The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier. Concept Introduction: Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Question

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Answer 1

Question

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.

The unemployment rate has been constant for the previous two months at 4.1% in December and November, 2017.

However, the unemployment rate has decreased since previous year, from 4.7% in December, 2016 to 4.1% in December, 2017.

The decrease in unemployment rate last one year can be calculated as follows:

ESSENTIALS OF ECONOMICS, Chapter 14, Problem 1P

Conclusion:

Thus, unemployment rate is the same as in previous month but has decreased since previous year.

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5. We learnt the following equation in the class: Ak = sy - (n + 8)k where y = ko. Now, I transform this equation into: Ak/k = sy/k - (n + 8). I want you to use a diagram to show the steady state solution of this equation (In the diagram, there will be two curves - one represents sy/k and one represents (n + 8). In the steady state, of course, Ak/k = 0). In this diagram, the x-axis is k. What will happen to this diagram if the value of n increases?

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Answer 2

Question

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.

The unemployment rate has been constant for the previous two months at 4.1% in December and November, 2017.

However, the unemployment rate has decreased since previous year, from 4.7% in December, 2016 to 4.1% in December, 2017.

The decrease in unemployment rate last one year can be calculated as follows:

Conclusion:

Thus, unemployment rate is the same as in previous month but has decreased since previous year.

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Answer 3

Question

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.

The unemployment rate has been constant for the previous two months at 4.1% in December and November, 2017.

However, the unemployment rate has decreased since previous year, from 4.7% in December, 2016 to 4.1% in December, 2017.

The decrease in unemployment rate last one year can be calculated as follows:

Conclusion:

Thus, unemployment rate is the same as in previous month but has decreased since previous year.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.

The unemployment rate has been constant for the previous two months at 4.1% in December and November, 2017.

However, the unemployment rate has decreased since previous year, from 4.7% in December, 2016 to 4.1% in December, 2017.

The decrease in unemployment rate last one year can be calculated as follows:

Conclusion:

Thus, unemployment rate is the same as in previous month but has decreased since previous year.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.

The unemployment rate has been constant for the previous two months at 4.1% in December and November, 2017.

However, the unemployment rate has decreased since previous year, from 4.7% in December, 2016 to 4.1% in December, 2017.

The decrease in unemployment rate last one year can be calculated as follows:

Conclusion:

Thus, unemployment rate is the same as in previous month but has decreased since previous year.

Answer 6

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.

The unemployment rate has been constant for the previous two months at 4.1% in December and November, 2017.

However, the unemployment rate has decreased since previous year, from 4.7% in December, 2016 to 4.1% in December, 2017.

The decrease in unemployment rate last one year can be calculated as follows:

Conclusion:

Thus, unemployment rate is the same as in previous month but has decreased since previous year.

Answer 7

Chapter 14, Problem 1P

To determine

The current unemployment rate compared to the rate one month earlier and to the the rate one year earlier.

Concept Introduction:

Unemployment Rate: Unemployment rate refers to the measure of total unemployed population, voluntarily or involuntarily, within the given area out of the total existing population.

Answer 8

Expert Solution & Answer

Explanation of Solution

As per the data provided on the website, the unemployment rate in December, 2017 is 4.1%. The unemployment rate in November, 2017 was 4.1% and in December, 2016 was 4.7%.