Homework Answers
a) If the number of adults in the market is fixed then the labor force will also be variable , that will change with the people actively seeking work or working.
the answer is "B".
b) "A", this is a production function.
c) "A" it will be zero.
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QUESTION 2 If the total number of adults in the economy is fixed ( a fixed...
6. Suppose that the long run aggregate production function can be written as Y = A*F(K,...
6. Suppose that the long run aggregate production function can be written as Y = A*F(K, L), where Y is the value of aggregate supply of goods and services, A is a measure of the level of technological sophistication in the economy, K is the aggregate capital stock of machinery, and L represents the labor force in the economy. The production function, which relates inputs of K and L to output is represented by F(.). (15 total points) a) Depict...
Question 10 (4 points) Between 2013 and 2014, the economy experienced a growth rate of 1.8%...
Question 10 (4 points) Between 2013 and 2014, the economy experienced a growth rate of 1.8% in real GDP per capita. If nominal GDP had increased by 3% and the population growth rate was 1%, then the annual inflation rate would be a) 0.2% Ob) - 1.2% OC) 1.2% d) 2% Question 11 (8 points) Before Great Recession in 2008-9, unemployment rate in U.S. was 4%. At the end of 2009, unemployment rate in U.S. was 9.9 percent and labor...
Consider the following ecnomy: Total Population = 1000 Total Adult Civilian (non-institutionalized) Population = 700 Number...
Consider the following ecnomy: Total Population = 1000 Total Adult Civilian (non-institutionalized) Population = 700 Number of people employed = 200 Number of people without jobs but looking for work = 80 What is the labor force participation rate in this economy? Question 11 options: 28% 40% 70% none of the above
1) The table below lists the number of people by labor force classification for the country...
1) The table below lists the number of people by labor force classification for the country of Grenyarnia. Employed 78 million Unemployed 12 million Not in the Labor Force 30 million a.) Calculate the number in the labor force, and the unemployment rate. b.) Calculate the number in the adult population, and the labor force participation rate. c.) Suppose 8 million people who were previously employed become discouraged workers. Recalculate the unemployment rate and the labor force participation rate. d.)...
Suppose that you are given the following information Total Population Adult, noninstitutionalized, nonmilitary population Unemployed adults...
Suppose that you are given the following information Total Population Adult, noninstitutionalized, nonmilitary population Unemployed adults 300 miliion 265 million 6 million a "e labor force participation rate is 71.0%, calculate the size ofthe labor forcer lmaon b Determine the number of Employed adults million. (Enter your response rounded to one decimal place) e caculate te Unemployment rate [ % (Enter your response as a percentage rounded to two decimal places ) (Enter your response rounded to one decimai place.)...
Suppose country A has a total population of 1200. There are 200 children and 1000 adults....
Suppose country A has a total population of 1200. There are 200 children and 1000 adults. Of the 1000 adults, 850 are employed. Of the remaining 150 adults, 100 are not employed but are actively seeking work, and the remaining 50 are not employed and not actively seeking work. a. calculate and interpret the labor force participation rate. b. Calculate the unemployment rate and interpret it. Suppose of the 100 individuals who are unemployed, 20 are in the middle of...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks a) Can you calculate the employment rate given the information above? Explain. b) Calculate the unemployment rate before,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks Can you calculate the employment rate given the information above? Explain. Calculate the unemployment rate before, and after,...
QUESTION 20 In the classical model, if the real interest rate is lower than the equilibrium...
QUESTION 20 In the classical model, if the real interest rate is lower than the equilibrium interest rate in the goods market, then total demand for goods is A. higher than the total supply. B. lower than total supply. C. can be equal to total supply. D. none of the above. QUESTION 21 In the classical model, if total demand for goods is less than total supply, then real interest rate will A. fall. B. rise. C. may remain the...
Technique A B C D Labor (hours) 10 25 10 30 Capital (machines) 35 25 60...
Technique A B C D Labor (hours) 10 25 10 30 Capital (machines) 35 25 60 20 23) In the above table, the technique that is not technologically efficient is A) A. B) B. C) C. D) D. 24) The short run is a period of time in which A) the quantity used of at least one factor of production is fixed. B) the quantities used of all factors of production are fixed. C) output prices are fixed. D) factor...
6. Suppose that the long run aggregate production function can be written as Y = A*F(K, L), where Y is the value of aggregate supply of goods and services, A is a measure of the level of technological sophistication in the economy, K is the aggregate capital stock of machinery, and L represents the labor force in the economy. The production function, which relates inputs of K and L to output is represented by F(.). (15 total points) a) Depict...
Question 10 (4 points) Between 2013 and 2014, the economy experienced a growth rate of 1.8% in real GDP per capita. If nominal GDP had increased by 3% and the population growth rate was 1%, then the annual inflation rate would be a) 0.2% Ob) - 1.2% OC) 1.2% d) 2% Question 11 (8 points) Before Great Recession in 2008-9, unemployment rate in U.S. was 4%. At the end of 2009, unemployment rate in U.S. was 9.9 percent and labor...
Suppose that you are given the following information Total Population Adult, noninstitutionalized, nonmilitary population Unemployed adults 300 miliion 265 million 6 million a "e labor force participation rate is 71.0%, calculate the size ofthe labor forcer lmaon b Determine the number of Employed adults million. (Enter your response rounded to one decimal place) e caculate te Unemployment rate [ % (Enter your response as a percentage rounded to two decimal places ) (Enter your response rounded to one decimai place.)...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks a) Can you calculate the employment rate given the information above? Explain. b) Calculate the unemployment rate before,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks Can you calculate the employment rate given the information above? Explain. Calculate the unemployment rate before, and after,...
QUESTION 20 In the classical model, if the real interest rate is lower than the equilibrium interest rate in the goods market, then total demand for goods is A. higher than the total supply. B. lower than total supply. C. can be equal to total supply. D. none of the above. QUESTION 21 In the classical model, if total demand for goods is less than total supply, then real interest rate will A. fall. B. rise. C. may remain the...
Technique A B C D Labor (hours) 10 25 10 30 Capital (machines) 35 25 60 20 23) In the above table, the technique that is not technologically efficient is A) A. B) B. C) C. D) D. 24) The short run is a period of time in which A) the quantity used of at least one factor of production is fixed. B) the quantities used of all factors of production are fixed. C) output prices are fixed. D) factor...
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