chpt9 - correct,Concept EmploymentStatus Figure Questi on Help In August 2013 the working-age population of the United States was 245.9 million The

chpt9 - correct,Concept EmploymentStatus Figure Questi on...

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correct, Concept:  Employment Status Figure Questi on Help In August 2013, the working-age population of the United States was 245.9 million. The working-age population is divided into those in the labor force (155.5 million) and those not in the labor force (90.4 million). The labor force is divided into the employed (144.2 million) and the unemployed (11.3 million). Those not in the labor force are divided into those not available for work (84.1 million) and those available for work (6.3 million). Finally, those available for work but not in the labor force are divided into discouraged workers (0.9 million) and those currently not working for other reasons (5.4 million). Use this data to help determine which one of the following statements is true: A. The unemployment rate is StartFraction 11.3 million Over 155.5 million EndFraction times 100 equals 7.3 %11.3 million155.5 million × 100=7.3%. B. The labor force participation rate is StartFraction 155.5 million Over 245.9 million EndFraction times 100 equals 63.2 %155.5 million245.9 million × 100=63.2%. C. The labor force is 245.9 million. *D. Both A and B above are true. How does the U.S. economy create and destroy millions of jobs each year? ( Mark all that apply.) A. The federal government determines that certain industries are obsolete and closes firms. *B. In the market system, new firms are constantly entering and exiting various industries. Your answer is correct. *C. Some businesses are expanding, while others are contracting. Your answer is correct. D. When unemployment is high, the federal government hires more workers to offset the effects of unemployment. The BLS uses the establishment survey
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LOADING... to collect information on employment in the economy. Indicate one drawback of the establishment survey compared to the current population survey and indicate one advantage. A. It includes complete information about unemployment. *B. It is based on company payroll and not on unverifiable answers. Your answer is correct. *C. It does not include information about self-employed people. Your answer is correct. D. It is based on unverifiable, self-reported survey responses Why is the unemployment rate, as measured by the Bureau of Labor Statistics, an imperfect measure of the extent of joblessness in the economy? A. It fails to account for illegal activities. B. Underemployed people are considered employed. C. Discouraged workers are not considered unemployed. D. It does not account for inaccurate responses to the Current Population Survey.
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