6. Lina and Sandra graduated, each with a degree in mechanical engineer, Lina decided to start traveling the world with no intent to work as an engineer, while Sandra is still being interviewed at different companies. " Lina is not in labor force while Sandra is unemployed Lina is unemployed while Sandra is almost employed Sandra is not in labor force while Lina is unemployed O Lina and Sandra are both unemployed

6. Lina and Sandra graduated, each with a degree in mechanical engineer, Lina decided to start traveling the world with no intent to work as an engineer, while Sandra is still being interviewed at different companies. " Lina is not in labor force while Sandra is unemployed Lina is unemployed while Sandra is almost employed Sandra is not in labor force while Lina is unemployed O Lina and Sandra are both unemployed

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. During the first three months of 2009, the number of American workers counted by the Bureau of Labor Statistics (BLS) as being employed decreased by 2,451,000 (that is, by almost 2 1/2 million) yet, over the same period, the number of American workers counted by the BLS as being unemployed increased by only 2,053,000 (that is, by just a little more than 2 million). a. Explain briefly (no more than a sentence or two) how these two numbers can be consistent with one another. b. In light of the two statistics given above, would you say that the rise in the unemployment rate from 7.2 percent to 8.5 percent during the first three months of 2009 overstates or understates the severity of the recession as felt by US workers?
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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4. In our country the participation rate is 60% and the unemployment rate is 10%. If the number of peopl able to work is 20 million then the number of unemployed will be: A. 12 million. C. 10.8 million E. 1.2 million B. 8 million D. 2 million
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.
Question 35 Which of the following statements about historical unemployment rate is true? Since 1960, the average unemployment rate in the United States has been about 6%. Since 1960, the average unemployment rate in the United States has been about 10%. Since 1960, the average unemployment rate in the United States has been about 2%. O d) The unemployment rate in the United States is always above 5%. O e) The unemployment rate in the United States has never fallen below 6%.
6. "You mi ght as well say that the unemployment rate would be zero if everyone just quit looking for work." Explain what the author means by this.
4. Which of the following characterises that Mr. Salim lost his job due to heavy monsoon rains in Oman? a.Seasonal unemployment b.Technological unemployment c.Frictional unemployment d.Structural unemployment
Suppose the unemployment rate increases. If at the same time we observe the labor force participation rate decreasing, we can conclude that The labor force participation rate is falling for a bad reason O The unemployment rate is increasing for a bad reason O The unemployment rate is increasing for a good reason O The labor force participation rate is falling for a good reason
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