Imagine an economy where the cyclical rate of unemployment is 9% and the natural rate of unemployment is 4.5%. In this economy the total rate ofunemployment would beand the frictional rate of unemployment would be(Select 7% if the rate cannot be determinedfrom the information given.)

Cyclical Rate of Unemployment: The portion of unemployment that results from economic downturns,…

Imagine an economy where the cyclical rate of unemployment is 9% and the natural rate of unemployment is 4.5%. In this economy the total rate of (Select 2% if the rate cannot be determined and the frictional rate of unemployment would be unemployment would be from the information given.)

Imagine an economy where the cyclical rate of unemployment is 9% and the natural rate of unemployment is 4.5%. In this economy the total rate of (Select 2% if the rate cannot be determined and the frictional rate of unemployment would be unemployment would be from the information given.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

op Government statisticians have estimated that: . frictional unemployment is 3.5%; and structural unemployment is 3.0%. If they have estimated that cyclical unemployment is currently -1.9%, what is their estimate for the natural rate of unemployment? Round to one decimal place and do not enter the % sign. If your answer is 6.14%, enter 6.1. If your answer is 6.15%, enter 6.2. If appropriate, remember to enter the sign 6.5
Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million (c) Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. (d) Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Show your work.
There are 64 unemployed people and 1,066 employed people. What is the unemployment rate? Enter a number (measured in percentage terms) rounded to two decimal places. Do not enter a % sign. ASUS f9 f10 f11 f8 O/京团 f6 f7 f5 E3 f4 X
Consider an economy with 50 people unemployed and 900 employed. Its finding rate is 70% and its separation rate is 10%. What is the current unemployment rate? 50. How many people loose/leave a job in period 1? 51. 52. How many people find a job in period 1? 53. 54. What is the natural rate of unemployment? 55. 56. 57. Is this economy currently in an expansion or recession? How do you know? 58. 59.
In 2009, Papua New Guinea had an estimated natural rate of unemployment equal to 4.7% and an actual unemployment rate equal to 4.3%. What was the size of cyclical unemployment?
Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.
Let u denote the unemployment rate, f the job- finding rate, and s the separation rate. The law of motion for the unemployment rate is (where Δυ Ut+1 ut is the change in the unemployment rate): Au suf (1 – u) Au fu - s (1 – u) Au = su + f(1 – u) = Au = s (1 – u) – fu Au = fu+ s (1 – u)
< 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…
I need the answer as soon as possible
no handwritten notes
What is the unemployment rate in an economy where the entire adult population can be categorized as follows: • 32 million people employed • 2 million people unemployed • 1 million discouraged workers, and • 1 million people who are either students, homemakers, retirees, or other people not seeking employment. 6.3% 5.6% 5.9% 4.8%
a) What is the relationship of frictional, structural, seasonal and cyclical unemployment to the full-employment rate of unemployment (alternatively known as the natural rate of unemployment)? Discuss.