Economics For Today
9th Edition
ISBN: 9781305507074
Author: Tucker, Irvin B.
Publisher: Cengage Learning,
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Chapter 1, Problem 15SQ
To determine
Identify the positive economic statement.
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Students have asked these similar questions
1. Why do you think so many Americans are not included in
the unemployment rate?
2. What can be done to encourage these 'discouraged
workers?'
3. How would our economy operate if the BLS reported a
more accurate unemployment rate of 15%?
4. What does an unemployment rate of 3.4% today mean for
our economy?
If an economy has experienced unanticipated inflation, which of the following groups has most likely benefitted?
b. Retired workers who have fixed incomes
c. Homeowners who have fixed rate mortgages
d. Banks that have issued loans at a fixed interest rate
What is likely to happen to unemployment
rates when a country experiences an
economic boom?
A. Unemployment rates will increase.
B. Unemployment rates will decrease.
C. Unemployment rates will remain
unchanged.
D. Unemployment rates will initially
decrease, then sharply increase.
Chapter 1 Solutions
Economics For Today
Ch. 1.6 - Prob. 1YTECh. 1.7 - Prob. 1YTECh. 1.7 - Prob. 2YTECh. 1.7 - Prob. 3YTECh. 1.A - Prob. 1SQPCh. 1.A - Prob. 2SQPCh. 1.A - Prob. 1SQCh. 1.A - Prob. 2SQCh. 1.A - Prob. 3SQCh. 1.A - Prob. 4SQ
Ch. 1.A - Prob. 5SQCh. 1.A - Prob. 6SQCh. 1.A - Prob. 7SQCh. 1.A - Prob. 8SQCh. 1.A - Prob. 9SQCh. 1.A - Prob. 10SQCh. 1.A - Prob. 11SQCh. 1.A - Prob. 12SQCh. 1.A - Prob. 13SQCh. 1.A - Prob. 14SQCh. 1.A - Prob. 15SQCh. 1.A - According to Exhibit A-5, what is the relationship...Ch. 1.A - Prob. 17SQCh. 1.A - Prob. 18SQCh. 1.A - Prob. 19SQCh. 1.A - Prob. 20SQCh. 1 - Prob. 1SQPCh. 1 - Prob. 2SQPCh. 1 - Prob. 3SQPCh. 1 - Prob. 4SQPCh. 1 - Prob. 5SQPCh. 1 - Prob. 6SQPCh. 1 - Prob. 7SQPCh. 1 - Prob. 8SQPCh. 1 - Prob. 1SQCh. 1 - Prob. 2SQCh. 1 - Prob. 3SQCh. 1 - Prob. 4SQCh. 1 - Prob. 5SQCh. 1 - Prob. 6SQCh. 1 - Prob. 7SQCh. 1 - Prob. 8SQCh. 1 - Prob. 9SQCh. 1 - Prob. 10SQCh. 1 - Prob. 11SQCh. 1 - Prob. 12SQCh. 1 - Prob. 13SQCh. 1 - Prob. 14SQCh. 1 - Prob. 15SQCh. 1 - Prob. 16SQCh. 1 - Prob. 17SQCh. 1 - Prob. 18SQCh. 1 - Prob. 19SQCh. 1 - Prob. 20SQ
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- If some of unemployed individuals became discouraged workers, which of the following would result? a. The labor force would decrease and the unemployment rate would increase. b. The labor force would increase and the unemployment rate would decrease. c. The labor force would decrease and the unemployment rate would decrease. d. The labor force would decrease and the unemployment rate would remain the same. e. The labor force would increase and the unemployment rate would remain the same.arrow_forwardThe goal of studying and recording the unemployment rate is to learn something about the state of the economy. Explain why each of the following makes the unemployment rate a better or worse indicator of how healthy the economy is. A. If people in the military aren't included in the labor force, does the unemployment rate become a better or worse indicator of the state of the economy? B. If discouraged workers aren't counted in the labor force, does the unemployment rate become a better or worse indicator of the state of the economy?arrow_forward1.Explain the trade-off between unemployment and inflation.arrow_forward
- a. Suppose that in a small nation the adult population is 6 million, the number of employed is 3.8 million, and the labor force participation rate is 70%. What is the unemployment rate? b. Explain why unemployment rate can never be zero. C. Explain the differences between frictional unemployment and structural unemployment.arrow_forwardThis is a two-part question dealing with the unemployment rate. Explain how and why it might be possible for the unemployment rate to fall during the worst part of a recession. Secondly, explain how and why it might be possible for the unemployment rate to rise when the economy is in the early stages of recovery.arrow_forwardIf borrowers and lenders anticipate that the rate of inflation will be 5%, but instead it turns out to be 3%, which of the following is likely to occur? Select one: a. The real interest rate is higher than expected. b. Lenders wish that they had made fewer loans. c. Borrowers wish that they had borrowed more money. d. Insufficient loans will have been made by lenders to maintain profit levels.arrow_forward
- 3.In 1993, the U.S. population was 256,394,000, of whom 192,690,000 were age 16 or over. The Labor force including the Armed Forces was 132,724,000, the civilian labor force was 131,387,000, and civilian employment was 123,414,000. a. The labor force participation rate for ages 16 and over is? b. The total unemployment rate (including the military) is? c. The civilian unemployment rate is? d. Why is the total unemployment rate lower than that for civilians?arrow_forwardThe unemployment rate in Country Y is 6 percent, and the labor force is equals about 200 million people. What can we say about the labor force participation rate? It may be smaller, equal to, or greater than 94 percent if 80 percent of the 400 people in Country Y are considered potential workers. b. It is equal to 94 percent. c. It is greater than 94 percent if there are no discouraged workers. d. It is smaller than 94 percent if 80 percent of the 400 people in County Y are considered potential workers. ×arrow_forwardWhen 100 people who were previously looking for jobs stop looking for jobs, the Select one: a. unemployment rate does not change. b. size of the labor force decreases. c. labor-force participation rate does not change. d. unemployment rate increases.arrow_forward
- How does an increase in the minimum wage affect unemployment levels in a perfectly competitive labor market? A. It has no effect on unemployment levels. B. It decreases unemployment levels. C. It increases unemployment levels. D. It initially increases but eventually decreases unemployment levels.arrow_forwardThe attached chart (Quits: Total Nonfarm) shows the quit rate (the number of who quit their job during the entire month as a percentage of total employment. (a) All else constant, what effect does an increase in the quit rate have on the unemployment rate? (b) Do you consider job quits as frictional or structural unemployment? Why? (c) What happens to the quit rate during the recession of 2007-08? Why? (d) What happened to the unemployment rate during the recession of 2007-08? How do you reconcile this answer with your answers for items (a) and (c)? (e) Use your answers to explain why the unemployment rate will never fall to zero and a certain amount of unemployment is desirable.arrow_forward1. What can be done to prevent unemployment? 2. What can be done to decrease unemployment?arrow_forward
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