EBK MACROECONOMICS
10th Edition
ISBN: 9780134896571
Author: CROUSHORE
Publisher: VST
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 12, Problem 6AP
a
To determine
To know: The impact on natural rate of
b)
To determine
To know: The impact on natural rate of unemployment when a new internet service enables people to check availability of jobs.
c)
To determine
To know: The impact on natural rate of unemployment when unemployment benefits increases from 6 months to a year.
d)
To determine
To find: The impact on natural rate of unemployment when there is shift in demand from traditional consumer goods to modern goods.
e)
To determine
To ascertain: The impact on natural rate of unemployment when economy experiences recession due to tight
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which of the following would decrease the unemployment rate? an increase in the minimum wage an increase in the efficiency wage an increase in labor union membership government aid to retrain unemployed workers
Suppose the number of employed people in Pakistan is 20.5 million. The unemployment rate in this economy is 8.8 percent, and the labor force participation rate is 65 percent.
What is the size of the labor force and working-age population?
How many people are unemployed?
Explain and analyze different government policies which affect the unemployment rate in Pakistan? ( Maximum 200 words).
Before June 2020, the labor market in Pakistan was at equilibrium with an equilibrium wage (WE) of Rs. 15,000 and equilibrium quantity of labor (LE) 10 million. In the last week of June, 2020, government of Pakistan imposed a minimum wage Act raising the minimum wage to Rs. 20,000. Using a graph, explain the effect of imposition of minimum wage on unemployment in labor market of Pakistan .
In which of the following cases will we observe unemployment?
the quantity of labor demanded is greater than the quantity of labor supplied at the going wage rate.
the wage is below the level that balances supply and demand for labor.
there is a shortage of workers.
the quantity of labor demanded is less than the quantity of labor supplied at the going wage rate.
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will . The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the government Establishing government-run employment agencies to connect unemployed workers to job vacancies Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeksarrow_forwardSharon was laid off from her job but has decided to go back to school full time. Which of the following statements is true? Sharon is unemployed since she was laid off from her job. Sharon is employed as a full-time student. Sharon is not unemployed since she is not looking for work. Sharon is not unemployed because she didn't like her job anyway.arrow_forwardDuring the initial months of the COVID pandemic, the number of unemployed people in the State of Illinois peaked at 1,108,211 in April 2020. By December 2021, the number of unemployed in Illinois had dropped down to 324,510 people. What is the overall percent decrease in the number of unemployed people in Illinois from April 2020 to December 2021? Please round your answer the nearest percent. Show your work.arrow_forward
- Which of the following would NOT be considered unemployed? Group of answer choices A laid off autoworker from Michigan looking for a new job in California. A drama school graduate who gives up looking for acting jobs in Hollywood. A college student home for the summer looking for a construction job. A former engineer looking for a part-time job to supplement their income.arrow_forwardWhich one of the following will increase the officially reported level of unemployment? A) More people resign from low-paid jobs. B) The school leaving age is raised. C) The retirement age is extended. D) More unemployed people become disheartened and give up looking for work.arrow_forwardIf the number of unemployed stays the same and the number of people in the labor force declinesarrow_forward
- The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Lucia just graduated from college and is looking for a full-time position with an investment banking firm. Demand for new vehicles has fallen during a recent recession, and Sharon has been laid off from her job at an automotive factory. Kenji recently lost his job as a delivery driver. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) 3.6 0.0 1.1 4.7 Frictional Cyclical Structural Total unemployment True or False: This economy is not currently at its natural rate of unemployment. True False Structural Frictional Cyclicalarrow_forwardWhen the following events happen, does the unemployment rate rise (R), fall (F), or stay the same (S)? just write the letter (R,F,S) next to the question Workers are laid off and start looking for work. People without jobs who are looking for work find work. People without jobs and looking for work give up and stop looking. People without jobs and not looking for work become encouraged and decide to start looking for work.arrow_forwardSuppose the world price of wood pulp falls substantially. The demand for labour among wood pulp-producing firms in northern British Columbia will .The demand for labour among paper and packaging-producing firms in southern British Columbia, for which wood pulp is an input, The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. will Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Establishing government-run employment agencies to connect unemployed workers to job vacancies Extending the number of weeks for which unemployed workers are eligible for Employment Insurance benefits from the government Improving a widely used job search website so that it matches workers to job vacancies more effectivelyarrow_forward
- Which of the following situations would count the individual as officially unemployed a waiter was laid off from work during the pandemic but will be re-hired when the restaurant re-opens a full-time college student who does not work and is not looking for work a man who stays at home to take care of the children and is not looking for work a retired professorarrow_forwardThe three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Kate just moved with her husband to Bismark, North Dakota. She's looking for a job as a judicial clerk. Hubert left his job as an electrician when his wife took a position in another region. The quantity of electrical services demanded is considerably lower in the new region, in part because of high union- negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of electrician jobs. A recent recession has reduced the number of visitors to a local water park. The park has had to lay off many of its employees, including Poornima. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) 3.6 0.0 1.1 Frictional Cyclical Structural Total…arrow_forwardIn August of 2020, the United States unemployment rate was 8.4%; in September, it was 7.8%. Which of the following is true? There is a 7.7% decrease in the United States unemployment rate from August to September, 2020. There is a 0.077 percentage point decrease in the United States unemployment rate from August to September, 2020. There was a 0.071 percentage point decrease in the United States unemployment rate from August to September, 2020. There was a 0.6% decrease in the United States unemployment rate from August to September, 2020. There was a 7.1% decrease in the United States unemployment rate from August to September, 2020.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc