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QUESTION An unusually large age cohort (e.g. the baby boomers) reaches the age of retirement. Assuming...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate:...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate: #Employed, #Labor Force, #Not in Labor Force and Unemployment Rate B) If the economy was in recession and is now starting an expansion would we expect unemployment to increase or decrease? Which types of unemployment should change? C) The next unemployment numbers are reported and unemployment rises, is this consistent with your estímate in B? Explain why the increase in unemployment may be due...
The overall population for Region A is 90 million people. The labor force contains 44 million...
The overall population for Region A is 90 million people. The labor force contains 44 million people, 35 million people are employed, and 9 million are unemployed. What is the unemployment rate? Round your answer to the nearest whole number. Suppose that a baby boom occurs between the years 2025-2030, similar to the baby boom following World War II. What do you expect to happen to the labor force participation rate in the year 2090-2100, holding all else constant? The...
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...
1. The reservation wage likely increases when A. the price of consumption increases. B. the wage...
1. The reservation wage likely increases when A. the price of consumption increases. B. the wage increases. C. the price level (of consumption and wages) increases. D. non-labor income increases. E. one is a discouraged worker. 2. Due to the added worker effect, the labor force participation rate A. increases during a recession. B. decreases during a recession. C. a fairly useless statistic. D. over-counts the number of workers wanting a job. E. over-counts the number of workers with a...
Table 1 Total population Working-age population Employment Unemployment 20,000 15,000 1,000 100 2) Refer to Table...
Table 1 Total population Working-age population Employment Unemployment 20,000 15,000 1,000 100 2) Refer to Table I. The unemployment rate for this simple economy equals A) (100/1,000) x 100. B) (100/1,100) x 100. C) (100/15,000) * 100. D) (100/20,000) 100. 3) Refer to Table 1. The labor force participation rate for this simple economy equals A) (1,000/1,100) x 100. B) (1,000/15,000) 100. C) (1,100/15,000) x 100. D) (1,100/20,000) * 100. 4) Suppose the working-age population of a fictional economy falls...
Thank you Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly...
Thank you
Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes the question prompts you to "Calculate you must show how you arrived at your final answer The table below shows unemployment and labor force statistics for an economy Actual rate of unemployment 3% 125 million Natural rate of unemployment Population of the country Number of people employed Number of...
Questions 12-16 Gamma's Labour Force Metrics in 2019 Employment 20,000,000 Unemployment 2,000,000 Unemployment rate A=? Labour...
Questions 12-16 Gamma's Labour Force Metrics in 2019 Employment 20,000,000 Unemployment 2,000,000 Unemployment rate A=? Labour force BE? Labour force participation rate C=? Employment-population rate 65% Working-age population D=? Persons not of working age 12,000,000 12. Gamma's total labour force was a) 20 million b) 22 million c) 27 million d) 39 million Gamma's working-age population was a) 22,000,000 b) 29,329,765 c) 30,769,230 d) 31,236,762 Gamma's labour force participation rate was (1st decimal; no rounding) was a) 65.1% b) 68.4%...
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1....
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1. A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the production function. Suppose the economy's production function is Y- 75x N xK, where K- 1000 and N 20, what happens if both inputs K and N are tripled? a. Y doubles. b. Y triples. c. Y quadruples d. Y is unchanged. 2. An adverse supply shock...
19. Suppose an island economy's real GDP is $10,000 in 2008 and 512,000 in 2018. The...
19. Suppose an island economy's real GDP is $10,000 in 2008 and 512,000 in 2018. The population is 100 people in 2008 and 110 people in 2018. Show work a. What is the growth rate of real GDP? b. What is the growth rate of real GDP per capita? 20. How many years would it take for real GDP to double if its growth rate is 2962 21. The quantity of goods and services that can be produced by one...
HOMEWORK # 3 Productivity. Outeut and Employment #1 suppose the economy's production function is v-AK0.3 0.7...
HOMEWORK # 3 Productivity. Outeut and Employment #1 suppose the economy's production function is v-AK0.3 0.7 When K 2,000 N=50 what is r? (in % form and 1 decimal) #2 According to Okun's law, if actual output grew 3% and full-employment output rose 5%, what would be the change in the unemployment rate? #3 Cupcake Stand # Cupcakes Produced # workers 0 12 30 36 40 If Cupcakes sell for $5 each and the wage rate (nominal) is $40, how...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate: #Employed, #Labor Force, #Not in Labor Force and Unemployment Rate B) If the economy was in recession and is now starting an expansion would we expect unemployment to increase or decrease? Which types of unemployment should change? C) The next unemployment numbers are reported and unemployment rises, is this consistent with your estímate in B? Explain why the increase in unemployment may be due...
The overall population for Region A is 90 million people. The labor force contains 44 million people, 35 million people are employed, and 9 million are unemployed. What is the unemployment rate? Round your answer to the nearest whole number. Suppose that a baby boom occurs between the years 2025-2030, similar to the baby boom following World War II. What do you expect to happen to the labor force participation rate in the year 2090-2100, holding all else constant? The...
Table 1 Total population Working-age population Employment Unemployment 20,000 15,000 1,000 100 2) Refer to Table I. The unemployment rate for this simple economy equals A) (100/1,000) x 100. B) (100/1,100) x 100. C) (100/15,000) * 100. D) (100/20,000) 100. 3) Refer to Table 1. The labor force participation rate for this simple economy equals A) (1,000/1,100) x 100. B) (1,000/15,000) 100. C) (1,100/15,000) x 100. D) (1,100/20,000) * 100. 4) Suppose the working-age population of a fictional economy falls...
Thank you
Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes the question prompts you to "Calculate you must show how you arrived at your final answer The table below shows unemployment and labor force statistics for an economy Actual rate of unemployment 3% 125 million Natural rate of unemployment Population of the country Number of people employed Number of...
Questions 12-16 Gamma's Labour Force Metrics in 2019 Employment 20,000,000 Unemployment 2,000,000 Unemployment rate A=? Labour force BE? Labour force participation rate C=? Employment-population rate 65% Working-age population D=? Persons not of working age 12,000,000 12. Gamma's total labour force was a) 20 million b) 22 million c) 27 million d) 39 million Gamma's working-age population was a) 22,000,000 b) 29,329,765 c) 30,769,230 d) 31,236,762 Gamma's labour force participation rate was (1st decimal; no rounding) was a) 65.1% b) 68.4%...
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1. A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the production function. Suppose the economy's production function is Y- 75x N xK, where K- 1000 and N 20, what happens if both inputs K and N are tripled? a. Y doubles. b. Y triples. c. Y quadruples d. Y is unchanged. 2. An adverse supply shock...
19. Suppose an island economy's real GDP is $10,000 in 2008 and 512,000 in 2018. The population is 100 people in 2008 and 110 people in 2018. Show work a. What is the growth rate of real GDP? b. What is the growth rate of real GDP per capita? 20. How many years would it take for real GDP to double if its growth rate is 2962 21. The quantity of goods and services that can be produced by one...
HOMEWORK # 3 Productivity. Outeut and Employment #1 suppose the economy's production function is v-AK0.3 0.7 When K 2,000 N=50 what is r? (in % form and 1 decimal) #2 According to Okun's law, if actual output grew 3% and full-employment output rose 5%, what would be the change in the unemployment rate? #3 Cupcake Stand # Cupcakes Produced # workers 0 12 30 36 40 If Cupcakes sell for $5 each and the wage rate (nominal) is $40, how...
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