If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, thenA. unemployment will be close to zero in 11 months.B. employment is 5,500,000 people.C. the yearly inflow to unemployment is 500,000 people.D. the average person will expect to be employed in about 5/11 of a month.E. the number of unemployed is 5,500,000 people.

Unemployment alludes to the condition of being without a paid job or occupation while effectively…

If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then OA. unemployment will be close to zero in 11 months. OB. employment is 5,500,000 people. OC. the yearly inflow to unemployment is 500,000 people. O D. the average person will expect to be employed in about 5/11 of a month. OE. the number of unemployed is 5,500,000 people.

If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then OA. unemployment will be close to zero in 11 months. OB. employment is 5,500,000 people. OC. the yearly inflow to unemployment is 500,000 people. O D. the average person will expect to be employed in about 5/11 of a month. OE. the number of unemployed is 5,500,000 people.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Suppose the working-age population is 50 million, the labour force is 20... Suppose the working-age…

A: The objective of the question is to calculate the number of unemployed people given the working-age…

Q: Suppose the total population of an economy is 150 million, the labor force is 100 million, and the…

A: Answer to the question is as follows :

Q: QUESTION 1 Susan is searching for a job that suits her tastes about where to live. Jane is looking…

A: Unemployment is defined as the absence of a job or the active search for work but unable to find it.…

Q: The reference base period for the CPI is 1982-1984. In January 2018, the CPI was 247.9. What does…

A: CPI is measured using fixed basket of goods.

Q: Suppose that 22 million people are employed, 2 million people are unemployed, and 44 million people…

A: Number of employed people = 22 millionNumber of unemployed people = 2 millionNumber of people are 15…

Q: Consider the following data: Labor force participation rate Total population 16 years of age and…

A: The labour force participation rate is calculated by expressing the number of persons in the labour…

Q: Based on the data in the table below, Population Labor force Unemployment rate Year 1 320 million…

A: The total number of individuals who are either employed or actively seeking employment in a…

Q: Cyclical unemployment is O when workers stop looking for jobs because they feel no jobs are…

A: There are 4 types of unemployment that is:- Seasonal unemployment. Frictional unemployment. Cyclical…

Q: Boris lost his job when the coal mine at which he had worked closed. After more than a year of…

A: Employed Person: The term employed refers to the state of engaging in work. If a person works and…

Q: QUESTION 20 Which of the following is correct? O Cyclical unemployment is caused by an increase in…

A: An individual who belong to a legal age of working but are not working due to various reason is…

Q: What does the relationship between the unemployment rate and the natural unemployment rate tell us…

A: Unemployment rate is the percentage of the labor force that is unemployed.

Q: In March 2016, Canada's unemployment rate was 7.7 percent. In November 2016, it was 6.3 percent. If…

A: A country’s economic performance is measured using three key indicators, one of which is the…

Q: When Sue graduated from college, she got a job with a starting salary of $30,000. When Sue's sister…

A: Sue got a job with starting salary of $30,000 Jan got a job with starting salary of $36,000 after…

Q: What occurs in the labor market when cyclical unemployment increases and other things remain the…

A: Natural unemployment is the situation when several people are unemployed due to a change in the…

Q: Consider an economy with 500 people in the labor force. At the beginning of every month, 5 people…

A: The short spell of unemployment is for 2 to 14 weeks, intermediate spell is for 15 to 26 weeks, and…

Q: Incorrect Question 1 A country has 100 million people, 80 million of whom are adult…

A: People who are working or have a job are considered employed and people who are looking for a job…

Q: Population Employed Structurally Unemployed Frictionally Unemployed Cyclically Unemployed 1,500,000…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Determine which account of the Balance-of-Payments is affected the following transaction: Half of…

Question

If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then
A. unemployment will be close to zero in 11 months.
B. employment is 5,500,000 people.
C. the yearly inflow to unemployment is 500,000 people.
D. the average person will expect to be employed in about 5/11 of a month.
E. the number of unemployed is 5,500,000 people.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Define unemployment

VIEW

Step 2: Explain each option

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

hello! econ mcq how do i do this?
Need help with this problem.
Edgar is working part-time. Diane is on layoff. Who is included in the Bureau of Labor Statistics' "employed" category? Select one: O a. both Edgar and Diane O b. only Edgar O C. neither Edgar nor Diane O d. only Diane 4
Question 33 One shortcoming of the official unemployment rate is that it a) is unreliable because it is easily manipulated by the government. b) accounts for underemployed workers and marginally attached workers. Oc) is very stable through recessions and is unreliable as an economic indicator. O d) includes only workers who have no jobs and are actively seeking work. O e) only indicates the length of unemployment.
Refer to Table 12. The total number of people employed is (CLOS # 2) Table 12. Category Number Labor force participation75% rate Unemployment rate 10% Total population years of age and older) (16100,000 Select one: O a. 60,000. O b. 80,000. O c. 90,000. O d. 67,500.
When cyclical unemployment is zero, O the unemployment rate equals the natural unemployment rate. O frictional unemployment is zero. O cyclical and frictional unemployment are zero. O the natural unemployment rate is zero. O structural unemployment is zero.
The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2014. Age 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over Total Source: "Labor Force Statistics from the Current Population Survey."Bureau of Labor Statistics. What is the national unemployment rate? O 3.9% O 6.2% Employed Unemployed (Thousands of People) (Thousands of People) 4,548 1,106 13,894 1,747 95,497 5,270 24,395 1,107 7,971 387 146,305 9,617 10.5% 59.0% Not in Labor Force (Thousands of People) 10,979 6,438 23,744 14,262 36,602 92,025
Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate? Select one: O a. 6.7% O b. 10.5% O c. 9.5% O d. 9%
Suppose the existing labor force inside the country is 1,000,000 persons, of whom 900,000 are employed and 100,000 unemployed. Suddenly 100,000 overseas workers are thrown out of their jobs overseas and must return home. Of these, 95,000 become employed while 5,000 have difficulty finding jobs and are unemployed. As a result of this development, the unemployment rate of the country from to O a. rises; 11 percent; 11.6 percent O b. falls; 10 percent; 9.5 percent O c. rises; 10 percent; 11 percent O d. falls; 11 percent; 10 percent
ecco
All of the following are problems in measuring the unemployment rate except that O A. discouraged workers are not included in the labour force. OB. there is a lack of verification of people's responses in the household survey. OC. part-time workers are included as employed. ⒸD. people on active military service are included as unemployed.
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