unemployment rate. Show your computations.