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Fall 2022-Econ 102

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Not being considered for unemployment   is not looking for a job  
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Being considered a full time student can be considered as   out of the labor force  
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Matt graduated from college six months ago and is currently without work. He accepted a job that will start in three months. Today, Matt is   not in the labor force  
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The number of people employed equals   the labor force minus the number of people unemployed.  
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Annabel retired from the fire department. She started volunteering two hours a day at an unpaid job in the local hospital. Annabel is   not in the labor force.  
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Wayne did not look for another job after he lost his current job. As a result the   unemployment rate eventually decreased.  
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The number of people classified as employed is 390,000 and the number of people classified as unemployed is 70,000. The size of the labor force   equals 460,000  
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The number of people classified as employed is 500,000 and the number of people in the labor force is 550,000. The total number of people classified as unemployed is   50,000  
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If the number of people classified as unemployed is 10,000 and the number of people classified as employed is 300,000, what is the unemployment rate?   3.2%  
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If the number of people classified as unemployed is 5,000 and the number of people classified as employed is 45,000, what is the unemployment rate?   10%  
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If the number of people employed is 240,000 and the labor force is 250,000, the unemployment rate is   4.0%.  
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If the unemployment rate is 7% and the number of people employed is 300,000, total number of people unemployed is approximately   22,580 people.  
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If the unemployment rate is 6.1% and the number of people employed is 400,000, the labor force is approximately   426,000 people.  
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If the labor force is 575,000 and the total population 16 years of age or older is 650,000, the labor-force participation rate is   88.5%.  
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If the labor-force participation rate is 90% and the total population 16 years of age or older is 3 million people, the labor force is   2,700,000 people.  
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Created by: rrojas2003
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