The size of unemployment shows the dynamics in the labor market. a. Illustrate how to calculate the Open Unemployment Rate! b. Explain why unemployment can arise and how to solve it!
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- 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.In the beginning of a recovery after a recession, employment begins to rise and the news media report these data on job growth. a) would such a report have an impact on the labor force ? b) how would it effect the unemployment rate?Who reports the official U.S. unemployment rate? a. the U.S. Federal Reserve b. the U.S. Bureau of Labor Statistics c. unemployment collection offices d. the U.S. Treasury Department How frequently is the survey that determines unemployment released? a. yearly b. quarterly c. monthly d. weekly
- Why is the unemployment rate never zero, even at full employment? The unemployment rate is never zero, even at full employment, because _______. A. there are always new workers entering the labor market to search for work, workers leaving one job to search for another job, and workers who have been laid off and are searching for another job B. there are always people without jobs because of family responsibilities such as caring for children or elderly parents C. people make lifestyle choices such as early retirement, gap years, and movements from high-stress to low-stress jobs D. cyclical unemployment is always present in the economyUnder which of the following conditions will the unemployment rate rise? Select one: a.When the numbers of jobs being created in the economy exceeds the growth in the labour force. b.When the number of people who are unemployed rises. c.When the number of jobs being created in the economy is less than the growth in the labour force. d.When the participation rate is rising.Full employment: a. will always include some unemployment. b. exists when everyone in the labor force has a job. c. exists when, on average, nearly two out of three adults in the labor force are employed. d. exists when everyone who wants a job has one. e. exists when the unemployment rate is zero.
- If the job creation rate is less than the growth in the labour force then the unemployment rate Select one: a.may rise or fall depending on other factors. b.will remain the same. c.will fall. d.will rise.Which of the following can result in a reduction of unemployment? A. Increased population growth B. Increase in demand for exports C. Reduction in labour intensity of production D. Increased immigration E. Decrease in government spendingIs unemployment typically short-term or long-term?Explain.
- 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.When the economy is at full employment, will the unemployment rate be 0%? Explain briefly When the unemployment rate equals the natural rate of unemployment, what kinds of unemployment will continue to exist.In 2019, there were approximately 163 million people in the labor force and the unemployment rate was 3.7 percent. If the unemployment rate in 2019 had been 6 percent instead of 3.7 percent, Instructions: Round your responses to one decimal place. a. How many more workers would have been unemployed? million b. How many fewer would have been employed? million