Chapter 1. Chapter 30 (Chapter 11 Macro)

Step 1

Work It Out
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You must read each slide, and complete any questions on the slide, in sequence.

Question

Suppose the island nation of Freelandia is composed entirely of the following mutually exclusive groups:
190 people who are employed.
10 people who are unemployed.
20 people who are students.
30 people who are retired.
60 people who are children.

What is the size labor force of Freelandia? iDINJ8pHPxI=

Correct! The labor force is equal to the number of people employed plus unemployed.
Sorry! Please try again! Recall the definition of the work force.

Question

Suppose the island nation of Freelandia is composed entirely of the following mutually exclusive groups: 190 people who are employed. 10 people who are unemployed. 20 people who are students. 30 people who are retired. 60 people who are children.

What is the population of Freelandia? 6ckkvf3TWcI=

Correct! The population of Freelandia is the sum of all the individuals within the country.
Sorry! Please try again! Recall the definition of population.
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Step 2

Question

Suppose the island nation of Freelandia is composed entirely of the following mutually exclusive groups:
190 people who are employed.
10 people who are unemployed.
20 people who are students.
30 people who are retired.
60 people who are children.

What is the unemployment rate in Freelandia? (fill in your answer as a decimal, for example if the answer is 15% fill in 0.15) QcES1UyyvKM3HVz0

0:42
Correct! The unemployment rate in Freelandia is 5% or 0.05. The unemployment rate is calculated as the number of unemployed people divided by the labor force or in this case 10 divided by 200.
Sorry! Please try again! Recall the definition of the unemployment rate.

Step 3

Question

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