According to the Bureau of Labor Statistics (BLS): the actual unemployment rate was 8.3% and the...
According to the Bureau of Labor Statistics (BLS): the actual unemployment rate was 8.3% and the natural rate of unemployment was 5.2%. Based on this information you can conclude:
Question 8 options:
the economy is in an expansion
production in the economy is at the long-run level
the economy is in a contraction
Homework Answers
Answer
The economy is in a contraction.
When the actual rate of unemployment is higher than the natural rate then the economy will be experiencing recession.
The natural rate of unemployment is the one that persists when the economy is having neither expansion nor contraction. The production of the economy in the long run will be at this level
Add Answer to:
According to the Bureau of Labor Statistics (BLS): the actual
unemployment rate was 8.3% and the...
QUESTION 8 According to the Bureau of Labor Statistics, the actual unemployment rate was 8.3% in...
QUESTION 8 According to the Bureau of Labor Statistics, the actual unemployment rate was 8.3% in February 2012 and the natural rate of unemployment was 5.2%. The unemployment rate was frictional; 4% cyclical; 3.1% structural; 4% cyclical; 14% QUESTION 9 You are a college student and not working or looking for work. You are: unemloyed
Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.
4. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Van, Amy, Carlos, Deborah, Janet, and Felix. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as Employed, Unemployed, "Not in the labor force" but still part of the civilian noninstitutional population, or "Not in the civilian noninstitutional population" if not in the civilian noninstitutional population. Complete the right half...
According to the US Bureau of Labor Statistics (BLS), in November 2019 in the US the...
According to the US Bureau of Labor Statistics (BLS), in November 2019 in the US the labor force increased by 40,000 and the number of people unemployed declined by 44,000. How much did the total employment in the US change in November 2019? a. It decreased by 4,000. b. It increased by 4,000. c. It increased by 84,000. d. It increased by 266,000.
The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the...
The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the employment picture for the entire population. Once the adjustment is made, the BLS uses the figures to generate key employment indicators.The following table presents information from the household surveys conducted for November 2017 and, for purposes of comparison, November 2016 . The numbers in the table are listed in thousands. For example, the number of unemployed in the table for November 2017 indicates that...
3. What is the definition of an "unemployed" person according to the U.S. Bureau of Labor Statistics? Find out the...
3. What is the definition of an "unemployed" person according to the U.S. Bureau of Labor Statistics? Find out the U.S. rates of unemployment for 1979-2018 and plot them into a graph. (a) "The unemployment rate has gone down, which means the economy is doing really well." True or false? Explain. (b) What are the three types of unemployment? Explain each one. What is natural rate of unemployment?
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status...
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as Employed, Unemployed, "Not in the labor force" but still part of the civilian noninstitutional population, or "Not in the civilian noninstitutional population" if not in the civilian noninstitutional population.PersonKevin is a 49 -year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job...
1. Find the September 6, 2019, news release from the Bureau of Labor Statistics (BLS) regarding...
1. Find the September 6, 2019, news release from the Bureau of Labor Statistics (BLS) regarding the U.S. employment situation and use it to answer the following questions. a. How many jobs were added in the month of August? b. What is the current U.S. unemployment rate? c. What is the source for the BLS’ employment change data? d. What is the source for the BLS’ unemployment rate data? e. What is an establishment, in the context of BLS statistics?...
Complete the following questions. 1. The latest unemployment findings by the Bureau of Labor Statistics turned...
Complete the following questions. 1. The latest unemployment findings by the Bureau of Labor Statistics turned up the following results. Structural unemployment is 3%, cyclical unemployment is 1%, and frictional unemployment is 6%. a. Based upon these values, what is the current unemployment rate? b. Based upon these values, what is the natural rate of unemployment or full employment rate?
The Bureau of Labor Statistics (BLS) reported that 9.9% of adults aged 20 to 24 years were unemployed in February 2015. Suppose that Jacqui believes that in her city the unemployment rate is higher th...
The Bureau of Labor Statistics (BLS) reported that 9.9% of adults aged 20 to 24 years were unemployed in February 2015. Suppose that Jacqui believes that in her city the unemployment rate is higher than the reported proportion. She determines the unemployment status of 450450 randomly selected adults in the given age range. She decides to conduct a
3. The table below shows unemployment and labor force statistics for an economy. Actual rate of...
3. The table below shows unemployment and labor force statistics for an economy.Actual rate of unemployment3%Natural rate of unemployment4%Population of the country125mitlonNumber of people employed97miltionNumber of people unemployed3 millionNumber of people employed part-time5 millionNumber of discouraged workers2 milliona. Calculate the size of the labor force.b. Calculate the labor force participation rate. Show your work.c. Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain.d. Calculate...
QUESTION 8 According to the Bureau of Labor Statistics, the actual unemployment rate was 8.3% in February 2012 and the natural rate of unemployment was 5.2%. The unemployment rate was frictional; 4% cyclical; 3.1% structural; 4% cyclical; 14% QUESTION 9 You are a college student and not working or looking for work. You are: unemloyed
The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the employment picture for the entire population. Once the adjustment is made, the BLS uses the figures to generate key employment indicators.The following table presents information from the household surveys conducted for November 2017 and, for purposes of comparison, November 2016 . The numbers in the table are listed in thousands. For example, the number of unemployed in the table for November 2017 indicates that...
3. What is the definition of an "unemployed" person according to the U.S. Bureau of Labor Statistics? Find out the U.S. rates of unemployment for 1979-2018 and plot them into a graph. (a) "The unemployment rate has gone down, which means the economy is doing really well." True or false? Explain. (b) What are the three types of unemployment? Explain each one. What is natural rate of unemployment?
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as Employed, Unemployed, "Not in the labor force" but still part of the civilian noninstitutional population, or "Not in the civilian noninstitutional population" if not in the civilian noninstitutional population.PersonKevin is a 49 -year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job...
Complete the following questions. 1. The latest unemployment findings by the Bureau of Labor Statistics turned up the following results. Structural unemployment is 3%, cyclical unemployment is 1%, and frictional unemployment is 6%. a. Based upon these values, what is the current unemployment rate? b. Based upon these values, what is the natural rate of unemployment or full employment rate?
Most questions answered within 3 hours.
-
Suppose car models A, B, and C are popular among drivers.
Suppose 12% of the drivers...
asked 6 minutes ago -
write a program that finds the number of zeros in an 8-bit data
item using assembly...
asked 7 minutes ago -
Which statement is always true: The total energy of a closed
system...
A) is always equally...
asked 21 minutes ago -
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 2 hours ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 3 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 4 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 4 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 5 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 6 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 7 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 8 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 8 hours ago