Question

orce partici Consider a small economy composed of six people: Charles, Dina, Gilberto, Juanita, Neha, and Lorenzo. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BL.S), identify each person's status as employed, unemployed, "not in the labor force"f not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Charles is a 74-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Employed Dina is a 42-year-old autoworker who was just laid off by her employer She is trying to find any kind of job to help make ends Not in the adult population meet Not in the labor force Gilberto is a 79-year-old retired professor. He enjoys volunteering at the local public library Unemployed Neha is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks Lorenzo is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home. Juanita is a 13-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $20 per week. O Type here to search Homework (ch 28) Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate- According to this formula, what is the labor force participation rate of this economy of six people? 20% 60% 66.67% @ 200% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Unemployment Rate According to this formula, what is the unemployment rate of this economy of six people? О 20% 60% 66.67% 200% O Type here to search

Answer 1

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