What impact would indluding members of the military in employment, labor force, and working-age population statistics have on the unemployment rate and the labor foroe participationrate?OA. Including members of the military would reduce the unemployment rate and increase the labor force participation rate,OB. Including members of the military would increase the unemployment rate and reduce the labor force participation rate.OC. Including the military would reduce both the unemployment rate and the labor force participation rate.OP. Indudina the militarv wouid increase both the unemployment rate and the labor force participation rate.

The level of unemployment refers to the number of people who are willing to do a job but are not…

Answered: What impact would including members of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Explain the difference between frictional unemployment and structural unemployment. Be sure to provide appropriate example of each.
The following graph shows, in percentages, how much of the paid labor force in the United States consisted of men and how much consisted of women in both 1950 and 2017. Composition of Employment by Gender (%) 100 Men Men Women Women 20 1950 2017
if the wage gap falls, then unemployment is like to fall O True O False
(a) Explain the difference between the nominal wage and the real wage. Using a wage setting curve and aprice setting curve illustrate how the real wage determines the equilibrium level of employment in theeconomy. (b) On a new diagram use a wage setting curve and a price setting curve to illustrate the change to theequilibrium level of employment if there is a reduction in the degree of competition faced by firms. Clearlystate what will occur to the real wage and the level of unemployment. (c) Suppose the economy has low aggregate demand with high unemployment. Use a new wage setting curveand price setting curve diagram to explain how the economy could automatically adjust back to equilibrium.Would this occur in reality? Justify your answer.
Currently, the Bureau of Labor Statistics does not include homemakers in its employment and labor force totals. What would happen to the unemployment rate and the labor force participation rate if homemakers were included in these numbers? OA. Both the unemployment rate and the labor force participation rate would increase. OB. The unemployment rate would increase and the labor force participation rate would decrease, OC. Both the unemployment rato and the labor force participation rate would decrease. OD. The unemployment rate would decrease and the labor force participation rate would increase.
A6
What are some similarities between the employment-population ratio and the labor force participation rate? A. Both have a higher value for women in 2019 than in 1960. B. Both have a higher value for men in 2019 than in 1960. C. They both increased steadily from 1960 to 2019. D. Both have a lower value for men than for the entire labor force.
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
Use the following table to answer the next four questions: Group # in Millions Work-eligible population Labor force ??? 181 Not in labor force 95 Employed Unemployed ??? 22 According to the table, the labor force participation rate in this economy is equal to 12.2%. 65.6%. 87.8%. 90.1%. 36.9%. O OOO
during expansions. The rate of unemployment tends to during recessions and During prolonged recessions, it is difficult for workers to find a job and many workers become discouraged. Which of the following is a correct statement? O A. Discouraged workers are counted in the labor force and cause the participation rate to fall. B. Discouraged workers are counted in the labor force and cause the participation rate to rise. C. Discouraged workers are not counted in the labor force and cause the participation rate to fall. OD. Discouraged workers are not counted in the labor force and cause the participation rate to rise.
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.
When does the amount of job-search unemployment increase? The amount of job-search unemployment increases when O A. the efficiency wage rate rises B. a demographic shock decreases the rate of entry into the working-age population O C. a prolonged structural slump occurs D. unemployment compensation decreases O O

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