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- AsapWhich of the following statements is incorrect? a. A decrease in the labor participation can make the unemployment rate decline. b. When the BLS puts out Employment Situation report each month, it also provides the results about employment, hours worked, and employee earnings from Establishment Survey. c. Every month, the BLS computes the unemployment rate based on a survey of about 60,000 households (Current Population Survey). d. The broadest measure of labor underutilization, known as u6, is the sum of total unemployed, marginally attached workers, and part time workers for economic reasons as a percent of the civilian labor force. e. None of the above are incorrect.1). Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are “not in the labor force?” What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages. 2). If many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time. 3).If you are out of school but working part-time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greeter at Wal-Mart are you considered employed or not in the labor force?
- “The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemiclevels of 7.2 per cent in January 2020. However, the reason behind the dip in unemployment is not theaddition of jobs — rather, it was caused by the decline in the number of people looking for jobs. The numberof unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently,they were no longer counted as unemployed.”Source: https://www.indiatoday.in/diu/story/unemployment-rate-down-jobs-creation-job-seekers-1915703-2022-02-21Accessed: 21/02/22 1. The unemployment figure presented here is the… a) Seasonal unemployment.b) Narrow definition.c) Expanded definition.d) Real unemployment. 2. Demand-pull inflation can occur when…a) There is a shortage of investment and investors bid up interest rates.b) Inventories shrink and consumers bid up prices.c) There is a surplus of resources and so wages are bid up by employers.d) Undesired investment occurs. 3.…No Plagirism Please! 15. Formulate reasons as to why a recession might occur. Then, hypothesize how total economic output and prices will behave in the years following the recession. 16. Explain the three main types of unemployment experienced within an economy. Provide at least one example demonstrating each type of unemploymentA country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally unemployed; I. What is the size of the labour force? ii What is the actual unemployment rate? iii what is the labour force participation rate? iv. What is the employment/population ratio? v. What is the natural rate of unemployment? vi. Is this economy in recession or a boom? Explain
- What causes shifts in the welfare of the unemployed in the one-sided search model? (Select all that apply.) A. The real wage associated with a particular job B. The frequency in which an unemployed worker receives job offers C. The size of the El benefit D. The future expected cost of living for the unemployed E. The separation rate16) If the Local employment sector of manufacturing is 40,125 and total local total employment is 320,147 and national employment in that sector is 1,142,228, with total national employment at 13,425,000 what is the location quotient? 17) The location quotient must be than one a. Less than b. Equal to c. Greater d. None of the above 18) Based on question 16, what percentage of the local manufacturing are basic employees? 19) What is the EBM, if total basic employment is 128,500 and total employment is 350.000? 20) What does the EBM indicate in question 19? 21) Based on question 19, If the population is 798,112, what is the PER. 22) What does Does the PER indicate?11) Explain what is meant by ‘involuntary unemployment’ and how economists from different schools of thought might address it?
- 2.If, in the formal work sector, the unemployment rate is 20%, and the wage is $10/hour, what is the expected wage facing potential migrants before arriving? Answer using just the number (not $/hr).Question 4 2. The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilianpopulation who were not in the labor force? Also, with examples examine thecauses of structural unemployment in Australia.Unemploymenta) Find the missing values. Country Adult Population Employed Adults Unemployed Adults Labor Force Labor Force Participation Rate Unemployment Rate A 600 mln 350 mln 25 mln B 180 mln 20 mln 67% C 40 mln 65% 23% D 5 mln 3 mln 14% b) Adult population of country E is 1 million people. In country E, 35% of adult population hasa cat, while everyone else doesn’t. Of all adults with cats, only 10% are not in the labor force.Of all adults without cats, 50% are not in the labor force. Unemployment rate among peoplewith cats is 20%. Unemployment rate among people without cats is 5%. Calculate the valueslisted below and provide formulas for your calculations.• Labor force participation rate in country E.• Unemployment rate in country E.• Number of employed adults with cats.• Number of employed adults without cats. Compare the number of employed adults with cats and without cats. Why are these twonumbers relatively close to each other, while the…