Question: In May 2019, the population of a small economy was 270 million and the outside labour force population was 126 million. There were 144

In May 2019, the population of a small economy was 270 million and the outside labour force population was

In May 2019, the population of a small economy was 270 million and the outside labour force population was 126 million. There were 144 million people in the labor force and 120 million of them were considered employment. In July 2019, 2 million people were laid off due to the weak economy. Out of these people, 0.5 million decided to retire. Based on the given information: a) Calculate the unemployment rate in May 2019. b) Calculate the participation rate in May 2019 c) Calculate the number of people in the labor force in July 2019. d) Calculate the number of unemployed in July 2019. e) Calculate the unemployment rate in July 2019. f) Is it possible to eliminate unemployment. g) Explain THREE (3) causes of the unemployment rate with examples. (2 Marks) (2 Marks) (2 Marks) (2 Marks) (2 Marks) (1 Marks) (9 Marks)

Step by Step Solution

★★★★★

3.39 Rating (152 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets Cash $ 82,700 $ 52,000 Accounts receivable,...

Create a balance sheet for the following information: Oct. 1 Aster Turane invested $46,000 cash, a $18,000 computer system, and $12,000 of office equipment in the business. 2 Paid six months of rent...

Prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended December 31, 2012. Interpret your results. Abrahams Manufacturing Company Income Statement for the Year Ended...

Consider an economy that initially has a labour force of 2000 workers. Of these workers, 1900 are employed and each works 40 hours per week. Ten units of output are produced by each hour of labour....

Snow began to fall during the morning of February 2 and continued steadily into the afternoon. At noon a snowplow began removing snow from a road at a constant rate. The plow traveled 6 km from noon...

Boutique Ads Co. produces advertising videos. During the last six months of the current fiscal year, Boutique Ads Co. received the following notes: Instructions1. Determine for each note (a) The due...

Answer the following questions: a. Assuming a rate of 10% annually, find the FV of $1,000 after 5 years. b. What is the investments FV at rates of 0%, 5%, and 20% after 0, 1, 2, 3, 4, and 5 years? c....

A R-12 heat pump cycle shown in Fig. P6.71 has a R-12 flow rate of 0.05 kg/s with 4 kW into the compressor. The following data are given State 1 2 3 4 5 6 P kPa 1250 1230 1200 320 300 290 T C 120 110...

Your broker offers to sell you some shares of Bahnsen & Co. common stock that paid a dividend of $2 yesterday. You expect the dividend to grow at the rate of 5 percent per year for the next 3 years,...

The base 10 logarithm of 55 cycles-to-failure observations on specimens subjected to a constant stress level in fatigue have been classified as follows: Here y is the class midpoint and f is the...

A vertical spring supports a beaker containing some water in it. Water slowly evaporates and the compression in the spring decreases. Where does the elastic potential energy stored in the spring go?

Determining materials price and usage variances Gwen's Florals produced a special Mother's Day arrangement that included six roses. The standard and actual costs of the roses used in each arrangement...

Mark has a major medical policy that requires him to pay 2 0 percent of the first $ 1 0 , 0 0 0 of medical expenses. This is known as:

Identify someone you know who works in a business organization. Talk with that person to learn about the individuals in the organization who are involved in the setting of prices. a. Describe the job...

As the marketer of your own professional services, you are responsible for price setting. Thus, it is necessary that you think about your pricing policy. a. Describe how a business professional might...

An entrepreneur is starting a business selling decorative items, such as vases, wall hangings, and prints (framed or unframed) over the Internet. She is aware that she needs to make a number of...

Suppose that in Figure 2-4, the nation currently has sufficient resources to produce combinations located along only the innermost production possibilities curve. In addition, suppose that the...

Why might the study of pricing be relevant to a student who does not plan to ever set prices within a business organization?

I need help creating the WBS elements and the activity names for this project. LLIDNWVI T NWLGWLL IINO L INJULLIVIND (1 ErneuLivey Final Report Due Date: April 19, 2024 @ 09:00 PM (EST) (No...

Question 2 in May 2019, the population of a small economy was 270 million and the outside labour force population was 126 million. There were 144 million people in the labor force and 120 million of...

Assignment for \"The Solow Model Unleashed: Understanding Economic Growth\" Based on Columbia CaseWorks 130304 1 Assignment Introduction & Algebra This case and assignment is intended to enhance your...

this is county claim and if say alread filled u can't choose it. You will find a county with a population that grew from 2018 to 2019. You can find county populations on the US Census Website. If for...

4. How would you advise Haifa on the additional funds needed from the bank by using the forecasted income statement and balance sheet? In May 2019, Beefathimathul Haifa completed her postgraduate...

Fill in the blanks in the excel worksheet. In particular, calculate Unemployment rate, Labour Force Participation rate, and percentage changes in Population, Labour force, Employment, Unemployment,...