Unit 5 Assignment: Unemployment and the Cost of Living Economists measure the performance of the labor...
Unit 5 Assignment: Unemployment and the Cost of Living Economists measure the performance of the labor market using unemployment statistics. In this Assignment, you will explain how to measure the cost of living and unemployment in the economy. Review the full details of this Assignment: Unit 5 Assignment
Homework Answers
How to measure the cost of living in the economy?
The following fators would be considered.
1. Consumer price index that is overall cost of the consumer goods. There are different methoda and tools
2. For this purpose the amoount of money needed to a person for the survival is estimated.
3. Measuring the inflation rate is also needed
The way of measuring unemployment in the economy
1. Ratye of unemployment is measured.
2. That is the total number of unemplyed people divided by total working population
3. It is different in different countries
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Unit 5 Assignment: Unemployment and the Cost of Living
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discussion:2 Effects of Unemployment and Inflation This Discussion focuses on how to measure the cost of living and rate of unemployment in the economy. Specific discussion areas include the various forms of unemployment and how they are measured, debates on measuring unemployment rate, and the imperfections of official unemployment rate. Moreover, consumer price index (CPI), rate of inflation, and their impacts on the cost of living. Read Chapter 8, and remember to include references and links to the websites that...
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pls answer all. i will like and thumbs up
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4. Economists measure "cost" as the full "opportunity cost" (op cost) associated with any given use of some set of resources. "Op cost" is measured as what is forgone by not putting these resources to their next best alternative use (i.e. the benefits that must be forgone elsewhere if the resources in question are to be used for this purpose instead). Suppose you get to a point where doing "one more unit" of something (such as pollution clean-up) incurs opportunity...
pls answer all. i will like and thumbs up
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