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Q.3.1 Briefly explain the four different types of
Q.3.2 Discuss the ways in which unemployment can be reduced on the
the economy.
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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?Columns 1 and3 in the table below show employment and the price level in the economy. Aasume that the labour foroe in the economy is 11.0 milion. Compute and enter in column 2 the unemployment rate at each level of employment. For nach row (xcopt the first), compute and enter in column 4 the annual rate of intation. (Round your answers to hwo decmal places) Employment (milions of workers) Price Rate of Infation Lhemployment Rate (%) Level () 9.5 1.2 9.6 1.28 9.7 1.37 9.8 1.48 1.62 10 1.79 10.1 201 10.2 23“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.…
- Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. O Improving a widely used job-search website so that it matches workers to job vacancies more effectively O Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks O Increasing the benefits offered to unemployed workers through the government's unemployment insurance program10 DRAW A GRAPH. WITHOUT GRAPH THUMBS DOWN!Suppose the markup of goods prices over marginal cost is 2% and the wage-setting equation is W=P(1-u) with u being the unemployment rate.1. What is the Natural level on Unemployment?2. What is the real wage as determined by the price setting equation?3. If the markup increases to 2.5% due to an increase in the price of Oil what happens to the natural rate of employment? Explain briefly and graphically this change.Which of the following questions does the official unemployment rate, U3. answer? What percentage of the working age population is classified as unemployed? How many workers are discouraged? O What percentage of the labor force is classified as unemployed? How many people in the economy are underemployed?
- 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.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.Suppose the economy of Mistania has an adult population of 600 million people. 43 million workers are unemployed and 437 millions are employed. What is the labor force? ← OBelow the Natural Rate of Unemployment OAt the Natural Rate of Unemployment OAbove the Natural Rate of Unemployment million What is the unemployment rate? Indicate how the unemployment rate in Mistania compares to the Natural Rate of 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 reasonThe 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 GHero expert yaar Hand written solution is not allowed.
