2. a) Can the unemployment rate ever be zero?Why or why not?b) Identify different types/reasonings forunemployment. Are there any such instances whendisplaced workers can be beneficial to theeconomy?3. a) What is the difference between theunemployment rate (UR) and the labor forceparticipation rate (LFPR)?b) Discuss some of the issues causing adisconnect in today's labor market?4. How does education and increased competitioneffect today's labor market? (think in the context ofhuman capital) Do the short-run implications differfrom the long-run?

(2a) In the context of the labor force, the unemployment rate is defined as the percentage of…

Answered: 2. a) Can the unemployment rate ever be…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 8P

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Similar questions

Are U.S. unemployment rates distributed evenly across the population?
What is structural unemployment? Give examples of structural unemployment.
While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other wands, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?
If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
What is frictional unemployment? Give examples of frictional unemployment.
Why is there unemployment in a labor market with flexible wages?
Is it desirable to eliminate natural unemployment? Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
What criteria do the BLS use to count someone as employed? As unemployed?
Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.

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