What occurs in the labor market when the real wage rate is above the full-employment equilibrium level?When the real wage rate is above the full-employment equilibrium level,O A. the natural unemployment rate increasesO B. unemployment benefits decreaseC. the quantity of labor demanded increasesO D. the natural unemployment rate decreasesClick to select your answer.

Full employment level is the level at which cyclical unemployment is zero and the unemployment in…

What occurs in the labor market when the real wage rate is above the full-employment equilibrium level? When the real wage rate is above the full-employment equilibrium level, A. the natural unemployment rate increases O B. unemployment benefits decrease O C. the quantity of labor demanded increases D. the natural unemployment rate decreases

What occurs in the labor market when the real wage rate is above the full-employment equilibrium level? When the real wage rate is above the full-employment equilibrium level, A. the natural unemployment rate increases O B. unemployment benefits decrease O C. the quantity of labor demanded increases D. the natural unemployment rate decreases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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When the economy is at full employment, which types of unemployment remain? A. frictional and cyclical B. frictional and structural C. cyclical and structural D. None of the above. Full employment means that there is no unemployment, so the unemployment rate would be zero. The "normal" underlying level of unemployment in the economy is O A. the sum of structural unemployment and frictional unemployment. B. the natural rate of unemployment. C. the full-employment rate of unemployment. O D. All of the above.
11 which of the following is a macroeconomic * decision or concent the unemployment rate for the entire economy the price of oil O the unemployment rate for a firm O how many television sets to produce O
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How does cyclical unemployment change between a business cycle trough and a business cycle peak? At a business cycle trough, cyclical unemployment is and at a business cycle peak, cyclical unemployment is O A. positive; negative B. high; zero C. zero; low O D. negative; positive
Homework (Ch 11) Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019. The cost of each item in the basket and the total cost of the basket are shown for 2017. Perform these same calculations for 2018 and 2019, and enter the results in the following table. 2017 2018 2019 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 10 2 20 1. Calculators 50 50 54 75 Large coffees 200 200 1 Energy drinks 100 200 4 Textbooks 10 100 1,000 120 150 Total cost 1,470 Price index 100 Suppose the base year for this price index is 2017. In the last row of the table, calculate and enter the value of the CSPI for the remaining years. Between 2017 and 2018, the CSPI increased by Between 2018 and 2019, the CSPI increased by 15…
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A. only if that person has worked full time over the previous week. B. if that person holds either a part-time or full-time paid job. OC. if that person holds a paid job or may not be working but has looked for work in the previous week O D. when a person has worked at the same job for one year continuously Potential workers are classified as being unemployed when O A. they want a full-time job and instead have a part-time job or are not working at all. O B. they do not have a paid job, have looked for work in the previous 4 weeks and aro available for work O C. they do not have a paid job, have looked for work in the previous 4 months and are available for work O D. they do not have a paid job and are currently not available for work The equation for the unemployment rate is defined as O A Unemployed 100% x Potential workers OB. Unemployed 100% x Labor force Employed 100% x Potential workers O D Employed 100% x Labor force O O O O
during expansions. The rate of unemployment tends to during recessions and During prolonged recessions, it is difficult for workers to find a job and many workers become discouraged. Which of the following is a correct statement? O A. Discouraged workers are counted in the labor force and cause the participation rate to fall. B. Discouraged workers are counted in the labor force and cause the participation rate to rise. C. Discouraged workers are not counted in the labor force and cause the participation rate to fall. OD. Discouraged workers are not counted in the labor force and cause the participation rate to rise.
10 DRAW A GRAPH. WITHOUT GRAPH THUMBS DOWN!Suppose the markup of goods prices over marginal cost is 2% and the wage-setting equation is W=P(1-u) with u being the unemployment rate.1. What is the Natural level on Unemployment?2. What is the real wage as determined by the price setting equation?3. If the markup increases to 2.5% due to an increase in the price of Oil what happens to the natural rate of employment? Explain briefly and graphically this change.
If the nominal wage is higher than real wage, it should be that O Prices are increasing and then decreasing O Prices are constant O Prices are increasing Prices are decreasing. This is a required question
An economy has 95 million people employed and an unemployment rate of 5 percent. There are 1.5 million marginally attached workers and 0.5 million of the marginally attached workers are discouraged. How many people are unemployed? 3 tries left The number unemployed is O A. A. 5.5 million B. 7.5 million O c. C. 5.0 million O D. 6.5 million
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