AK ECON 3610 Midterm Answers 2005

AK ECON 3610 Midterm Answers 2005 - ECON 3610A: MIDTERM...

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1 ECON 3610A: MIDTERM SOLUTIONS: (MARKS IN BRACKETS) ½ or Question 1 a. UR = U/LF or (LF-E)/LF ( ½) = (17,372,800 – 16,148,800)/ 17,732,800 = 0.0704 = 7.0% (½) (NOTE: AWARDED FULL MARK IF ANSWER CORRECT WITHOUT FORMULA STATED) b. ER = E/POP ( ½) = 16,148,800/(17,732,800/0.674) (since LFPR = LF/POP) = 16,148,800 / 25,775,668 = 0.627 = 62.7% ( ½) c. About 100,000 ( ) (NOTE: GIVE ½ if close (50,000 to 79,000 or 121,000 to 200,000); give 1 if really close (any # between 80,000 and 120,000)) d. - Age differences: In Canada, people 15 years and over are surveyed, in the US, people 16 years and over are surveyed ( ) - Job Search: In US, passive searchers (those only looking at job ads) are considered Not in the Labour Force, whereas in Canada, they are considered unemployed ( ) e Any two of following: - Size of sample relative to population size ( ) - Variation in population values ( ) - Truthfulness of survey responses ( ) Question 2a and b
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AK ECON 3610 Midterm Answers 2005 - ECON 3610A: MIDTERM...

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