In detail, explain what is going on in this graph for civilian unemployement rate Civilian Unemployment RateFRED - Unemployment Rate10Percent98732Whi195019501955Shaded areas indicate U.S. recessions.1960196519701975198019851990Source: U.S. Bureau of Labor Statistics19952000200520102015fred.stlouisfed.org2020C

This problem focuses on interpreting the graph, analyzing the trends in the civilian unemployment…

Answered: explain what is going on in this graph…

Business

Economics

explain what is going on in this graph for civilian unemployement rate

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 18RQ: Are U.S. unemployment rates distributed evenly across the population?

See similar textbooks

Related questions

Q: Suppose Mimi demands 12 pieces of sushi when she earns $3,000 a month. When she gets a raise, she…

A: Consumers face a trade-off when making choices because of limited income and a multitude of possible…

Q: Which of the following market prices would cause the firm's profit-maximizing output level to be…

A: A perfectly competitive market is a market with lots of buyers and sellers all selling the same…

Q: Suppose that a monopolist has a patent for widgets and the demand curve is given by Q(P) = 12 –…

A: Monopoly is a form of imperfect competition. There is one firm. The number of consumers is high.…

Q: Consider a firm that has one factory, but can sell its product in two observably different markets,…

A: “Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: What is the present value of $6,000 to be received 15 years from now if the interest rate is 15…

A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: Discuss the following statement and explain why you agree with it or not: A…

A: The statement suggests that a profit-maximizing monopolist will not produce on the inelastic part of…

Q: The recent COVID-19 pandemic has underscored the importance of the interaction between monetaryn and…

A: Monetary policy is normally constrained by a country's central bank. It includes the guideline of…

Q: Consider a total cost structure of TC = 60 + 5Q² and a marginal cost structure of MC = 10Q. What is…

A: The total cost is given as The marginal cost is given asThe market price is given as $470

Q: IC OM B D Life/years X Z V X $320,000 $45,000 $110,000 $20,000 10 W Y $540,000 $35,000 $150,000…

A: Benefit/Cost Ratio. Measure computed by dividing the incremental monetized benefits associated to a…

Q: IS-LM model

A: The open-economic system IS-LM (Investment-Saving, Liquidity Preference-Money Supply) version…

Q: Imagine there is a tax on cigarettes and that consumers and producers each bear some portion of the…

A: Tax incidence or tax burden reflects who bears the relative burden of a new or existing tax that is…

Q: Why is mobile marketing different from desktop marketing?

A: The provided question's answer includes the standpoint of economic theories and thus, it is answered…

Q: The "man-in-the-middle" exploit is most closely related to which of the ollowing aspects of computer…

A: The man-in-the-middle exploit is most closely related to the aspect of computer security:3.…

Q: 1. W MRP; W> MRC Refer to the list. The outcome in a purely competitive labor market is shown by A)…

A: A homogeneous product that has a large number of sellers and buyers is known as a competitive…

Q: The following production possibilities schedule shows the quantities of buckwheat and corn that can…

A: The potential gains that an individual or a country misses out on when choosing one option over…

Q: Which choice best describes the value of r²? You may need the following formulas: SST = Ei=1(Yi y)²,…

A: Ȳ[Ȳ=(−2.50)+(−0.75)+1.30+(−1.55)+1.255=−0.05]

Q: David Card's study on the so-called "Mariel Boatlift" found supporting evidence for the... Medium…

A: Equilibrium refers to a state of balance or stability in a system where opposing forces or factors…

Q: Allison is debating about hiring Jim for a new position at her firm producing computer software. She…

A: Wage Negotiation: A Balancing ActWage negotiation is a process by which an employer and employee…

Q: Question 6 Who pays for government subsidies? Everyone else The wealthy Big business The poor pay…

A: Government subsidy is one of the major tools of fiscal policy. It is a kind of incentive provided by…

Q: 1. Write a short case that must cover 3 different risk types and 3 different loss types.

A: Note: As per the guidelines in case of multiple types of questions, only do the first one. If you…

Q: Figure 8.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At…

A: Average total cost = 90Average variable cost = 30

Q: If a perfect competitor was earning an economic profit in the short run, would this situation…

A: Perfect competitive market:In this market, there are large numbers of buyers and sellers. They sell…

Q: Suppose that the demand and supply curves for good X are: QD = 75 − 1.25P and QS = −60 + 2.50P A:…

A: The continual interaction between client preferences and product availability influences market…

Q: You have been using Drug A as a standard of care for chemotherapy and now Drug B, a new chemo drug,…

A: QALY, or quality-adjusted life year is a tool used for measuring the value of health outcomes. It…

Q: Now suppose that stock market grows sharply. Finally, suppose that there are no policy interventions…

A: Gross domestic product is the final combination of goods and services in a country. GDP is an…

Q: The payoff matrix represents hypothetical profits (in thousands of dollars) that could be earned by…

A: The Nash equilibrium is the best course of action, provided the strategy of rival firm has been…

Q: The current yearly tuition fee for your university is $240,000. If you parents made a lumpsum…

Q: ne formula for the government spending multiplier is A) 1/(1+ MPC). B) 1/MPS. C) 1/MPC.

