Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 22, Problem 1.9P
To determine
Effect of
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Principles of Economics (12th Edition)
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- Would you expect the natural rate of unemployment to be roughly the same in different countries?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_forwardWhat is the current U.S. unemployment rate? Why has it changed over the last years or so?arrow_forward
- Between January 2010 and January 2016, U.S. employment increased by 12.1 million workers, but the number of unemployed workers declined by only 7.3 million. How are these numbers consistent with each other? Why might one expect a reduction in the number of people counted as unemployed to be smaller than the increase in the number of people employed?arrow_forwardWhich of the following types of unemployment is experienced when workers are moving between jobs? Cyclical unemployment Frictional unemployment Voluntary unemployment Disguised unemploymentarrow_forwardNot all groups in our society experience equal opportunity to work. The purpose of this discussion board is to allow you to research and explain the causes of disparity between current total U.S. unemployment and the unemployment rate for a demographic of your choice. Do not just list unemployment rates. Explain what causes the rates for the demographic of your choice to be different from the National average. Visit the Bureau of Labor Statistics website. What is the current national unemployment rate? Find the unemployment rate for the demographic group that best fits a description of you (for example, based on age, sex, and race) or choose a demographic group of interest. Is the rate for that demographic higher or lower than the national average? What are some reasons for the differences? Do some research in support of what you present. What factors contribute to the differences? Covid-19 caveat: The Pandemic did not necessarily impact all demographics in the same way.arrow_forward
- Investigate and discuss the growing issue of Unemployment in Trinidad and Tobago.arrow_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_forwardA friend and fellow student shares her employment experience over the last 12-week summer break. It took her one full week to find a job. She started on the first day of week two and was able to keep her job for the remaining eleven weeks. Use this information to answer the following three questions, assuming the unemployment rate is not changing: 1. Calculate the rate of job finding (f) for the summer, using an average rate per week. Enter this value in the box below. Note that if fis the rate of job finding, then the average spell of unemployment is (1/f). The value of fis: 1 2. Calculate the rate of job separation (s), using an average rate per week. Enter this value into the box below. Note that if s is the rate of job separation, then the average length of employment is (1/s). The value of s is: 11arrow_forward
- Describe how a rise in the wage rate might cause unemployment.arrow_forwardWhen the following events happen, does the unemployment rate rise, fall, or stay the same? Briefly motivate your answer. 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 look for work People without jobs and not looking for work take a job immediatelyarrow_forwardWhat is the natural unemployment rate? What is cyclical unemployment? What is frictional unemployment? What are possible reasons that would create frictional unemployment? What policies can a government follow to reduce frictional unemployment in a country? What is structural unemployment? What are possible reasons that would create structural unemployment? What policies can a government follow to reduce structural unemployment in a country?arrow_forward
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