To achieve full employment, an economy: would have everyone in the labor force employed. would have a zero unemployment rate

Q: Unemployment is not caused by which one? drops in actual GDP persons looking for more suitable jobs…

A: Unemployment is the condition in the economy when people of the country want to work & are able…

Q: Find a news headline that refers to the business cycle. What phase of the business cycle does your…

A: The business cycle refers to the cyclical upswings and downswings in the economy. It indicates the…

Q: If GDP is currently running faster than potential GDP, can we say, based on that observation alone,…

A: Rapidly rising GDP above the potential level may or may not be harmful for the economy, it actually…

Q: The GDP in Mexico is $1.15 trillion. The rate of inflation is 2.5%. If the population of Mexico is…

A: This question calculates the per capita GDP in Mexico, given the country's GDP and population. Per…

Q: Between 2000 and 2016 by how much did the labor force change? unemployment change? employment…

A: It is given that Labor Force in 2000 is 142583 thousand Labor Force in 2016 is 159187 thousand The…

Q: Most American workers _________ are employed in the service-producing sector. are employed in the…

A: The four different sectors in an economy are primary (agricultural sector), secondary (manufacturing…

Q: What was the February 2022 US unemployment rate?

A: The official unemployment rate in the US is announced by the U.S. Bureau of Labor Statistics.

Q: Draw a graph of a business cycle. Label and explain each phase of the business cycle.

A: These four stages of business cycle are expansion, peak, contraction, and trough.

Q: While Nominal and Real GDP levels are always different,their growth rates are always the same. is it…

A: GDP(gross domestic product) is the total value of goods and services that are manufactured in  a…

Q: Let's assume that employment is falling, and in 6 months time it will have stopped falling and…

A: The above statement is - TRUE

Q: Find a news headline that refers to the business cycle. What phase of the business cycle does your…

A: https://www.washingtonpost.com/business/2021/01/28/us-economy-recession/ Is the US still in…

Q: What are business cycles? What are their consequences?

A: The economic fluctuations can be explained through the business cycle. This can explain the decrease…

Q: In which part of a business cycle is unemployment dropping? Group of answer choices Depression…

A: Depression and peak are the two extreme points of business cycle.

Q: Nominal GDP does not include inflation?

A: GDP measures the market value of all goods and services produced in the economy.

Q: Are the four phases of the business cycle in a certain order?

A: The business cycles are the various fluctuations of output that result in fluctuations in…

Q: If the number of people in the labor force is 140 million and 130 million people are employed, then…

A: Employed are those people who are involved in the economic activities. Unemployed are those people…

Q: Describe the following term: "Unemployment".  Is it: Inflation Price Level National Income none of…

A: Unemployment is defined as when an individual who is willing to work but he is unable to find any…

Q: Discuss the phases of business cycle?

A: Business cycle: The business cycle is the downward and upward movement of gross domestic product…

Q: The labor force is made up of all people who are at least 16 years old and are capable of working.…

A: (Q) The labor force is made up of all people who are at least 16 years old and are capable of…