Suppose you are able-bodied and intelligent, but lazy. You'd rather sit at home and watch television than work, even though you know you could find an acceptable job if you looked. a. Are you officially unemployed? b. Are you a discouraged worker?

Suppose you are able-bodied and intelligent, but lazy. You'd rather sit at home and watch television than work, even though you know you could find an acceptable job if you looked. a. Are you officially unemployed? b. Are you a discouraged worker?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 9QP

See similar textbooks

Related questions

Q: 1- List the conditions that should be applied in order to consider any person as unemployed.

A: The U.S. Agency of Labor Statistics or BLS gathers information on the employment status of the…

Q: How unemployment affect the GDP of the economy

A: In an economy, a market has various determinants that are interrelated to each other and together…

Q: To be classified as unemployed, a person must be at least 16 years old and trying to find a job…

A: By definition, an unemployed is classified as a person currently available for work and actively…

Q: Is a decrease in the unemployment rate necessarily a good thing for a nation? Explain.

A: The unemployment rate is that fraction of labour force which is unemployed. The given unemployment…

Q: A person who has been fired is not considered unemployed? True or False

A: A person is said to be unemployed when he is able to work and is willing to work but not getting…

Q: Why is the unemployment rate sometimes high and sometimes low?

A: Unemployment happens once folks area unit while not work whereas actively looking for employment.…

Q: What was the February 2022 US unemployment rate?

A: The official unemployment rate in the US is announced by the U.S. Bureau of Labor Statistics.

Q: Why is deflation bad for the economy? Does not deflation make us better off because things are…

A: Deflation is described as a long-term decrease in the prices of all products and services produced…

Q: What is the difference between being unemployed and being out of the labor force?

A: The total labor force in an economy consists of all those people who are employed as well as…

Q: Suppose the following data describe a nation's population: Year 1 Year 2 Population 500 million 520…

A: The labor force includes all the individuals above a particular who are either employed or…

Q: What are the three major types of unemployment?

A: Meaning of Full Employment: The term full employment refers to the situation under which all the…

Q: Explain how an increase in the unemployment rate would impact how businesses will operate. Analyze…

A: Unemployment indicates that a market is not actively utilizing labour supply. The market would not…

Q: What are the two conditions that have to be met to be considered as unemployed? a. The person is…

A: A term which refers to those individuals who are currently unemployed and are in search of job but…

Q: How many fewer workers would have been unemployed? how many more would have been employed?

A: Given that Total labour force in 2016 = 159.2 Million Unemployment rate = 4.9%

Q: A nation has a population of 260 million people. Of these, 60 million are retired, in the military,…

A: Given:- Total population=260 million People retire/under 16 years=60 million Employed=188 million…

Q: How many people are unemployed if the employment ratio is 75%, there are 90 million people employed,…

A: As given data Employment ratio = 75% Employed person = 90 million 20 million not in labor force.

Q: The term “unemployed” includes all people who want a job, but don’t have one.

A: The term Unemployed define as when a person wants to do work or willingness to do work but he unable…

Q: Q.39 If the number of employed workers in a country increases while its population does not change,…

A: Unemployment rate is calculated as the ratio of unemployed people to the sum of both employed and…

Q: Which of the following people would be considered frictionally unemployed? Select an answer and…

A: Which of the following people would be considered frictionally unemployed? A person laid off from…

Q: Unemployment rates increase.

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is happening to unemployment in the US economy?

A: The worker who wants to work but still does not fund employment opportunities is known as an…

Q: The unemployed are those people who do not have jobs. are not employed but are seeking work are not…

A: (Q1)The unemployed are those people who a. do not have jobs. b. are not employed but are seeking…

Q: How does the most recent unemployment rate relate to the long-run average?

A: The individual who is capable of working and is willing to work searching for job but is unable to…

Q: Which of the following people are counted as unemployed? a)A person out of work and actively…

A: Unemployment refers to people who do not have a job, actively seeking a job and available to take a…

Q: In an economy with 200 million people, 140 million hold civilian jobs and 9 million are not working…

A: Unemployment is a time period relating to individuals who are employable and actively searching for…

Q: Question 11 (* Which one of the following people would be counted as unemployed in Canada? Kanhaya…

A: Unemployment refers to all those people who are actively looking for work at the present wage rate.…

Q: On average, it takes 3 months for an unemployed person to find a job. A job lasts for 30 months on…

A: An individual is considered unemployed if that individual is not employed and he is constantly…

Q: Fill in the blanks using the number that corresponds to the correct word or phrase below 1. Labor…

A: The measure that depicts people who are capable and able to work but not able to find a suitable job…

Q: Using the definition of the unemployment rate, is an increase in the unemployment rate necessarily a…

A: If the number of people unemployed is higher than the number of people willing to accept jobs, the…

Q: is unemployment a serious problem of the economy?

