Homework Ch 15

Homework Ch 15 - c A stagecoach industry worker laid off...

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1 Homework Ch 15: Unemployment Q1. The BLS announced that in April 2010, of all adult Americans, 139,455,000 were employed (I), and 15,260,000 were unemployed (II), and 82,614,000 were not in the labor force (III). Use this information to calculate: a. Adult population: I + II + III b. Labor force: I + II c. Labor force participation rate: (I + II)/( I + II + III) × 100 d. Unemployment rate: II/( I + II) × 100 Q5. Are the following workers more likely to experience short term or long term unemployment? Explain. a. A construction worker laid off because of bad weather b. A manufacturing worker who loses her job at a plant in an isolated area
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Unformatted text preview: c. A stagecoach industry worker laid off because of competition from railroads d. A short order cook who loses his job when a new restaurant opens across the street e. An expert welder with little formal education who loses her job when the company installs automatic welding machinery 2 Q6. Using a diagram of the labor market, show the effect of an increase in the minimum wage on the wage paid to workers, the number of workers supplied, the number of workers demanded, and the amount of unemployment. 3...
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This note was uploaded on 11/16/2011 for the course ECON 202 taught by Professor Kim during the Fall '11 term at CSU Fullerton.

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Homework Ch 15 - c A stagecoach industry worker laid off...

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