Consider an economy that initially has a labor force of 2,000 workers. Of these workers, 1,900 are employed. The economy enters a recession. The number of employed workers falls by 4%. In addition, 0.2% of the labor force becomes discouraged at the prospect of finding a job and leaves the labor force. Show your calculation for the following. a. How many workers are unemployed before the recession? What is the unemployment rate before the recession? b. After the recession begins, what is the size of the labor force? How many workers are employed? How many workers are unemployed? What is the unemployment rate? c. Suppose that total output falls by 8% in the recession, what is the value of the Okun's law coefficient relating the loss of output to the increase in unemployment?

Consider an economy with 50 people unemployed and 900 employed. Its finding rate is 70% and its separation rate is 10%. What is the current unemployment rate? 50. How many people loose/leave a job in period 1? 51. 52. How many people find a job in period 1? 53. 54. What is the natural rate of unemployment? 55. 56. 57. Is this economy currently in an expansion or recession? How do you know? 58. 59.

Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.

Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.

In August of 2020, the United States unemployment rate was 8.4%; in September, it was 7.8%.  Which of the following is true? There is a 7.7% decrease in the United States unemployment rate from August to September, 2020. There is a 0.077 percentage point decrease in the United States unemployment rate from August to September, 2020. There was a 0.071 percentage point decrease in the United States unemployment rate from August to September, 2020. There was a 0.6% decrease in the United States unemployment rate from August to September, 2020. There was a 7.1% decrease in the United States unemployment rate from August to September, 2020.

Recovery won't Improve unemployment Despite some optimism about the seeds of recovery, the Congressional Budget Office (CBO) sees joblessness rising. The CBP sees unemployment peaking at 10.4% next year from an average of 9.3% this year, before it falls to 9.1% in 2011. Source: Fortune, August 25, 2009 Why does unemployment continue to rise as an expansion begins? OA. The unemployment rate is a leading indicator of the business cycle, so unemployment continues to rise as an expansion begins. OB. In the early stages of an expansion, the labor force decreases. OC. In the early stages of an expansion, unemployment increases as firms lay off workers in an attempt to cut costs. D. As an expansion begins, previously marginally attached workers look for jobs, exceeding the number of people hired.

This graph shows the short-run aggregate supply curve (SRAS) of a hypothetical economy where the currency is the dollar. Last year, the economy was producing at point A. The price level was 135 and the quantity of real GDP supplied was $300 billion. This year, the economy is producing at point B. The price level has risen to 145 and the quantity of real GDP supplied has risen to $500 billion and nominal wages rose by the same percentage as the price level. Government officials are confused about why the quantity of output moved from point A to point B, and they ask you for help. PRICE LEVEL 160 155 150 145 140 135 130 125 120 0 100 Short-Run Aggregate Supply A + B + 200 300 400 500 REAL GDP (Billions of dollars) 600 700 SRAS 800 ?

Ellen is downloading labor market data for the most recent month, but her connection is slow.  So far this is all she has been able to collect: Unemployment rate     6%     Participation rate      62.5%    Not in the labor force   63.5 million Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses rounded to one decimal place.Labor force:       millionWorking-age population:      millionNumber of employed workers:        millionNumber of unemployed workers:        million

If the labor force of 160 million people is growing by 1.2 percent this year, how many new jobs have to be created each month to keep unemployment from increasing?

a ) Marie recently graduated from college with a degree in electrical engineering, but she has not yet started working. When will she be counted as “unemployed” according to the BLS? b) Eric was laid off, but he is expecting to be recalled. He has not looked for work since being laid off. Natalie is not employed, nor was she laid off. Who is counted as “unemployed” in the U.S. labor force statistics? c) What are the four different types of unemployment? Explain each.