The table below shows some macroeconomic data for the economy of Langhorne.GDP values are in billions of dollars.GDP (actual)unemployment rate (U%)2012GDP gap23819.420131852421 25189.32012 20132014 2015 20161828.726438.227877.9Use Okun's Law to complete the table below. Assume that Langhorne has a naturalrate of unemployment of 6.3% for all years shown. Round all values to zero decimalpoints.201729148.02014 2015 2016 2017

Okun's Law is given as:Y¯ - YY¯ = c(u - u¯)Y¯ : Potential OutputY : Actual outputu : unemployment…

The table below shows some macroeconomic data for the economy of Langhorne. GDP values are in billions of dollars. GDP (actual) unemployment rate (U%) 2012 GDP gap 2381 9.4 2013 2014 2015 2016 2518 2643 2787 8.7 7.9 2421 9.3 2012 2013 8.2 185 182 2017 Use Okun's Law to complete the table below. Assume that Langhorne has a natural rate of unemployment of 6.3% for all years shown. Round all values to zero decimal points. 2914 8.0 2014 2015 2016 2017

The table below shows some macroeconomic data for the economy of Langhorne. GDP values are in billions of dollars. GDP (actual) unemployment rate (U%) 2012 GDP gap 2381 9.4 2013 2014 2015 2016 2518 2643 2787 8.7 7.9 2421 9.3 2012 2013 8.2 185 182 2017 Use Okun's Law to complete the table below. Assume that Langhorne has a natural rate of unemployment of 6.3% for all years shown. Round all values to zero decimal points. 2914 8.0 2014 2015 2016 2017

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In April approx. 22 million people filed for unemployment ins. In March, the labor force was 162,913,000 with employment=155,772,000 and unemployed=7,140,000. (please answer part D) A. What would April's unemployment rate be approximately? 4.38% B. If unemployment is around 4% and from Okuns law approximately for every 1% point change in unemployment, GDP falls 2%, how much has GDP dropped in % terms? 8% C. If real GDP in March was $19,221.970 billion ($19.22 trillion), what is the drop in dollar value of production? $1,537,677,600,000 D. If JDL Forcasting announced that they predict the mpc has fallen to 0.5, how much government spending will need to be injected to get back to Unemployement(natural rate of unemployement where actual and potential output are back to long-run levels)
What are the two main causes of natural unemployment? Assume an economy has undergone a shift from a manufacturing sector to a service sector. How will this affect its natural unemployment rate? Explain. + Briefly explain a government policy to help alleviate the problems caused by this change.
Based on the information in the table below, calculate the unemployment rate: Total adult population over the age of 16 83 million Total in the labor force 63 million Total Employed 60 million Total Unemployed 3 million Total out of the labor force 20 million A)75.9% B) 4.76% C) 31.7% D) 3.61%
Suppose that the labor force in the Canary Islands is 82,452. There are also 1,631 stay-at-home parents in the Canary Islands, and the population is 109,714. Currently, there are 78,125 people employed. What is the unemployment rate, rounded to the closest tenth of a percent? 3.8% 9.0% 28.7% 5.2% 4.8%
c) Suppose that the Working-age Population is 45 million, the Labour Force is 38 million while the unemployment rate is at 3.5%. Calculate the: i) Labour Force Participation Rate ii) Employment-to-Population Ratio
4.6M Filipinos jobless in July as unemployment worsens in Metro Manila - PSA Metro Manila (CNN Philippines, September 3)-Some 4.6 million Filipinos were out of work in July, slipping from an all-time high as lockdown rules were gradually eased, the Philippine Statistics Authority said Thursday. The PSA reported a 10 percent unemployment rate among Filipinos aged 15 and up, easing from 17.7 percet in April although still higher than the 5.4 percent level a year ago. National Statistician Dennis Mapa said in a media briefing that the relaxation of community quarantine rules allowved more Filipinos to return to work. However, unemployment was worse in Metro Manila at 15.8 percent or about 929,000 adults, surpassing the national average and rising from the 12.3 percent share of jobless residents for the region in April. Calabazon tallied about 886,000 unemployed, while Central Luzon had 552,000 jobless Filipinos, he added. These economic centers also count among the biggest number…
The below table shows the labour force data for the country of Parsha in 2019 (figures in millions): Round your answers to 2 decimal places. Population Working-age population Labour force Employed Labour force participation % 2019 48 2020 48 41 Not in working-age population 38 36.3 92.7 Not in labour force Unemployed Unemployment % 2019 2020 7 3 1.7 4.5 Suppose the only change that occurs in 2020 is that the number of retired workers increases by 1.8 (million). Complete the above table.
1. Examine the data on unemployment rate and Economic rate for country A and Country B i) Identify the relationship between economic growth and unemployment rate (if any positive, negative, no relationship) Use the data to justify your choice.
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.
You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country: Country Labor Force (millions) Employed (millions) Natural rate of unemployment Bumdumbourge 130 120 6.3% Mundelow 465 437 6.5% Totalslava 88 82 6.9% Potamia 285 264 7.3% Dortugal 311 295 5.5% Prance 396 355 9.2% a. From the data given, which country has the largest number of unemployed people? b. Totalslava has the smallest number of unemployed people; how does its unemployment rate compare to Bumdumbourge and Mundelow? c. Which countries are currently in recession? Which countries are experiencing a boom?
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%…
Table 29-3 Number of People (In Millions) Category Civilian labor force Persons unemployed 15 weeks or longer Job losers and persons who have completed temporary jobs (excludes job leavers) Total unemployed Total unemployed plus discouraged workers Total unemployed plus all marginally attached workers 120 2.0 3.5 7.0 7.8 8.7 Total unemployed plus all marginally attached workers plus total employed part-time 9.6 for economic reasons Refer to Table 29-3. What is the U-4 measure of labor underutilization? Note: Total Discouraged workers = Total unemployed plus discouraged workers - Total unemployed U-4 measure of labor underutilization = Total unemployed plus discouraged workers/(Total labor force + Total Dicouraged workers) 17.9% 6.9% 6.5% 7.0%