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Practice MT2 Spring 2011

Practice MT2 Spring 2011 - Practice Questions for Midterm 2...

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Practice Questions for Midterm 2, Spring 2011 Part 1: Short Answer Problems 1. The following tables contain historical data on the US unemployment rate and labor force participation rate, and the most recent information about the number of people employed, unemployed and the size of the adult civilian non-institutional population. April 2009: a. (4 points) Calculate the unemployment rate and the labor force participation rate in April 2009. b. (2 points) Does it seem like that some unemployed workers have gotten discouraged about their chances of finding a job? Explain. Page 1 5.8% 66.1% Oct 08 6.6% 66.0% Jan 09 7.5% 65.5% Millions of people Employed 141.0 Unemployed 13.7 Population (adult civilian) 235.2 unemployment rate labor force participation rate Jan 08 4.9% 66.1% Apr 08 5.0% 66.0% Jul 08
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