
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
expand_more
expand_more
format_list_bulleted
Question
- We consider the
unemployment rate to be ___________, hence why the unemployment rate _________ following a negative real shock. - a.acyclical, rises
- b.countercyclical, rises
- c.countercyclical, falls
- d.procyclical, falls
- e.procyclical, rises
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 2 steps

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
- EXPLAIN..... In the long run, the unemployment rate is determined by ____. the rate of cyclical unemployment the rates of frictional and structural unemployment the rate of structural unemployment the rate of frictional unemploymentarrow_forwardFrom 2018-2019, the unemployment rate ________ and the inflation rate ________ in the United States. increased; increased increased; fell fell; increased fell; fellarrow_forwardSince 1970, the United States has experienced 5 periods and 2 periods. O stagflationary, deflationary O inflationary; expansionary O recessionary; inflationary O recessionary; expansionaryarrow_forward
- The structural unemployment rate is 4 percent, the natural unemployment rate is 5 percent, and the cyclical unemployment rate is 3 percent. The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent. A. 2; 7 B. 2; 8 C. 1; 7 D. 1; 8arrow_forwardExplaining short-run economic fluctuationsarrow_forwardQUESTION 13 "Consider the labor market in year 2021 but now assume that wages are totally rigid and cannot adjust during 2021. In this year business owners predict low sales for the years to come. As a result, they reduce labor demand. Draw the new equilibrium in a diagram and label it as point C. Use the following equations to find the new equilibrium: LD-70.000-w, LS-b+2w, where b-10,000. What is the unemployment rate? Keep in mind that wages are totally rigid and use the diagram to help you understand what is going on." 43 percent 22 percent. O 20 percent None of the other optionsarrow_forward
- At a business cycle trough, cyclical unemployment is A. high; zero B. zero; low C. negative; positive D. positive; negative and at a business cycle peak, cyclical unemployment isarrow_forwardThe sum of frictional, seasonal, and structural unemployment is referred to as the _______________________________. This is the average level of unemployment that is expected to prevail in an economy and in the absence of cyclical unemployment. a. natural rate of unemployment b. “full employment" unemployment rate c. normal rate of unemployment d. none of the above is correct e. a, b, and c are all correctarrow_forwardThe normal rate of unemployment that persists in the economy in the long run is called a. frictional unemployment. b. structural unemployment. c. cyclical unemployment. d. the natural rate of unemployment.arrow_forward
- Please help with this practice questionarrow_forwardQuestion 1 The economy Is at full emplayment when A there are more unemployedbtworkers than vacancCIe Ball unemployment Is cyClical C there are no unemplayment wUorkers Dallemploymentis frietional and lor structabral Question 2 Structioral Unemployment Isassociated with A short -term unemployment B general down turns in the economY C the changing of jobs ina dynamic economy D the changes intechnology that change required Question 3 Real GDP Is adjusted for inflation ATrue B False Queston 4 Including discouraged workers in the calculation unemployment rate would JA increase the reported rate B lower the reported rate not change the reported rate D chunge the reported rate butin an unpredictatarrow_forwardSuppose the economy is self-regulating and the (actual) unemployment rate is less than the natural unemployment rate. This means that the economy is producing a level of output a. above its naturel level and will eventually cut back on output b. below its natural level and will eventually increase output c. below its natural level but no forces exist to automatically increase output d. above its natural level and institutional constraints will automatically be reduced so as to allow the economy to continue producing this level e. none of the abovearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education


Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON

Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education