Econ 10 Study Guide Test.
Econ 10 Study Guide Test. The population of Ectenia is 100 people: 40 work full-time, 20 work half-time but would prefer to work full-time, 10 are looking for a job, 10 would like to work but are so discouraged they have given up looking, 10 are not interested in working because they are full-time students, and 10 are retired. What is the number of unemployed? 10 20 30 40 - CORRECT ANSWER 10 The category of unemployment includes those who are not employed, are available for work, and tried to find employment during the previous four weeks. It also includes those waiting to be recalled to a job from which they were laid off. In Ectenia, the 10 who are looking for a job are the only unemployed people; discouraged workers, students, and the retired are considered "not in the labor force" and are not counted as unemployed. See Section: How Is Unemployment Measured? The population of Ectenia is 100 people: 40 work full-time, 20 work half-time but would prefer to work full-time, 10 are looking for a job, 10 would like to work but are so discouraged they have given up looking, 10 are not interested in working because they are full-time students, and 10 are retired. What is the size of Ectenia's labor force? 50 60 70 80 - CORRECT ANSWER 70 The BLS defines the labor force as the sum of the employed and the unemployed.
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