Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 22, Problem 1IAPA
To determine
To compare:
The
To determine
To mention:
The way in which unemployment rate in the 2000 and 2016 were affected with the unemployment of marginally attached workers in the USA.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is natural rate of unemployment? When do we say an economy has full employment?
2. Identify what type of unemployment will result from the following scenarios
a. Jane has completed college and quit her job at Tim Horton so she can work full-time in her marketing field:
b. The clothing store George used to work for was shut down as the clothing brand is now selling all its collection through its online website:
c.The business Hank was working for had to shut down as there has been a decrease in overall demand in the economy:
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.
Assume that Maria participates in the BLS survey in June of a certain year and is counted as a
discouraged worker. After the survey is taken, she looks for a job but is unsuccessful in finding
work. Assuming no other changes, what would happen if Maria participates in the BLS survey in
July?
O The number of people counted as unemployed would increase, the number of people counted in the labor
force would increase, and the unemployment rate would stay the same.
The number of people counted as unemployed would decrease, the number of people counted in the labor
force would increase, and the unemployment rate would decrease.
O The number of people counted as unemployed would increase, the number of people counted in the labor
force would increase, and the unemployment rate would decrease.
O The number of people counted as unemployed would stay the same, the number of people counted in the
labor force would increase, and the unemployment rate would decrease.
O The number of people counted…
Chapter 22 Solutions
Foundations of Economics (8th Edition)
Knowledge Booster
Similar questions
- The U.S. unemployment rate increased from 4.6 in July 2001 to 5.9 by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? My?arrow_forwards Assume you have the following information about an economy: Labor Force of an Economy Sumber of People (nillions) 243.8 153.6 90.2 144.2 Population over age 16 Labor force Not in the labor force Employed Unemployed Instructions: Round your answers to two decimal places a. What is the unemployment rate in this economy? b. What is the labor force participation rate? c. Assume that 0.9 million discouraged workers decide to start looking for work again, thereby increasing the number of officially unemployed workers by 0.9 million. What is the unemployment rate now? d. What is the new labor force participation rate?arrow_forwardA country with a population of 120,000 (all over age 16) has 100,000 employed and 10,000 unemployed persons of which 5000 are frictionally unemployed and another 3000 structurally unemployed; I. What is the size of the labour force? ii What is the actual unemployment rate? iii what is the labour force participation rate? solve from iv to vi iv. What is the employment/population ratio? v. What is the natural rate of unemployment? vi. Is this economy in recession or a boom? Explainarrow_forward
- Recovery won't improve unemployment Despite some optimism about the seeds of recovery, the Congressional Budget Office (CBO) sees joblessness rising. The CBO sees unemployment peaking at 10.4% next year from an average of 9.3% this year, before it falls to 9.1% in 2011. Source: Fortune, August 25, 2009 Why does unemployment continue to rise as an expansion begins? O A. In the early stages of an expansion, the labor force decreases. B. As an expansion begins, previously marginally attached workers look for jobs, exceeding the number of people hired. C. In the early stages of an expansion, unemployment increases as firms lay off workers in an attempt to cut costs. D. The unemployment rate is a leading indicator of the business cycle, so unemployment continues to rise as an expansion begins. Nextarrow_forward,4. Define and explain what is unemployment?arrow_forward2. Why do economies experience unemployment? Are some types of unemployment worse than others?arrow_forward
- a) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…arrow_forward7. What kind of indicator is the rate of unemployment? Explain your answer.arrow_forwardUse the graph to answer the question. Unemployment, 1929-1945 21 1930 1935 1940 1945 Year Source: Historical Statstics of the United State Colonial Times to 1970, U.S. Census Bureau, 1975 (adapled) What was the MAIN cause of the trend in employment shown on the graph between 1942 and 1945? O A. the success of the Social Security Act B. a decline in the number of women in the workforce C. the impact of a high inflation rate O D. increased manufacturing to meet the needs of World War II Percent Unemployedarrow_forward
- June 1999 Unemployment rate June 1999 Labor Force Bowling Green 1.9% 25,424 Covington 3.1% 20,555 Lexington 2.1% 262,781 Louisville. 4.2% 577,788 Owensboro 5.9% 51,628 37. If the natural rate of unemployment in Owensboro is 5%, then how many people in Owensboro were involuntarily employed in June 1999? a. 465 b. 517 c. 137,569 d. 553, 520 e. not enough information given to answer questionarrow_forward7. What does an increase in the natural rate of unemployment imply about each of the three types of unemployment?arrow_forward3. Discuss some problems with using the unemployment rate as a barometer for the health of the labor market.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics 2eEconomicsISBN:9781947172364Author:Steven A. Greenlaw; David ShapiroPublisher:OpenStax
Brief Principles of Macroeconomics (MindTap Cours...EconomicsISBN:9781337091985Author:N. Gregory MankiwPublisher:Cengage Learning
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Principles of Macroeconomics (MindTap Course List)EconomicsISBN:9781305971509Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax
Brief Principles of Macroeconomics (MindTap Cours...
Economics
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning