What are the contrasting explanations that have been put forward by Nickell (1997) and Blanchard and Wolfers (2000) for variations in unemployment across countries, in particular across Europe and the United States?
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- Since 1960 there has been a substantial increase in unemployment rates in major European countries. Give two reasons for this happening in Europe.Why is the unemployment rate amongst the Native Americans so high? Provide the relevant data and an explanation of this phenomenon.According to the most recent survey conducted by Statistics Bureau of Metropolis, currently there are 14 million people between the age of 15 and 64 living in the city. If the labour force participation rate in Metropolis is 65 percent and 8.5 million people currently have jobs, what is the rate of unemployment? Options: A) 3.7% B) 7.8% C) 6.6% D) 11.4% E) 12.9% Show all working out and full explanations.
- What is the national definition of unemployment adopted in Afghanistan? The definition must specify (i) the working age group; (ii) maximum number of hours per week beyond which the person will no longer be consider unemployed; (iii) reference period (number of weeks or days) for looking for job; and (iv) working hours reference period for availability to start a job.The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilianpopulation in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilianpopulation who were not in the labor force? Also, with examples examine thecauses of structural unemployment in Australia.The unemployment rate statistic published by the Bureau of Labor Statistics may underestimate the magnitude of the unemployment problem in the economy because a) all part-time workers are counted as "employed" even though some would prefer to work full-time (i.e. are underemployed). b) some workers are working in jobs for which they are overqualified (also underemployed). c) "discouraged workers," who are no longer looking for work, are not counted in the labor force. d) all of the above.
- Compare two unemployed workers: one is 25 years old while the other is 55 years old. Both workers have similar skills and face the same wage offer distribution. Suppose that both workers also incur similar search costs. Which worker will have a higher asking wage? Why? Can search theory explain why the unemployment rate of young workers differs from that of older workers?if there is unemployment in the labor market, what would you recommend as a set of policies or programs to address such problems. Illustrate your recommendations geometrically (i.e., graphically).Who reports the official U.S. unemployment rate? the U.S. Bureau of Labor Statistics the U.S. Federal Reserve the U.S. Treasury Department unemployment collection offices How frequently is the survey that determines unemployment released? yearly weekly monthly quarterly
- Discuss TWO (2) types of unemployment and provide a relevant example for each.Explain involuntary unemployment under different theoriesWhich of the following combinations would increase unemployment in an economy? Select one: a) High interest rate, low taxes b) Low interest rate, high taxes c) Low interest rate, low government spending d) High interest rate, low government spending e) Low interest rate, low taxes