26. Given the following macroeconomic data of a hypothetical economy: - number of individuals who are employed 7,500 %3D - number of individuals who are frictionally unemployed = 720 - number of individuals who are structurally unemployed = 100 %3D - number of individuals who are cyclically unemployed = 150 - number of individuals who are considered to be "discouraged workers" = 75 Compute the overall rate of unemployment as would be reported by the government: 12.33% 11.75% 11.45% none of the answers given is correct

26. Given the following macroeconomic data of a hypothetical economy: - number of individuals who are employed 7,500 %3D - number of individuals who are frictionally unemployed = 720 - number of individuals who are structurally unemployed = 100 %3D - number of individuals who are cyclically unemployed = 150 - number of individuals who are considered to be "discouraged workers" = 75 Compute the overall rate of unemployment as would be reported by the government: 12.33% 11.75% 11.45% none of the answers given is correct

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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D2)
1. The table below reports the unemployment rate, labor force participation rate, and (working-age) population for the United States in January 2008, 2011, and 2016. Using the data, answer the following questions. a) What was the size of the labor force at the start of each year? b) How many people were officially unemployed at the start of each year? c) What about these numbers may cause some concern even though the unemployment rate to start 2016 was a notch below the unemployment rate in 2008 as the economy was entering the Great Recession? Unemployment Rate Labor Force Participation Rate Working-age Population 2008 5.0% 2011 9.1% 64.2% 2016 4.9% 66.2% 234m 62.7% 251m 238m
op Government statisticians have estimated that: . frictional unemployment is 3.5%; and structural unemployment is 3.0%. If they have estimated that cyclical unemployment is currently -1.9%, what is their estimate for the natural rate of unemployment? Round to one decimal place and do not enter the % sign. If your answer is 6.14%, enter 6.1. If your answer is 6.15%, enter 6.2. If appropriate, remember to enter the sign 6.5
12. Name the type of unemployment occurring in each of the causes below. (a) Frank recently lost his job as the computer manufacturing company he works for recently downsized after poor sales and poor performance of the economy during the last Type of unemployment: (frictional, cyclical, structural ) year. (b) Julie just recently graduated from college and is spending the summer traveling before she begins a job with a consulting firm in the fall. Type of unemployment: (frictional , cyclical, structural) (c) Tom recently lost his job as the steel manufacturing firm he worked for moved their plant overseas. The other steel plants in the nation have been also been following this trend. Type of unemployment: (frictional , cyclical, structural ) The full-employment or natural rate of unemployment assumes there is no ( among the three types of unemployment. unemployment
Fill blanks and then with formula what is unemployment rate you of this economy of six people?
Question 23 The term natural in the phrase natural unemployment rate implies that the unemployment rate is as low as it can be when it is at the natural rate. that unemployment is at an ideal rate when it is at the natural rate. the unemployment rate that prevails when real GDP equals potential GDP. that the unemployment rate is at the highest rate it can be when it is at the natural rate. that the unemployment rate is at the rate it would be at if there were no minimum wage laws.
Explain what the implications of moving towards a ‘gig economy’, where fewer people work full-time jobs, will have on the unemployment rate and on the output of the economy.
Month/Yr Sep/2020 Cyclical Rate of Unemployment (percent) 3.5 Suppose it is claimed that actual real GDP deviates from potential real GDP by 2% for every percentage point of cyclical unemployment. In other words, assume that actual real GDP falls below (or rises above) potential real GDP by 2% when the rate of unemployment rises above (or falls below) the natural rate of unemployment by 1%. Given the cyclical unemployment rate recorded above, this translates into actual real GDP deviating from potential real GDP by $ billion. (Enter your response rounded to one decimal place and use a minus sign if necessary. If actual GDP is below potential GDP, enter your answer as a negative value.)
Scenario 1. Assume that frictional unemployment is 25; structural unemployment is 50; cyclical unemployment is 150; discouraged workers = 75; employed workers = 750; underemployed workers = 200. Use this information to answer the following 5 questions.Refer to Scenario 1. Is the economy at full employment? Question 15 options: a) Yes, because the unemployment rate is below 10% b) No, because the unemployment rate exceeds the natural rate of unemployment c) No, because cyclical unemployment exists in the economy d) Answers B and C are both correct
19 If the economy is at full employment, which of the following is true? Group of answer choices There is no cyclical unemployment. There is zero unemployment. There is no structural unemployment. There is no frictional unemployment.
The following question has 5 parts (a.-e.), parts b. to e. will be revealed after submitting your answer by hitting "Verify" on the preceding sections. Suppose the labour force of an economy is equal to 1,000 and the unemployment on December 2010 is 0. Then, suppose that in January 2011 and every month that follows, 70 workers become unemployed for 1 month, 31 become unemployed for 2 months, 16 become unemployed for 3 months and 9 become unemployed for 13 months. a. When will the economy reach its steady state? Month: Click for List Year: Click for List