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Natali5045456 [20]
3 years ago
10

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an un

employment rate of 5 percent. how many people were unemployed?
Mathematics
1 answer:
german3 years ago
8 0
60% of 50 mill......0.6(50 mill) = 30 mill...this is the labor force participation
unemployment rate of 5%....0.05(30 mill) = 1.5 mill

 1.5 million were unemployed <==

** if the unemployment rate is 5%, that means 5% of the labor force, not the entire adult population because some of the adult population might be too old or disabled and cant participate in the labor force. The labor force is people that are able to work.
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F=ir^t

139=134r^10

139/134=r^10

r=(139/134)^(1/10) then:

f=134(139/134)^(t/10)  so in 2014, t=24 so

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Some will say that you have to use the exponential function, but it really gives you the same answer...even for continuous compounding :)...

A=Pe^(kt)

139=134e^(10k)

139/134=e^(10k)

ln(139/134)=10k

k=ln(139/134)/10 so

A=134e^(t*ln(139/134)/10)  when t=24

A=134e^(2.4*ln(139/134))

A≈146 million (to nearest million)

The only real reason or advantage to using A=Pe^(kt) is when you start getting into differential equations...
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Step-by-step explanation:

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