UNEMPLOYMENT1. The Bureau of Labor Statistics reported the following data for 2020:Labor force participation rate:Working-age population:Employment-to-population ratio:68 percent300 million64.7 millionCalculate the (a) labor force; (b) employment; (c) unemployment rate.2. When all unemployment isequals the natural rate, and real GDP equalsandthe unemployment rateand the output gap is3. All frictional unemployment is short-term unemployment; all structural unemployment is longterm unemployment. Do you agree or disagree with this statement? Explain briefly. Definethe underlined words.

Answered: Image /qna-images/answer/438d978d-15fa-4568-9403-a75fb4dc428e.jpg

Answered: UNEMPLOYMENT 1. The Bureau of Labor…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 7WNG

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Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
What type of unemployment (cyclical, frictional, or structural) applies to each of the following: landscapers laid off in response to a drop in new housing construction during a recession. coal miners laid off due to EPA regulations that shut down coal fired power a financial analyst who quits his/her job in Chicago and is pursing similar work in Arizona printers laid off due to drop in demand for printed catalogues and flyers as firms go the internet to promote an advertise their products. factory workers in the U.S. laid off as the plants shut down and move to Mexico and Ireland.

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UNEMPLOYMENT 1. The Bureau of Labor Statistics reported the following data for 2020: Labor force participation rate: Working-age population: Employment-to-population ratio: 68 percent 300 million 64.7 million Calculate the (a) labor force; (b) employment; (c) unemployment rate.