A: Marginal propensity to consume (MPC) measures the change in consumption spending due to a change in…

Q: Refer to the diagram to the right which shows various points on three different production…

A: PPF(Production Possibility Frontier) shows different levels of combination of two goods (here, food…

Q: The cost curves below are for a firm competing in a perfectly competitive industry. If the market…

A: A perfectly competitive market structure is one in which there are large no of buyers and sellers.…

Q: Consider a data set with 15 observations and consider a multiple linear regression model with 7…

A: We have the following information:Sum of squares total (SST) = 1325Sum of squares regression (SSR) =…

Q: Consider the following diagram, in which the current short-run equilibrium is at point A. At point…

A: The gross domestic product level that the economy is likely to achieve with the given resources is…

Q: Figure 15-7 Price $20 15 10 O 100 150 200 Marginal Cost Demand Quantity Marginal Revenue Refer to…

A: A monopoly market has only a single seller. The market price is determined by the seller, and the…

Q: The graph below characterizes the cost structure for a firm in a perfectly competitive market.…

A: In economics, a competitive market is a market structure characterized by a large number of buyers…

Q: Assuming that the Bank of Canada determines that inflation is the most significant problem in the…

A: Inflation refers to the sustained increase in the general price level of goods and services in an…

Q: Using the information below compute the M2 money supply. Category Currency and coin held by the…

A: M2 money supply describes the measure of money which includes cash, checking deposits, savings…

Q: Suppose that a firm has production function F(L, K) = L2/3 K1/3 for producing widgets, the wage rate…

A: The production function is a concept in economics that describes the relationship between inputs…

Q: The city is contemplating making street improvements on a street with only two residents. The…

A: The evaluation of a project's efficiency involves weighing the added benefits against the extra…

Q: One of the undesirable effects of contractionary monetary policy is A) Higher unemployment. B)…

A: The correct answer is:A) Higher unemployment.Here's why:Higher unemployment: One of the main goals…

Q: If the on-campus demand for soda is as follows: Price (per can) Quantity demanded (per day) $3.00 30…

A: A perfectly competitive firm produces at P = MC to maximize profit. A monopoly firm produces at MR =…

Q: Approximately how many manufacturing jobs are expected to be created in the USA in 2023 Oa Under…

A: The most prominent sources suggest the following:Current Employment Statistics (CES) by the Bureau…

Q: A telecommunications firm is considering a product expansion of a popular cell phone. Two…

A: Annual Worth Analysis is a method that converts all cash inflows and outflows into equivalent,…

Q: The accompanying table gives cost data for a firm that is selling in a purely competitive market.…

A: Marginal cost:Marginal cost is the additional unit that is added to the total cost. It is…

Q: Which of these graphs depicts the effects of an abundant (larger than normal) harvest of west Texas…

A: Aggregate supply increases when the producer decides to increase its productivity level. If a…

Q: Suppose that Hungary and Norway both produce sunflowers and wheat. Hungary's opportunity cost of…

A: Comparative advantage is a basic notion in the theory of international trade that emphasizes the…

Q: WAGE (Dollars per hour) 175 150 12.5 10.0 75 5.0 25 0 0 Supply Demand 125 250 375 500 625 750 875…

A: Price floor is a price control measure regulated by the government. It is the maximum lowest legal…

Q: Explain how the outcome of the Cournot model is achieved.

A: The Cournot model is an economic model used to analyze competition between firms that produce…

Q: 16. If asked about the basic functioning of the economy, a classical economist would claim that a.…

A: The correct answer is:b. The market naturally tends toward stability and full employment.Classical…

Q: QUESTION 8 If your total profit is 8000 dirhams and your total revenue is 10000 dirhams. How much is…

A: Costs refers to the expenses that incur in the process of production of goods or services. There are…

Q: A firm has the production function F(L, K) = L^1/2 + K^1/2 The price of labor is $10 and the price…

A: In order to maximize profits, firms must minimize costs. Cost minimization simply implies that firms…

Question

In detail, explain what is going on in this graph for civilian unemployement rate

Civilian Unemployment Rate
FRED - Unemployment Rate
10
Percent
9
8
7
3
2
Whi
1950
1950
1955
Shaded areas indicate U.S. recessions.
1960
1965
1970
1975
1980
1985
1990
Source: U.S. Bureau of Labor Statistics
1995
2000
2005
2010
2015
fred.stlouisfed.org
2020
C

