9. Suppose in an economy Emmaland, the Beveridge curve can be described as v = p β − u 2 , where u is the unemployment rate, v is the vacancy rate, β is a parameter. Note that 0 < u < 1, 0 < v < 1, and β > 0. In Year 0, the vacancy rate and unemployment rate in Emmaland were both 5%. In Year 1, the vaccancy rate increases to 6% and the number of employed workers is 962,583. What is the size of labor force in Year 1?
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9. Suppose in an economy Emmaland, the Beveridge curve can be described as v = p β − u 2 , where u is the
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- 2) In the same economy, the nominal wages are determined by the price level (), unemployment rate () and unemployment benefits () according to the function:. If the unemployment benefits amount to 0.5, write the wage relation (WS) and represent it graphically.← You are given the following data on the unemployment rate and output. Year 3 4 0.07 0.05 1013.5 1137.5 Unemployment rate Output Assume that the natural rate of unemployment is 0.06 and that 1 2 0.08 0.06 930.0 1040.0 Year 1 2 3 4 Y Y - Y Y Find the full-employment level of output in each year. (Round your answers to one decimal place.) = 2 (u-u).Assume you have the following information about the unemployment rate among differentgroups in the labor force: adult males 5%, adult females 4.5%, and teenagers 12%. Teenagers account for15% of the work force and, women account for 40% of the adult labor force. What is the actual nationwideunemployment rate?
- < Consider an economy that initially has a labor force of 1,000 workers. Of these workers, 950.0 are employed and each works 40 hours per week. Ten units of output are produced by each hour of labor. The total number of hours worked per week is 38000 (Round your answer to the nearest whole number). The total output per week is 380000 (Round your answer to the nearest whole number). The unemployment rate is 5% (Round your answer to one decimal place). The economy enters a recession. Employment falls by 4%, and the number of hours per week worked by each employed worker fails by 2%. Employment is now 912 (round to the nearest whole number), and the total number of hours worked per week is now 35,750.4 (round your answer to one decimal place). In addition, 2.0% of the labor force becomes discouraged at the prospect of finding a job and leaves the labor force. The size of the labor force is now (Round your answer to the nearest whole number) The number of workers unemployed is ☐ (Round…Assume the following for the town of Boone: The town has a total population of 50,000 people, of which 4,000 are under 16 years of age or are institutionalized; 5,000 are full-time students who are not employed and are not seeking work; and 40,000 are employed. The rest of the people are out of work but have been actively seeking work within the past four weeks. What is the unemployment rate in Boone? Instructions: Round your answer to 1 decimal place. percentIn a town of 800 people there are 120 children under the age of 16, 76 retired people, 92 people with part -time jobs, 37 full-time students, and 21 people who watched their children fulltime. There were 154 people without work who gave up looking for a job. Everyone else either had a full-time job or was actively searching for one, and the labor force participation rate is 57.6 %. If fthe unemployment rate is 12.5%, what is the number of full-time employed people?
- Suppose there are 180 million employed people and 20 million unemployed people. a) What is the unemployment rate? b) Suppose that 5 million unemployed people give up their search for jobs and become discouraged workers. What is the new official unemployment rate?7. Refer to Figure 28-1. What type of unemployment is measured by the differences between lines A and B?Suppose that in a population of 200 million persons, 150 million are in the labor force and 120 million are employed. Then the unemployment rate for this economy is: A) 20 percent B) 40 percent C) 60 percent D) 80 percent
- The figure below shows data points for real GDP growth and the change in the unemployment rate for 24 different years in Brazil. Brazil (1990-2013) 6. y= -0.1183x +0.4161 R = 0.2247 2009 -2 -6 -10 6. Real GDP growth (%) Based on the figure, which of the following statements is true? O The unemployment rate increased in all the years that real GDP growth was negative. O Okun's Law appears to be true in Brazil The largest decrease in the unemploymont rate was during 2009, The equation for the line of best ht predicts that unemployment won't change when real GDP growth is ON 4. NON Change in unemployment rate (%)2. The connection between macroeconomics and microeconomics While economists measure unemployment at the macroeconomic level, microeconomic forces are often responsible for this macro aggregate. In other words, the tie between microeconomics and macroeconomics is inevitable when discussing the level of unemployment in an economy. Suppose the following graph represents the market for unskilled labor in a fictional economy. These workers typically represent the young, inexperienced, or uneducated part of the labor force and are therefore most effected by changes in the unemployment rate. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. WAGE (Dollars per hour) 15 12 0 0 400 Labor Supply Labor Demand 800 200 QUANTITY (Thousands of workers) 600 1000 Graph Input Tool Labor Market…The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. According to the figure, the proportion of unemployed workers finding jobs in an average month is %. (Round your response to one decimal place.) U.S. data covering the 1996-2014 period show that the proportion of unemployed workers finding jobs has O A. an indeterminate relationship with the unemployment rate. OB. a strong inverse relationship with the unemployment rate. OC. a weak inverse relationship with the unemployment rate. OD. a strong positive relationship with the unemployment rate. Employment 165.8 million 1.9 4.7 2.6 1.7 5.3 Unemployment Out of the labor force 7.7 million 2.0 77.1 million G