What are the conceptual problems in measuring unemployment, and why is this such a key indicator of the economic well-being of our nation?
Measurement of Unemployment rate has various problems:
1) It doesn't take into consideration discouraged workers
2) It doesn't capture long run unemployment rate.
3) It doesn't differentiate between part-time and full time workers. Workers who worked for an hour are also considered as employed.
4) it doesn't take report disguised unemployment
5) It doesn't reflect the payments structure.
Unemployment rate is the rate of unemployed to the total labour force. It is an important factor for determining economic well-being because a high unemployment rate is associated with low economic activity in a country and thus implying more people are unemployed and thus poverty and inequality are high in such economy.
What are the conceptual problems in measuring unemployment, and why is this such a key indicator...
What are some of the problems with measuring the unemployment rate? What is the Establishment Survey and is it effective?
Provide four reasons why the unemployment rate may not be a very reliable indicator of the underutilization of labour
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what are some problems that arise when measuring economic inequality?
1.How is gross domestic product (GDP) defined? How is GDP per capita calculated and why is it used as a common measure of economic well-being? Despite its wide-spread use there are some problems with GDP per capita as a measure of well-being. 2.Briefly explain the components used to calculate GDP (be explicit, don't just put the letter). Fully explain one method of measuring GDP (hint: use one of the components mentioned as an example) 3.What is full employment and how...
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3. Why might the unemployment rate be considered an incomplete indicator of the health of the labor market? I. Because it does not measure how well people are matched to the jobs they do. II. Because the definition of discouraged workers is not clear III. Because it does not correctly define the adult population A) I and II only are correct B) I and III only are correct C) II and III only are correct D) I, II, and III...