Principles of economics (macro)

Exercises # 3

Question 1: In June 2009, at the trough of the Great Recession, the Bureau of Labor Statistics
announced that of all adult Americans, 140,196,000 were employed, 14,729,000 were
unemployed, and 80,729,000 were not in the labor force. Use this information to calculate:
a) the adult population.
b) the labor force.
c) the labor-force participation rate.
d) the unemployment rate.
Question 2: In country A, the working age population is 60 million people, people with jobs
are 37, 5 millions and unemployed people are 4.5 millions.
Calculate:
a) the workforce
b) the labour force participation rate
c) the unemployment rate.
Question 3: Explain whether each of the following events increases, decreases, or has no effect
on the unemployment rate and the labor-force participation rate.
a) After a long search, Jon finds a job.
b) Tyrion, a full-time college student, graduates and is immediately employed.
c) After an unsuccessful job search, Arya gives up looking and retires.
d) Daenerys quits her job to become a stay-at-home mom.
e) Sansa has a birthday, becomes an adult, but has no interest in working.
f) Jaime has a birthday, becomes an adult, and starts looking for a job.
g) Cersei dies while enjoying retirement.
h) Jorah dies working long hours at the office.