1. The aggregate matching function in the Mortensen-Pissarides model of unemployment specifies function of a. Aggregate output; the stocks of capital and labor b. Aggregate number of hires; number of unemployed workers and e. vacancies C. Number of unemployed workers; Number of hires and separations 2. The unemployment rate is defined as a. Number of individuals out of labor force; Labor force b. Number of individuals out of labor force; Number of employed c. Number of individuals without jobs; Number of employed divided by d. d. e. as a Aggregate employment; Number of hires and separations Aggregate number of separations; Number of employed and new hires Number of unemployed; labor force Number of unemployed; Number of employed

1. The aggregate matching function in the Mortensen-Pissarides model of unemployment specifies function of a. Aggregate output; the stocks of capital and labor b. Aggregate number of hires; number of unemployed workers and e. vacancies C. Number of unemployed workers; Number of hires and separations 2. The unemployment rate is defined as a. Number of individuals out of labor force; Labor force b. Number of individuals out of labor force; Number of employed c. Number of individuals without jobs; Number of employed divided by d. d. e. as a Aggregate employment; Number of hires and separations Aggregate number of separations; Number of employed and new hires Number of unemployed; labor force Number of unemployed; Number of employed

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q)According to the data from the Bureau of Labor Statistics found here, Number of workers employed 8,400 Frictional unemployment 250 Structural unemployment 350 Cyclical unemployment 600 Discouraged workers 400 Adult population 12,000 A) The labour force a. 7,550. b. 8,000. c. 8,400. d. 9,600 B) the unemployment rate is a. 12.5 percent. b. 15 percent. c. 16 percent. d. 24 percent. C)the labor force participation rate is a. 12.5 percent. b. 25 percent. c. 60 percent. d. 80 percent.
The following table provides the nominal exchange rates for the USD. Foreign currency per USD USD per foreign currency Swiss Franc 1.730 1.821 0.578 Brazilian Real 0.549 Based on the table, the nominal exchange rate equals per Swiss Franc. Swiss Francs per Real or equivalently Reals Select one alternative: O 0.30; 3.33 1.053; 0.950 0.950; 1.053 6.490; 0.154 3.33: 0.30
Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Number in Laber Force Adhult Ppulation 100 x Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? O 20% 60% O 66.67% O 200% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Number of Unemployed Workers Labr Fare 100 x Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? O 20% O 60% O 66.67% O 200%
The Bureau of Labor Statistics reported the following data for 2010:Labor force: 153.7 millionEmployment: 139.1 millionWorking-age population: 237.9 millionCalculate the:a) Unemployment rate.b) Labor force participation rate.c) Employment-to-population ratio.d) Why might the unemployment rate underestimate the underutilization of labor resources?
Frictional unemployment 5 bln people, Structural unemployment 5 bln people, Cyclical unemployment 10 bln people, Employed 200 bln peopleTotal population size 300 bln people, Potential GDP $3000 blnOkun’s coefficient is 2,5.a) How much is natural unemployment?b) How much is actual unemployment?c) Compute actual GDP and GDP gap.
Explain whether each of the following changes in the composition of the labor force is likely toaffect frictional or structural unemployment and increase or decrease the measured natural rate ofunemployment.(a) A “baby boom” causes an increase in the share of young workers (age 16–24) as a percentageof the labor force. (b) A loosening of federal restrictions on eligibility for disability benefits leads to an increase inthe number of people receiving disability payments
In a model of unemployment, if the job finding is 0.10 and the job separation rate is 0.05, how long is the average spell of employment? a. 20 periods b. 5 periods c. 10 periods d. 100 periods
Are the following workers more likely toexperience short-term unemployment or long-termunemployment? Explain.a. a construction worker who is laid off because ofbad weatherb. a manufacturing worker who loses his job at aplant in an isolated areac. a stagecoach-industry worker who is laid offbecause of competition from railroadsd. a short-order cook who loses his job when a newrestaurant opens across the streete. an expert welder with little formal education wholoses his job when the company installs automaticwelding machinery
If, over two periods (quarters), the unemployment rate had reduced from 6.5 to 5.5 per cent and the measured underemployment rate had increased from 7.5 per cent to 8.2 per cent, the change to the labour underutilisation rate would have been ..... Select one: a. an increase of 0.3 per cent. b. a decrease of 0.3 per cent. c. an increase of 0.7 per cent. d. a decrease of 0.7 per cent.
This is a graph of 3 measures of unemployment from the period just before the great recession to just before the covid 19 recession The red line, is the unemployment rate including discourage workers and workers marginally attached to the labor force. The Blue line is the unemployment rate as measured by the BLS The Green line is the Natural rate of unemployment, the target rate, the NAIRU. The gray bar represents the recession of 2008, and the subsequent recovery of the economy afterwards. This was evidenced by a gradual increase in GDP. Is the pattern of all 3 series what you would expect in terms of the behavior of all 3. Provide reasons for your answers.Your answer should include reference to AD/AS or the AE model.
Use the following graph, which shows the unemployment rate on the vertical axis and the date on the horizontal axis, to answer question below. Percent of Labor Force 10% Line A 8 – 6 Line B 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 What type of unemployment is most likely measured by the differences between lines A and B? Select one: O a. Cyclical unemployment. Ob. Structural unemployment. Frictional unemployment. O d. The natural rate of unemployment.
The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3%Natural rate of unemployment 4%Civilian, noninstitutional population age 16 and over 125 millionNumber of people employed full time 92 millionNumber of people employed part time 5 millionNumber of people unemployed 3 millionNumber of discouraged workers 2 million(a) Calculate the size of the labor force. Show your work. (b) Calculate the labor force participation rate. Show your work. (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. (e) Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?