Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if 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 Raphael is a 75-year-old professor. He teaches only one or two courses a year, but still publishes research at a productive rate. Susan is a 26-year-old recent college graduate She did not work for pay last week, but she had two job interviews. Alex is a 39-year-old graphic designer who is taking 2 years off from work to care for his young child. Eileen is a 31-year-old science teacher who taught at River Rock Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor. Clancy is a 20-year-old American Studies major at the University of Alabama. It's summer now, and he is working as a lifeguard in Memphis, Tennessee. Becky is a 11-year-old student at River Rock Middle School. She babysits her younger cousin and does other chores, so her parents give her an allowance of $20 per week. 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? ○ 40% O 50% 80% O 100% Status 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? ○ 40% O 50% ○ 80% 100%
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if 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 Raphael is a 75-year-old professor. He teaches only one or two courses a year, but still publishes research at a productive rate. Susan is a 26-year-old recent college graduate She did not work for pay last week, but she had two job interviews. Alex is a 39-year-old graphic designer who is taking 2 years off from work to care for his young child. Eileen is a 31-year-old science teacher who taught at River Rock Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor. Clancy is a 20-year-old American Studies major at the University of Alabama. It's summer now, and he is working as a lifeguard in Memphis, Tennessee. Becky is a 11-year-old student at River Rock Middle School. She babysits her younger cousin and does other chores, so her parents give her an allowance of $20 per week. 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? ○ 40% O 50% 80% O 100% Status 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? ○ 40% O 50% ○ 80% 100%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as
employed, unemployed, "not in the labor force" (if 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
Raphael is a 75-year-old professor. He teaches only one or
two courses a year, but still publishes research at a
productive rate.
Susan is a 26-year-old recent
college graduate
. She did not work for pay last week, but she
had two job interviews.
Alex is a 39-year-old graphic designer who is taking 2 years
off from work to care for his young child.
Eileen is a 31-year-old science teacher who taught at River
Rock Middle School last year. Due to budget cuts, she was
laid off at the end of the school year. It's the summer now,
and after a few weeks of vacation with her family, she is
looking for a part-time job as a tutor.
Clancy is a 20-year-old American Studies major at the
University of Alabama. It's summer now, and he is working
as a lifeguard in Memphis, Tennessee.
Becky is a 11-year-old student at River Rock Middle School.
She babysits her younger cousin and does other chores, so
her parents give her an allowance of $20 per week.
Status
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?
○ 40%
O 50%
80%
○ 100%
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?
○ 40%
O 50%
80%
○ 100%
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