As recessions begin, income   a and unemployment both fall. b rises and unemployment falls. c falls and unemployment rises. d and unemployment both rise.

Explain what the implications of moving towards a ‘gig economy’, where fewer people work full-time jobs, will have on the unemployment rate and on the output of the economy.

8. The attached charts (Quits: Total Nonfarm) shows the quit rate (the number of who quit their job during the entire month as a percentage of total employment) and the unemployment rate (U-3). (a) All else constant, what effect does an increase in the quit rate have on the unemployment rate? (b) Do you consider job quits as frictional or structural unemployment? Why? (c) What happens to the quit rate during the recession of 2008? Why? Do we see the same effect in the recession of 2020? (d) What happened to the unemployment rate during the recessions of 2008 and 2020? How do you reconcile this answer with your answers for items (a) and (c)? (e) Use your answers to explain why the unemployment rate will never fall to zero and a certain amount of unemployment is desirable.

Problem #1: Suppose the following data describe a nation's population: Year 1 Year 2 Population 320 million | 230 million Labor Force 150 million 160 million Unemployed | 6.5 million 6.9 million a. What is the unemployment rate each year? b. Has the economy experienced an increase or decrease in The number of unemployed persons? i. ii. The unemployment rate?

8. Using the following data, total population 900 million, population under 16 years of age or institutionalized 110 million, not in the labor force 125 million, unemployed but actively seeking a job 20 million, part-time workers looking for full-time jobs 10 million, calculate the official unemployment rate %

1. Individuals with less than a high school diploma a. Have lower unemployment rates and higher earnings than those with a college degree. b. Have higher unemployment rates and higher earnings than those with a college degree. c. Have lower unemployment rates and lower earnings than those with a college degree. d. Have higher unemployment rates and lower earnings than those with a college degree.

If economic growth occurs with demand increasing faster than supply, then  Select one: a. Price level will decrease b. Price level will not change  c. Price level will rise  d. nominal wage  will fall

8. T/F/U. The unemployment rate given that the number of employed workers is 180.5 million the number of non-working citizens is 76.856 million and the number of individuals no longer working and looking for a job is 70.8 million

4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of cotton rises substantially. The demand for labor among cotton-producing firms in Texas will The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. O Improving a widely used job-search website so that it matches workers to job vacancies more effectively O Taxing the price of placing a resume or posting a job opening on a job-search website O Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the government