Use the info in the chart below to identify the following Total Adult Population Full-time Workers...

  

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Use the info in the chart below to identify the following Total Adult Population Full-time Workers Part-time Workers 1600 600 120 80 20 Unemployed Discouraged Workers 1. Number of workers in the labor force. 2. Labor force participation rate. 3. What is the equation for calculating the unemployment rate? 4. Calculate the unemployment rate. 5. Assume that 50 of the 80 unemployed workers also become discouraged workers. Calculate the new unemployment rate. 6. Does the new unemployment rate after the increase in discouraged workers overstate or understate the actual level of joblessness in the economy? Explain. 7. Why are discouraged workers not included in the unemployment rate? 8. What happens to the unemployment rate when full-time workers involuntarily become part-time workers? Use the info in the chart below to identify the following Total Adult Population Full-time Workers Part-time Workers 1600 600 120 80 20 Unemployed Discouraged Workers 1. Number of workers in the labor force. 2. Labor force participation rate. 3. What is the equation for calculating the unemployment rate? 4. Calculate the unemployment rate. 5. Assume that 50 of the 80 unemployed workers also become discouraged workers. Calculate the new unemployment rate. 6. Does the new unemployment rate after the increase in discouraged workers overstate or understate the actual level of joblessness in the economy? Explain. 7. Why are discouraged workers not included in the unemployment rate? 8. What happens to the unemployment rate when full-time workers involuntarily become part-time workers?

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1 Number of workers in the labor force is fulltime workers parttime workers unemployed 600 120 80 80... View the full answer