Number of unemployed .

Question

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Answer 1

Question

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

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Consider the simple discrete job search model that we studied in class. Only the unemployed can receive one offer per period from F(w) that is a uniform distribution on [0,2]. There is a constant probability of being laid off at the end of each period while employed. Assume that she can get a new offer right away when laid off. We want to understand the reservation wage, WR, in this model. Assume that u(c) = c. The parameters are a discount factor ẞ and an unemployment benefit b.R and show that T is contraction on [0, ∞). Explicitly state any additional assumptions that you may need.(Grading guide line: 5pt for the exact form of T, 10pt for showing contraction, and 5pt for stating correct assumptions.)< (b) Discuss why (a) is useful to understand the reservation wage wд in this economy.< (c) We write WR = WR (b,ẞ,λ) to reveal its dependence on (b,ẞ,λ). Show that 0 ≤ aWR дь OWR дл ≤1 and ≥0. What about ? awR ав State any additional assumptions that you may need.< (d) Briefly explain the…

Answer 2

Question

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

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

Answer 3

Question

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Want to see more full solutions like this?

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

Answer 4

Question

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Want to see more full solutions like this?

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

Answer 5

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Answer 6

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Answer 7

Chapter 20, Problem 1CQQ

To determine

Number of unemployed.

Answer 8

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Answer 12

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Answer 13

Ch. 20.1 - Prob. 1QQ Ch. 20.2 - Prob. 2QQ Ch. 20.3 - Prob. 3QQ Ch. 20.4 - Prob. 4QQ Ch. 20.5 - Prob. 5QQ Ch. 20 - Prob. 1CQQ Ch. 20 - Prob. 2CQQ Ch. 20 - Prob. 3CQQ Ch. 20 - Prob. 4CQQ Ch. 20 - Prob. 5CQQ

Number of unemployed .

Solution Summary: The author explains that the number of unemployed is 10 from the total population of 100. Option a is correct, while option b is incorrect.

Number of unemployed.

Answer to Problem 1CQQ

Explanation of Solution

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Chapter 20 Solutions