Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate (Percent) U-4 Measure of Labor Underutilization (Percent)

The following are types of unemployment except:        Frictional Unemployment     Seasonal Unemployment           Cyclical Unemployment     Structural Unemployment     Supply-deficient unemployment

Classify each of the below individuals as employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A 14-year old who babysits on the weekend:  employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An active-duty soldier who volunteers without pay in the community:  employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A parent who has stopped looking for jobs in order to take care of the children:  employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A student who has begun applying for jobs but has not yet found one:  employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An actor who works part-time at a restaurant but is looking for full-time work:  employed, unemployed, not in the labor force, or not in…

Examine the following expression and analyze it:One of the benefits of unemployment is that it enables a higher quality job search and promotes economic efficiency, but increases the unemployment rate and creates economic recession.

Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer.   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 discouraged workers 2 million (c) 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. (d) Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Show your work.

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.

What is the current unemployment rate and the labor force participation rate?

In which of the following cases will we observe unemployment? the quantity of labor demanded is greater than the quantity of labor supplied at the going wage rate. the wage is below the level that balances supply and demand for labor. there is a shortage of workers. the quantity of labor demanded is less than the quantity of labor supplied at the going wage rate.

Explain the difference between the natural rate of unemployment and the actual rate of unemployment as reported by the US Department of Labor.

The Australian Bureau of Statistics(ABS) reported in May2017 that the civilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed. What will be Australia’s labor force and the number of people in the civilian population who were not in the labor force? Also, with examples examine the causes of structural unemployment in Australia. Thanks