If the unemployment rate is 6%, it suggests that 6% of Select one: a. the population is not working b. the labor force...
If the unemployment rate is 6%, it suggests that 6% of
Select one:
a. the population is not working
b. the labor force is not working at that time
c. people are discouraged from job search
d. the individuals who are looking for work cannot find jobs
e. of all potential workers are not working
Homework Answers
Answer
Option b
b. the labor force is not working at that time
unemployment rate is a portion of the labor force which is not working and not the portion of the total population or adult population.
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If the unemployment rate is 6%, it suggests that 6% of Select one: a. the population is not working b. the labor force...
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...
Question The labor force consists of: Question options: all adults who are able to work. all...
Question The labor force consists of: Question options: all adults who are able to work. all adults who are working, plus those not working. discouraged workers, employed workers, plus those actively seeking work. all adults who are working or actively seeking work. Question The unemployment rate may underestimate the true extent of unemployment if: Question options: there are a large number of people working in the underground economy. employees increase the number of hours they work overtime. many people become...
3. The table below shows unemployment and labor force statistics for an economy.
3. The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million e. Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?
macroeconomic Macroeconomics HW 6 Unemployment 1. How would you classify the labor-force status (employed, unemployed, not...
macroeconomic
Macroeconomics HW 6 Unemployment 1. How would you classify the labor-force status (employed, unemployed, not in LF) of the following? a. A bank manager who is currently not working because she took a year off to take care of a newborn child. b. A 14 year old who works 10 hours per week at Six Flags. c. A 16-year-old who is doing 20 hours per week of unpaid work in his father's business. d. An auto worker whose union...
21. Insofar as government public policy is concerned, the best way to battle unemployment would be...
21. Insofar as government public policy is concerned, the best way to battle unemployment would be A. to minimize the severity of recessions B. to maximize unemployment payments C. to maximize unemployment insurance duration D. to minimize labor unions 22. The labor force consists of A. discouraged workers, employed workers, plus those actively seeking work. B. all adults who are working or actively seeking work. C. all adults who are able to work D. all adults who are working, plus...
Consider the graph of the labor market shown here. At the wage rate of $15, the...
Consider the graph of the labor market shown here. At the wage rate of $15, the number of unemployed people in this market is: Wage Labor supply $15 $14 $13 Labor demand 20 22 24 Quantity of labor in thousands) zero. 2,000 O 22,000. 4.000. After a financial crisis hits the country of Barbaria, 3 million people become unemployed. If 55 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to...
Using the official measure of unemployment, which of the following people is considered unemployed? Select one:...
Using the official measure of unemployment, which of the following people is considered unemployed? Select one: a. a part-time worker who wishes to work full time b. a person who gave up looking for jobs because he or she was discouraged about his or her job prospects c. a person who is working but expects to be laid off at the end of the month d. a person who has been searching for work, but turns down a job paying...
Which of the following is a shortcoming of the unemployment rate? Choose one or more: A....
Which of the following is a shortcoming of the unemployment
rate?
Choose one or more:
A. There are too few observations collected monthly. The
small sample size causes inaccurate measurements.
B. Temporary workers are not counted as
employed.
C. If someone is working at a lower-paying job but is
qualified for a higher-paying job, he/she is counted as
unemployed.
D. The unemployment rate does not include discouraged
workers.
Which of the following can lower the level of frictional
unemployment over...
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....
4) Fill in the missing values. Labor Force Employed 146028 146057 146320 Unemployed 7116 6927 Unemployment...
4) Fill in the missing values. Labor Force Employed 146028 146057 146320 Unemployed 7116 6927 Unemployment Rate 4.6 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918 154063 4.4 4.5 4.4 4,6 4.7 4.6 4.7 4.7 Time Period Jan2007 Feb2007 Mar2007 Apr 2007 May 2007 Jun 2007 Jul2007 Aug2007 Sep 2007 Oct2007 Nov 2007 Dec 2007 Jan2008 Feb2008 Mar2008 Apr2008 May 2008 Jun 2008 Jul2008 Aug2008 Sep 2008 Oct2008 Nov2008 Dec 2008 4.7 6850 6766 6979 7149 7067...
macroeconomic
Macroeconomics HW 6 Unemployment 1. How would you classify the labor-force status (employed, unemployed, not in LF) of the following? a. A bank manager who is currently not working because she took a year off to take care of a newborn child. b. A 14 year old who works 10 hours per week at Six Flags. c. A 16-year-old who is doing 20 hours per week of unpaid work in his father's business. d. An auto worker whose union...
21. Insofar as government public policy is concerned, the best way to battle unemployment would be A. to minimize the severity of recessions B. to maximize unemployment payments C. to maximize unemployment insurance duration D. to minimize labor unions 22. The labor force consists of A. discouraged workers, employed workers, plus those actively seeking work. B. all adults who are working or actively seeking work. C. all adults who are able to work D. all adults who are working, plus...
Consider the graph of the labor market shown here. At the wage rate of $15, the number of unemployed people in this market is: Wage Labor supply $15 $14 $13 Labor demand 20 22 24 Quantity of labor in thousands) zero. 2,000 O 22,000. 4.000. After a financial crisis hits the country of Barbaria, 3 million people become unemployed. If 55 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to...
Using the official measure of unemployment, which of the following people is considered unemployed? Select one: a. a part-time worker who wishes to work full time b. a person who gave up looking for jobs because he or she was discouraged about his or her job prospects c. a person who is working but expects to be laid off at the end of the month d. a person who has been searching for work, but turns down a job paying...
Which of the following is a shortcoming of the unemployment
rate?
Choose one or more:
A. There are too few observations collected monthly. The
small sample size causes inaccurate measurements.
B. Temporary workers are not counted as
employed.
C. If someone is working at a lower-paying job but is
qualified for a higher-paying job, he/she is counted as
unemployed.
D. The unemployment rate does not include discouraged
workers.
Which of the following can lower the level of frictional
unemployment over...
4) Fill in the missing values. Labor Force Employed 146028 146057 146320 Unemployed 7116 6927 Unemployment Rate 4.6 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918 154063 4.4 4.5 4.4 4,6 4.7 4.6 4.7 4.7 Time Period Jan2007 Feb2007 Mar2007 Apr 2007 May 2007 Jun 2007 Jul2007 Aug2007 Sep 2007 Oct2007 Nov 2007 Dec 2007 Jan2008 Feb2008 Mar2008 Apr2008 May 2008 Jun 2008 Jul2008 Aug2008 Sep 2008 Oct2008 Nov2008 Dec 2008 4.7 6850 6766 6979 7149 7067...
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