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introducing civilian unemployment rate

VIEW

Step 2: Explaining further

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

If you an? 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 greater at Wal-Mart are you considered employed or not in the labor force?
What is frictional unemployment? Give examples of frictional unemployment.
Are U.S. unemployment rates distributed evenly across the population?
Do you think perfect indexing is possible? Why or why not?
Question 4Monthly Unemployment 2014 – 2015Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2014 6.6 6.7 6.7 6.2 6.2 6.1 6.2 6.2 6.0 5.7 5.8 5.62015 5.7 5.5 5.5 5.4 5.5 5.3 5.3 5.1 5.1 5.0 5.0 5.0Monthly Inflation Rate 2014 – 2015Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2014 1.6 1.6 1.7 1.8 2.0 1.9 1.9 1.7 1.7 1.8 1.7 1.62015 1.6 1.7 1.8 1.8 1.7 1.8 1.8 1.8 1.9 1.9 2.0 2.1Examine the monthly data on the unemployment rate and the inflation rate for 2014-2015i) What trends do you observe in the unemployment rate? In the inflation rate?ii) Identify the relationship between Inflation and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice.iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between…
Create a table with the National Unemployment rates from February 2020 through October 2020. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 3.5 3.5 4.4 14.7 13.2 11.0 10.2 8.4 7.9 6.9 6.7 6.7 What trend(s) do you observe? Next, review the employment situation summaries from March 2020 and October 2020.
UNEMPLOYMENT RATE, 2019 (percent) 40 36 32 28 24 20 16 12 4 27 Adult males 5.4 White Black 3.8 Hispanic b. were employed? Adult females 4.7 2.8 White Black 47 Hispanic 11.5 White Teenagers 20.7 Black 14.5 Hispanic 3.7 National average Instructions: Enter your responses as a whole number. In 2019, how many of the 14,000,000 adult Hispanic males who participated in the labor market a. were unemployed? c. would have been employed if they had the same unemployment rate as adult white males?
This is a graph of 3 measures of unemployment from the period just before the great recession to just before the covid 19 recession The red line, is the unemployment rate including discourage workers and workers marginally attached to the labor force. The Blue line is the unemployment rate as measured by the BLS The Green line is the Natural rate of unemployment, the target rate, the NAIRU. The gray bar represents the recession of 2008, and the subsequent recovery of the economy afterwards. This was evidenced by a gradual increase in GDP. Is the pattern of all 3 series what you would expect in terms of the behavior of all 3. Provide reasons for your answers.Your answer should include reference to AD/AS or the AE model.
The table below represents the monthly unemployment rates in the US from January of 2005 through May of 2016. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 5.3% 5.4% 5.2% 5.2% 5.1% 5.0% 5.0% 4.9% 5.0% 5.0% 5.0% 4.9% 2006 4.7% 4.8% 4.7% 4.7% 4.6% 4.6% 4.7% 4.7% 4.5% 4.4% 4.5% 4.4% 2007 4.6% 4.5% 4.4% 4.5% 4.4% 4.6% 4.7% 4.6% 4.7% 4.7% 4.7% 5.0% 2008 5.0% 4.9% 5.1% 5.0% 5.4% 5.6% 5.8% 6.1% 6.1% 6.5% 6.8% 7.3% 2009 7.8% 8.3% 8.7% 9.0% 9.4% 9.5% 9.5% 9.6% 9.8% 10.0% 9.9% 9.9% 2010 9.7% 9.8% 9.9% 9.9% 9.6% 9.4% 9.5% 9.5% 9.5% 9.5% 9.8% 9.4% 2011 9.1% 9.0% 9.0% 9.1% 9.0% 9.1% 9.0% 9.0% 9.0% 8.8% 8.6% 8.5% 2012 8.2% 8.3% 8.2% 8.2% 8.2% 8.2% 8.2% 8.1% 7.8% 7.8% 7.8% 7.9% 2013 7.9% 7.7% 7.5% 7.5% 7.5% 7.5% 7.3% 7.2%…
4G1 11:23 BO Bully Just now Suppose some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, number of employed 14.1 million people. What is the unemployment rate?
Ellen is downloading labor market data for the most recent month, but her connection isslow. So far thisß is all she has been able to collect:Unemployment rate 5.2%Participation rate 62.5%Not in the labor force 60 millionFind the● working-age population● the labor force● the number of employed workers● The number of unemployed workers.
Macroeconomics For a country in a given year, it applies that (the figures are given in thousands) The population of working age (15-74 years) 21 540 The labor force 15 510 Eemployed 13 959 What is the relative unemployment rate. Give the answer in percent rounded to one decimal.