Which of the following conditions might cause the unemployment rate to be less than the natural...
Which of the following conditions might cause the unemployment rate to be less than the natural rate of unemployment?
A. Demand for products is so high that firms raise their prices to take advantage of extra profits.
B. The government decreases unemployment benefits.
C. Demand for products is so high that firms keep their factories open for additional hours of production and pay their workers overtime.
D. The economy enters a recession, so firms start to produce more to help boost the economy.
E. Demand for products starts to decrease, so firms keep their factories open for additional hours of production to make up the difference.
Homework Answers
Answer
Unemployment rate can be less than the natural rate of unemployment only in one condition that is Option C demand for products is so high that firm's keep their factories open for additional hours of production and pay their workers overtime in this manner there will be less of unemployment when the prices or the demand of the product rises the employment rate will remain same and this will result in less unemployment rate than the natural one .
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Which of the following conditions might cause the unemployment
rate to be less than the natural...
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2. (20 points) How will the following changes affect the natural rate of unemployment? Identify the...
2. (20 points) How will the following changes affect the natural rate of unemployment? Identify the type of unemployment that will be affected and the direction of the change. a. The government reduce the length of time a worker may receive unemployment benefits. Frictional Unemployment would be reduced a lower the natural rate of unemployment b. More teenagers delay looking for jobs until after they complete their college education. Frictional unemployment woulld be reducedd lowered natural Rate of unemployment c....
3rd attempt Which of the following can be responsible for a drop in the unemployment rate?...
3rd attempt Which of the following can be responsible for a drop in the unemployment rate? Choose one or more: A. More people become employed. B. The labor force shrinks. C. There is an increase in the number of discouraged workers. D. More people with full-time jobs become part-time workers. 2nd attempt Which of the following can lower the level of frictional unemployment over time? Choose one or more: A. reducing the regulations on hiring practices in a country B....
Match the quadrant letter of the economy with the description/diagnosis. Beware of "incorrect" descriptions! Column A...
Match the quadrant letter of the economy with the
description/diagnosis. Beware of "incorrect" descriptions!
Column A
1.
Area "A":
2.
Area "B":
3.
Area "C":
4.
Area "D":
5.
Area "E":
Column B
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Topic: Why is unemployment so high in Europe? Briefly discuss. Optional reading: You can use any...
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1) Why is unemployment so high in Europe? Briefly discuss. Optional reading: You can use any...
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18. Which of the following policies would come from a Marxist view of the economy? (a)...
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The "headline" unemployment rate (U-3) does not include which of the following discouraged workers other marginally...
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All Required Parts Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the company's products far exceeds its manufacturing capacit...
All Required Parts
Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the company's products far exceeds its manufacturing capacity. The bottleneck (or constriant) in the production process is upholstery labor-hours. Information concerning three of Portsmouth's upholstered chairs appears below: Sofa $ 1,390 $ 1,800 $1,225 850 1,250 $ 10 hours Recliner Love Seat Selling price per unit Variable cost per unit Upholstery labor-hours per unit 850 10 hours 5 hours Required 1....
Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the...
Portsmouth Company makes upholstered furniture. Its only
variable cost is direct materials. The demand for the company's
products far exceeds its manufacturing capacity. The bottleneck (or
constraint) in the production process is upholstery labor-hours.
Information concerning three of Portsmouth's upholstered chairs
appears below:
Recliner
Sofa
Love Seat
Selling price per unit
$
1,400
$
1,800
$
1,500
Variable cost per unit
$
800
$
1,200
$
1,000
Upholstery labor-hours per unit
8 hours
10 hours
5 hours
Required:
1. Portsmouth...
Unemployment Rate = x 100 Number of employed hope Number of Plein the Laborare 10 100 x 100 10% Suppose a reduction in foreign demand for this economy's products causes an economic recession-a prolonged period of declining output. The following table offers two possible scenarios resulting from the recession Calculate the unemployment rate associated with each scenario in the following table. Assume that each scenario describes the only labor market changes in this economy. Unemployment Rate % Scenario A: Firms...
2. (20 points) How will the following changes affect the natural rate of unemployment? Identify the type of unemployment that will be affected and the direction of the change. a. The government reduce the length of time a worker may receive unemployment benefits. Frictional Unemployment would be reduced a lower the natural rate of unemployment b. More teenagers delay looking for jobs until after they complete their college education. Frictional unemployment woulld be reducedd lowered natural Rate of unemployment c....
3rd attempt Which of the following can be responsible for a drop in the unemployment rate? Choose one or more: A. More people become employed. B. The labor force shrinks. C. There is an increase in the number of discouraged workers. D. More people with full-time jobs become part-time workers. 2nd attempt Which of the following can lower the level of frictional unemployment over time? Choose one or more: A. reducing the regulations on hiring practices in a country B....
Match the quadrant letter of the economy with the
description/diagnosis. Beware of "incorrect" descriptions!
Column A
1.
Area "A":
2.
Area "B":
3.
Area "C":
4.
Area "D":
5.
Area "E":
Column B
a.This area represents low prices and lots of growth and jobs.
Unattainable but a good goal.
b.In a Keynesian perspective, the economy is in a recessionary
gap. Firms are hurting but can't smoothly lower costs. Prices are
stuck while GDP falls. Firms will go out of...
Topic: Why is unemployment so high in Europe? Briefly discuss. Optional reading: You can use any Web browser to search for the words "European unemployment." Just by scanning the headlines, see how many possible explanations you can list. Why Is Unemployment So High in Europe? Between World War II and the mid-1970s, unemployment in Western Europe was low. From 1960 to 1974, for example, the unemployment rate in France never got as high as 4 percent. The worldwide recession of...
18. Which of the following policies would come from a Marxist view of the economy? (a) government stabilization through changing spending, taxes, and interest rates since the economy will not automatically restore full employment. b) a socialist economy with government ownership of banks and businesses since economic instability is based on the exploitation of workers. (c) the need to regulate the banking system to avoid financial crisis. (d) laissez-faire or free market policies since the economy will tend towards full...
All Required Parts
Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the company's products far exceeds its manufacturing capacity. The bottleneck (or constriant) in the production process is upholstery labor-hours. Information concerning three of Portsmouth's upholstered chairs appears below: Sofa $ 1,390 $ 1,800 $1,225 850 1,250 $ 10 hours Recliner Love Seat Selling price per unit Variable cost per unit Upholstery labor-hours per unit 850 10 hours 5 hours Required 1....
Portsmouth Company makes upholstered furniture. Its only
variable cost is direct materials. The demand for the company's
products far exceeds its manufacturing capacity. The bottleneck (or
constraint) in the production process is upholstery labor-hours.
Information concerning three of Portsmouth's upholstered chairs
appears below:
Recliner
Sofa
Love Seat
Selling price per unit
$
1,400
$
1,800
$
1,500
Variable cost per unit
$
800
$
1,200
$
1,000
Upholstery labor-hours per unit
8 hours
10 hours
5 hours
Required:
1. Portsmouth...
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