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- If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder than in many other countries?Between January 2012 and January 2019,U.S. employment increased by 17.3 million workers,but the number of unemployed workers declined byonly 6.3 million. How are these numbers consistentwith each other? Why might one expect a reductionin the number of people counted as unemployed tobe smaller than the increase in the number of peopleemployed?
- DERIVED THE UNEMPLOYMENT RATE. NO VOLUTION WIU BE CONVIDERED WRONG GIVEN PO PULATION =110 MILLICN TO TAL LABOR FORCE = 63 MILLION FRICTIONASLLY UNEMPLOYED = 2 MILLION STRUC TURALLY UNEM PLOYED = / MILLION CYCLICALLY UNE A PLOYED = 750 MILLION VEASONAL Y UNEMPLOYED - 2 50 MILIO4(a) Explain the difference between the nominal wage and the real wage. Using a wage setting curve and aprice setting curve illustrate how the real wage determines the equilibrium level of employment in theeconomy. (b) On a new diagram use a wage setting curve and a price setting curve to illustrate the change to theequilibrium level of employment if there is a reduction in the degree of competition faced by firms. Clearlystate what will occur to the real wage and the level of unemployment. (c) Suppose the economy has low aggregate demand with high unemployment. Use a new wage setting curveand price setting curve diagram to explain how the economy could automatically adjust back to equilibrium.Would this occur in reality? Justify your answer.Consider an economy that experiences an outflow of working age people and a decline in aggregatelabour supply as a result. Suppose the aggregate labour demand curve is not affected by this change.(a) Explain, with the aid of the labour-market-equilibrium diagram, how this will affect the equilibriumreal wage and the full-employment level of employment. (b) Explain, with the aid of three separate IS-LM-FE diagrams, how this will affect real output, realinterest rate and the general price level in three steps:(i) before the general price level adjusts;(ii) when the general price level is adjusting;(iii) after the price adjustment process is completed.Is the general price level increasing or decreasing during the price adjustment process? Explain theintuition of your answer with reference to the AD-AS framework.
- Which of the following describes the interest rate on an investment after calculating the impact of inflation?O NominalO RealO FinancialO ProfitPlease only awnser this question I must give uou the previous question below it for context Please awnser this one: In the same model of the labour market as in the previous question,Select one or more:a. A rise in labour supply will lead to a rise in wagesb. Given a constant mark-up a rise in labour productivity will lead to higher wagesc. A rise in product market competition will lead to a higher mark-upd. Equilibrium employment is given by the intersection of the wage and profit curves This one is just for context so you can awnser the question: Given labour market equilibrium with identical workers, as set out in CORESelect one or more:a. Unemployment is always voluntaryb. Workers who are involuntarily unemployed cannot gain a job at any wagec. A Nash equilibrium existsd. Measured unemployment will be zeroWhy does substitution bias arise if we calculate the inflation rate based on a fixed basket of goods?
- A fixed-rate mortgage has the same interest rate over the life of the loan, whether the mortgage is for 15 or 30 years. By contrast, an adjustable-rate mortgage changes with market interest rates over the life of the mortgage. If inflation falls unexpectedly by 3, what would likely happen to a homeowner with an adjustable-rate mortgage?The prime interest rate is the rate that banks charge their best customers. Based on the nominal interest rates and inflation rates in Table 19.10, in which of the years would it have been best to be a lender? Based on the nominal interest rates and inflation rates in Table 19.10, in which of the years given would it have been best to be a borrower?The index number representing the price level changes from 110 to 115 in one year and then from 115 to 120 the next year. Since the index number increases by five each year, is five inflation rate each year? Is the inflation rate the same each year? Explain your answer.
