The country of Macedonia has the following employment situation: Total adult population = 10 million Adult population out of work actively searching for work = 210 thousand Population retired, institutionalized, homemakers, and full-time students = 2.9 million Citizens listed with Macedonian military = 100 thousand Assuming the Macedonian ministry of Statistics uses the same unemployment formula as the U.S. Bureau of Labor Statistics, what is Macedonia's current unemployment rate? (3 points)

• Following are the statistics for Orange County: Total population = 5000 Aged 16 and above = 4000 Currently employed= 1000 Unemployed reported= 100 
• What is the Orange County's current labor force participation rate ? (3 points)
• What is current percentage out of the labor force? (3 points)

Total population 20,000 Working-age population 15,000 Employment 1,000 Unemployment 100

• Refer to the table above.
• What is the unemployment rate for this simple economy ? (3 points)
• Refer to the table above. What is the labor force participation rate for this simple economy equals to? (3 points)
• Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will increase , decrease, or remain constant? (3 points)
• Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as A) employed. B) unemployed. C) not in the labor force. D) not in the working-age population (3 points)

 

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To calculate the unemployment rate for Macedonia we need to use the formula employed by the US Burea... View the full answer