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UNO [17]
3 years ago
8

Suppose the working age population of a fictional economy, Jessica Town, falls into the following categories: 100 are retired ho

memakers; 50 have full-time employment; 15 have part-time employment; 28 do not have employment but are actively looking for employment; and 16 would like employment but do not have employment and are not actively looking for employment. The official unemployment rate as calculated by the U.S. Bureau of Labor would equal:_________
Business
1 answer:
Studentka2010 [4]3 years ago
4 0

Answer: 30.1%

Explanation:

The unemployment rate includes those who do not have employment but are actively looking for employment not those who do not have a job and are not looking.

The rate is also based on the Labor force which is the portion of the population that is <u>able</u> and <u>willing</u> to work. Retirees are not included in this measure. Those who are not looking are not willing.

Labor Force = 50 full-time + 15 part-time + 28 unemployed

= 93 people

Unemployment rate:

= 28 / 93 * 100

= 30.1%

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Answer: $828

Explanation:

Given the following :

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PV at $1 (40, 5%) = 0.1420

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