Please correct answer and don't use hand rating The unemployment rate reached the highest in:O 2009O 2012O 2011O 2010Save for LaterAttempt

The unemployment rate peaked during the aftermath of the Great Recession, which officially lasted…

Answered: The unemployment rate reached the…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 18RQ: Are U.S. unemployment rates distributed evenly across the population?

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Similar questions

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.
Are U.S. unemployment rates distributed evenly across the population?
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?
What forces create the natural rate of unemployment for an economy?
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.
What is structural unemployment? Give examples of structural unemployment.
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other wands, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?
Construct the price index for a fruit basket in each year using 2003 as the base year.
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.
Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the GDP deflator to convert from nominal to real would be more appropriate than using the CPI.

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The unemployment rate reached the highest in: O 2009 O 2012 O 2011 O 2010 Save for Later Attempt