? Question 2.5: What would happen to the labor force participation, employment, and unemployment rates if a group of people who were employed full time decide to stay at home with their kids? (Choose one answer for each category) Labor Force Participation Rate ⚫Decrease Increase Employment Rate • Decrease Increase Unemployment Rate Decrease Increase Stay the same Stay the same • Stay the same

? Question 2.5: What would happen to the labor force participation, employment, and unemployment rates if a group of people who were employed full time decide to stay at home with their kids? (Choose one answer for each category) Labor Force Participation Rate ⚫Decrease Increase Employment Rate • Decrease Increase Unemployment Rate Decrease Increase Stay the same Stay the same • Stay the same

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Economic Fluctuations, Unemployment, And Inflation

Section: Chapter Questions

Problem 15CQ

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Similar questions

What criteria do the BLS use to count someone as employed? As unemployed?
Are U.S. unemployment rates distributed evenly across the population?
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?
What is frictional unemployment? Give examples of frictional unemployment.
What is structural unemployment? Give examples of structural unemployment.
Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are not in the labor force? What are the proportions of employed, unemployed and nut in the labor force in the population? Hint: Proportions ate percentages.
Is it desirable to eliminate natural unemployment? Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?
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