Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 15 - Unemployment - Quick Check Multiple Choice - Page 317: 2

Answer

b. 60

Work Step by Step

In Ectenia, 1. 40 people who are working full time and 20 people who are working half-time are considered employed and a part of the labor force 2. 10 people who are looking for a job are a part of the labor force and are considered unemployed 3. 10 people who would like to work but are so discouraged that they have given up looking for a job are considered as discouraged workers and are not considered a part of the labor force 4. 10 full-time students and 10 retired persons are not a part of the labor force Therefore, the labor force consists of 60 people
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