Homework Answers
Equilibrium Unemployment Rate= percentage of employed individuals who lose their jobs/(percentage of employed individuals who lose their jobs+ percentage of the unemployed who find work)
Equilibrium unemployment rate= 0.17/(0.17+0.1)= 62.96%
Equilibrium unemployment rate= 62.96%
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In a given economy, 17% of employed individuals lose their jobs every quarter. If 10% of...
In a given economy, 5% of employed individuals lose their jobs every quarter. If 11% of...
In a given economy, 5% of employed individuals lose their jobs every quarter. If 11% of the unemployed find work every quarter, what is the equilibrium unemployment rate (this is percent terms) for a given quarter? Round to the nearest two decimal place.
1. In an economy, 2 percent of the employed lose their job every month (s =...
1. In an economy, 2 percent of the employed lose their job every month (s = 0.02) and 10 percent of the unemployed find a job every month (f = 0.10). a. What is the steady-state rate of unemployment? b. If the economy were at a steady-state unemployment rate and the labour force were 20 million, how many individuals would lose their jobs each month? Suppose the GDP growth rate is 6 percent and inflation is 2 percent. If the...
If 22.8% of the unemployed find jobs and 1.2% of the employed lose their jobs, the...
If 22.8% of the unemployed find jobs and 1.2% of the employed lose their jobs, the natural rate of unemployment will be ________ percent (round to the nearest tenth).
Consider an economy with 500 people in the labor force. At the beginning of every month,...
Consider an economy with 500 people in the labor force. At the beginning of every month, 10 people lose their jobs and remain unemployed for exactly one month; one month later, they find new jobs and become employed. In addition, on January 1 of each year, 20 people lose their jobs and remain unemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose their jobs and remain unemployed for six months before...
Picture an economy with 100,000 workers in its labor force. The unemployment rate is simply the...
Picture an economy with 100,000 workers in its labor force. The unemployment rate is simply the number of unemployed workers divided by the number of workers in the labor force. At the beginning of January, the unemployment rate is 4.76%, so 4,760 people in the labor force are unemployed. Suppose that in January, 10% of the workers who were unemployed at the beginning of the month start new jobs. This means that ________ people leave the unemployment category in January....
ions Krono's economy has the population divided among the following groups: 71 have full-time jobs, 13...
ions Krono's economy has the population divided among the following groups: 71 have full-time jobs, 13 have one part-time job, 11 have two part-time jobs, 18 would like to work and are looking for jobs, 13 would like to work but are so discouraged they have given up looking, 14 are running their own businesses, 6 are retired, and 35 are small children. Calculate the unemployment rate. Round to the nearest two decimal place. cover ng Online
Click to select options: Frictional unemployment Structural unemployment Not employed Cyclical unemployment Part 1: In each...
Click to select options:
Frictional unemployment
Structural unemployment
Not employed
Cyclical unemployment
Part 1: In each of the following examples, identify whether the individual is experiencing cyclical unemployment, frictional unemployment, structural unemployment, or not included in the unemploy category. a. Marge works part-time at a small retail store. She would like to work full-time, but her employer is currently unable to extend her hours. Click to select) b. Jackson just graduated from college with a business degree. He is currently...
Calculating Data for the U.S. Economy. Here are some data for the U.S. economy in January...
Calculating Data for the U.S. Economy. Here are some data for the U.S. economy in January 2017 256.78 million individuals 16 years of age and older. 154.43 million employed. 6.68 million unemployed. In the U.S. economy, the labor force is million. (Enter your response rounded to two decimal places.) The labor force participation rate is percent. (Enter your response as a percentage rounded to two decimal places.) The unemployment rate is percent. (Enter your response as a percentage rounded to...
Question 6 1 pts Consider an economy made up of 100 people, 50 of whom hold...
Question 6 1 pts Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately: O 17 percent. O 20 percent. 25 percent. 12 percent. 10 percent. Previous Next UiZ instructions Question 7 1 pts The unemployment rate will decrease whenever there is a(n): O reduction in the size of the labor force. decrease in the number of unemployed and...
I need your help for this question.Br//H Consider an economy where a fraction f of the...
I need your help for this question.Br//H Consider an economy where a fraction f of the unemployed find work every period, and a fraction s of the employed are separated from their jobs every period. Let U denote unemployment, E employment and L the fixed labour force. a. Derive an expression for the unemployment rate, u = U/L, in the steady state. b. Compute the unemployment rate when s = 0.01 and f = 0.15. c. Suppose that f increases...
In a given economy, 5% of employed individuals lose their jobs every quarter. If 11% of the unemployed find work every quarter, what is the equilibrium unemployment rate (this is percent terms) for a given quarter? Round to the nearest two decimal place.
Consider an economy with 500 people in the labor force. At the beginning of every month, 10 people lose their jobs and remain unemployed for exactly one month; one month later, they find new jobs and become employed. In addition, on January 1 of each year, 20 people lose their jobs and remain unemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose their jobs and remain unemployed for six months before...
ions Krono's economy has the population divided among the following groups: 71 have full-time jobs, 13 have one part-time job, 11 have two part-time jobs, 18 would like to work and are looking for jobs, 13 would like to work but are so discouraged they have given up looking, 14 are running their own businesses, 6 are retired, and 35 are small children. Calculate the unemployment rate. Round to the nearest two decimal place. cover ng Online
Click to select options:
Frictional unemployment
Structural unemployment
Not employed
Cyclical unemployment
Part 1: In each of the following examples, identify whether the individual is experiencing cyclical unemployment, frictional unemployment, structural unemployment, or not included in the unemploy category. a. Marge works part-time at a small retail store. She would like to work full-time, but her employer is currently unable to extend her hours. Click to select) b. Jackson just graduated from college with a business degree. He is currently...
Calculating Data for the U.S. Economy. Here are some data for the U.S. economy in January 2017 256.78 million individuals 16 years of age and older. 154.43 million employed. 6.68 million unemployed. In the U.S. economy, the labor force is million. (Enter your response rounded to two decimal places.) The labor force participation rate is percent. (Enter your response as a percentage rounded to two decimal places.) The unemployment rate is percent. (Enter your response as a percentage rounded to...
Question 6 1 pts Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately: O 17 percent. O 20 percent. 25 percent. 12 percent. 10 percent. Previous Next UiZ instructions Question 7 1 pts The unemployment rate will decrease whenever there is a(n): O reduction in the size of the labor force. decrease in the number of unemployed and...
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