H100002

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Department
Economics for Management Studies
Course
MGEA06H3
Professor
Iris Au
Semester
Winter

Description
ECMA06 Midterm Winter 2011 Question 1 - 3 Question 1 – Question 2: For the economy in question, the size of the adult population is held fixed at 94500. The pool of people who are not in the labor force is 30240. In addition, 44982 people have full-time jobs and 14394 people have part-time jobs. The remaining 4884 people are unemployed workers. Question 1 Based on the information given, in the initial period, this economy would have (rounded to 1 decimal place): A) An unemployment rate of 7.6% and an employment rate of 92.4%. B) An unemployment rate of 7.6% and an employment rate of 68.0%. C) An unemployment rate of 7.6% and an employment rate of 62.8%. D) An unemployment rate of 8.2% and an employment rate of 91.8%. E) An unemployment rate of 8.2% and an employment rate of 68.0%. F) An unemployment rate of 8.2% and an employment rate of 62.8%. G) An unemployment rate of 10.9% and an employment rate of 89.1%. H) An unemployment rate of 10.9% and an employment rate of 68.0%. I) An unemployment rate of 10.9% and an employment rate of 62.8%. J) None of the above. Question 2 In a later period, government policy helps industries generate 1112 new full-time jobs. Of these 1112 new jobs created, 500 are filled by people who were not in the labour force, while 454 are filled by people who were formerly unemployed and the rem
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