Microeconomics A Contemporary Intro
10th Edition
ISBN: 9781285635101
Author: MCEACHERN
Publisher: Cengage
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The table gives information reported by the Bureau of Labor Statistics for April,
2016.
What is the unemployment rate? What is the labor force participation rate?
1- The unemployment rate is ….percent.
2- The labor force participation rate is ……percent.
1.Which of the two counties currently has a higher unemployment rate? How much higher is it than the other?
2.Has that county always had a higher unemployment rate (during the entire length of the FRED data)? If not, when was the last time the other county had a higher unemployment rate?
3. Is there any other takeaway or conclusion you notice by comparing the two graphs?
This question explores the calculation of the unemployment rate. You will be
provided some imperfect employment data for four different countries and asked to
identify the unemployment rate.
Task 1: The population of Asartaland is 95. Of these 95 individuals, 75 are in the
labor force and 65 are employed. What is the unemployment rate in Asartaland?
Task 2: The population of Millsville is 130. Of these 130 individuals, 90 are in the
labor force and 20 are unemployed. What is the unemployment rate in Millsville?
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- Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?arrow_forwardThe U.S. unemployment rate increased from 4.6 in July 2001 to 5.9 by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? My?arrow_forwardWould you expect the natural rate of unemployment to be roughly the same in different countries?arrow_forward
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