A: Unemployment : Unemployment occurs when a person who is actively searching for employment is unable…

Q: Who are involuntary unemployed? A) Individuals who are willing to work at the market wage but they…

A: Unemployment, the state of one who is equipped for working, effectively looking for work, however…

Q: Explain the strategy to manage with unemployment while looking for a new job

A: The economies around the globe tend to have different types entities who all work with the motive of…

Q: real GDP grows by 8% and population grows by 12%, then...

A: real GDP grows by 8% and population grows by 12%, This means that real GDP per capita will decrease…

Q: The Which of these represents an example of citizens who would not typically be counted as…

A: Answer :- Option (D) - All of the above

Q: On average, it takes 3 months for an unemployed person to find a job. A job lasts for 30 months on…

A: According to the Bureau of labor statistics(BLS), an individual is considered unemployed if he is…

Q: Someone may be unemployed for all of the following reasons, EXCEPT losing a job being an entrant or…

A: A person is said to be unemployed if he/she is willing to work and looking for a job but not getting…

Q: When a recession hits, should the government take strong steps to get the economy going again and…

A: Recession is a situation where the economic activities across the country decreases.

Q: To be officially counted as unemployed, one must be...

A: The labor force is the combination of employed people and unemployed people in the country.

Q: Refer to the given information about a hypothetical economy. The unemployment rate is Multiple…

A: Labor force=employed+unemployed =80+25+15=120 Unemployed=15 Unemployment rate=unemployed/labor…

Question

2. Suppose you are able-bodied and intelligent, but lazy. You'd rather sit at home and watch television than work, even though you know you could find an acceptable job if you looked.

a. Are you officially unemployed?

b. Are you a discouraged worker?

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.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 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

Suppose you are able-bodied and intelligent, but lazy. You'd rather sit at home and watch television than work, even though you know you could find an acceptable job if you looked. a. Are you officially unemployed? b. Are you a discouraged worker?
Suppose the number of employed people in Pakistan is 20.5 million. The unemployment rate in this economy is 8.8 percent, and the labor force participation rate is 65 percent. i. What is the size of the labor force and working-age population?ii. How many people are unemployed?
What is the difference between being unemployed and being out of the labor force?
Question 11 (* Which one of the following people would be counted as unemployed in Canada? Kanhaya has stopped looking for work since he was unable to find a suitable job during a two-month search. Doris works only 5 hours a week but is looking for a full-time job. Sharon recently began looking for work after staying at home for 10 years to look after her children. Taylor is a homemaker. Maurice is on a two-month vacation out of the country but is still looking for a job using the Internet.
Why do you think that unemployment rates are lower for individuals with more education?
You are given the following information for a country: population of working age 6 million; labour force 4 million; and employed 3.5 million. Based on this information, which of the following is correct? a. There are 2.5 million unemployed in this country. b. The unemployment rate is approximately 8%. c. The employment rate is approximately 88%. d. The participation rate is approximately 67%.
Question 8 ABC Country has 1,289,902 unemployed and a labor force of 4,379,233. What is the unemployment rate for ABC Country?
14. The unemployed are those people who do not have jobs. are not employed but are seeking work are not working are not working
Anna recently graduated from college with a degree in electrical engineering, but she has not yet started working. To be counted as “unemployed” she a. does not have to have looked for work. b. must have looked for work no more than a week ago. c. must have looked for work no more than four weeks ago. d. must have looked for work no more than twelve weeks ago.
Unemployment is a major concern for the United States and across industrialized nations. But what is the unemployment rate in the United States? For this week’s discussion, do some research about the US unemployment rate. Does the percentage surprise you? Why or why not? Is it a higher or lower percentage than you thought?
what do you understand about unemployment rate among young graduates?
A nation has a population of 260 million people. Of these, 60 million are retired, in the military, in institutions, or under 16 years old. There are 188 million who are employed and 12 million who are unemployed. Calculate the unemployment rate.