5. Problems and Applications Q5 Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Scenario An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs. After a long search, some laid-off workers find new jobs. Numerous students graduate from college but cannot find work. A stock market boom induces newly enriched 60-year-old workers to take early retirement. Unemployment Rate Effect On... Employment-Population Ratio

5. Problems and Applications Q5 Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Scenario An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs. After a long search, some laid-off workers find new jobs. Numerous students graduate from college but cannot find work. A stock market boom induces newly enriched 60-year-old workers to take early retirement. Unemployment Rate Effect On... Employment-Population Ratio

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. What type of unemployment (cyclical, frictional, or structural) applies to each of the following: (Explain why you are choosing that type of unemployment) a. landscapers laid off in response to drop in new housing construction during a recession. b. coal miners laid off due to EPA regulations that shut down coal fired power c. a financial analyst who quits his/her job in Chicago and is pursing similar work in Arizona for printed catalogues and flyers as firms go to the internet to promote and advertise their products. d. printers laid off due to drop in demand
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“The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemiclevels of 7.2 per cent in January 2020. However, the reason behind the dip in unemployment is not theaddition of jobs — rather, it was caused by the decline in the number of people looking for jobs. The numberof unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently,they were no longer counted as unemployed.”Source: https://www.indiatoday.in/diu/story/unemployment-rate-down-jobs-creation-job-seekers-1915703-2022-02-21Accessed: 21/02/22 1. The unemployment figure presented here is the… a) Seasonal unemployment.b) Narrow definition.c) Expanded definition.d) Real unemployment. 2. Demand-pull inflation can occur when…a) There is a shortage of investment and investors bid up interest rates.b) Inventories shrink and consumers bid up prices.c) There is a surplus of resources and so wages are bid up by employers.d) Undesired investment occurs. 3.…
1. What is the Civilian Rate in October of 2009?2. What is the Natural Rate of Unemployment in October of 2009? 3. What Cyclical Unemployment Rate in October of 2009?
4 Calculate unemployment rate and labor force participation rate for both 2020 and 2021 given the following information: In 2020, there were 18,000 people employed, 1,200 people unemployed, and 1,600 people not in the labor force. In 2021, the following events occurred: 900 people who were looking were hired, 900 people were fired from their jobs and only one third started looking for a new job, 300 people quit their jobs and did not look for new, 100 people who were not working decided to start looking, 700 people retired, and 300 people who were looking decided to stop looking due to lack of success.
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Why does the employment-population ratio have an upward trend from 1960 to 2000? The employment-population ratio has an upward trend because _______. A. the employment-population ratio for men increased B. the employment-population ratio for women increased C. the size of the working-age population was increasing D. the size of the labor force was increasing Thanks!!!
12. Whats a possible explanation for the variations in unemployment over time and the variation in unemployment by age, gender, educational attainment, and race?
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Economics Sarah is looking for work as a computer programmer. Although her prospects are good, she hasn't yet taken a job. Julie is looking for work in a steel mil, but there aren't many job ads for steelworkers and every time she shows up for an interview, there are many more people than openings. Which of the following best describes the nature of their unemployment? A. Sarah and Julie are both frictionally unemployed. B. Sarah and Julie are both structurally unemployed. C. Sarah is frictionally unemployed, and Julie is structurally unemployed. D. Sarah is structurally unemployed, and Julie is frictionally unemployed.
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1. In which year was the Civilian Unemployment Rate the highest in this time series? 2. In which year was the Civilian Unemployment Rate the lowest in this time series?