2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 12,560 12,682 12,909 13,271 13,774 14,234 14,614 14,874 14,830 14,419 14,784 15,021 15.369 15,710 142,583,000 143,734,000 144,863,000 146,510,000 149,401,000 149,320,000 151,428,000 153,124,000 154,287,000 154,142,000 153,889,000 153,617,000 154.975.000 155,389,000 Employment 136,891,000 136,933,000 136,485,000 137,736,000 141,252,000 141,729,000 144,427,000 146,046,000 145,363,000 139,877,000 139,064,000 139,869,000 142,469,000 143,929,000 Civilian Unemployment 5,692,000 6,801,000 8,378,000 8,774,000 8,149,000 7,591,000 7,001,000 7,078,000 8,924,000 14,265,000 14,825,000 13,747,000 12,506,000 11,460,000 Instructions: Enter your responses rounded to the nearest one decimal place. Make sure to pay attention to th Between 2000 and 2004, by how much did (a) The labor force increase? (b) Total employment increase? (c) Total unemployment increase? (d) Total output (real GDP) increase? $ million million million trillion

Solution

Ans:

a) Labor force increase = 149,401,000 - 142,583,000

= 6,818,000 or 6.818 million

b) Total employment increase = 141,252,000 - 136,891,000

= 4,361,000 or 4.361 million

c) Total unemployment increase = 8,149,000 - 5,692,000

= 2,457,000 or 2.457 million

d) Total output(real GDP) increase = $13.774 trillion - $12.560 trillion

= $1.214 trillion