Explain what effect an increase in the unemployment rate will have on the real wage based on: (1) the WS relation; and (2) the PS relation.

The economy's MPN is given by MPN = 110 - N0.5, where N is the level of employment. Labour supply is equal to NS = 100w², where w is the real wage. How much is the unemployment rate? 0% 8.25% 6.6% 10%

Use the attached table below to answer the following question: Calculate the unemployment rate at the end of May 2018

During this pandemic-recession, it is likely that many people (particularly females with children) who are officially counted as not in labor force actually should be counted as  a) unemployed b) employed

If next year’s aggregate price level is $4, what must their wage be next year so that the workers have a real wage that is 50% greater?

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 people discouraged workers 2 million Would the number of people employed part-time be included in labour force or not? 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. Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?

Using the WS and PS relations, graphically illustrate and explain the effects of an increase in the minimum wage on the equilibrium real wage and the natural rate of unemployment.Also explain what types of policies could be implemented to bring the natural rate of unemployment to the initial level.

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