Week Seven Discussion Board Four

Economists use labor-market data to evaluate how well an economy is using its most valuable resource— its people. Two closely watched statistics are the unemployment rate and the employment–population ratio (calculated as the percentage of the adult population that is employed). Explain what happens to each of these in the following scenarios. In your opinion, which statistic is the more meaningful gauge of how well the economy is doing?   Situations unemployment rate employment–population ratio More meaningful one a. An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs       b. After an unsuccessful search, some of the laid-off workers quit looking for new jobs.       c. Numerous students graduate from college but cannot find work.       d. Numerous students graduate from college and immediately begin new jobs.       e. A stock market boom induces newly enriched 60-year-old workers to take early retirement.…

Summarize the articel. KUALA LUMPUR, Nov 3 ― A research by Khazanah Research Institute (KRI) found that agriculture employment has declined significantly to just 10.2 per cent out of the total employment nationwide in 2019, from 31.2 per cent in 1982. According KRI’s recently published report, “Work in an Evolving Malaysia: The State of Households 2020 Part II”, the decline was due to the country’s economic structure that has evolved over the years and caused concentration of economic activities continuing to differ between states. “The agriculture sector however remains an important source of employment in the north and east coast states such as Pahang, and in Sabah and Sarawak,” said KRI in the report. KRI found that the agriculture jobs tend to have slower productivity levels (Gross Domestic Product per employment) compared to states with less concentration in agricultural activities. “Additionally, agriculture has consistently reported a higher incidence of fatal injuries. “In some…

Economists use labour-market data to evaluate how well an economy is using its most valuable resource— its people. Two closely watched statistics are the unemployment rate and the employment-population ratio. Explain what happens to each of these in the following scenarios. In your opinion, which statistic is the more meaningful gauge of how well the economy is doing? a. An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs. b. After an unsuccessful search, some of the laid-off workers quit looking for new jobs. c. Numerous students graduate from college but cannot find work. d. Numerous students graduate from college and immediately begin new jobs. e. A stock market boom induces newly enriched 60-year-old workers to take early retirement. f. Advances in healthcare prolong the life of many retirees

In June 2009, at the trough of the Great Recession, the Bureau of Labor Statistics announced that of all adult Americans, 140,196,000 were employed, 14,729,000 were unemployed, and 80,729,000 were not in the labor force. a) What was the size of the labor force in 2009? Show your work. b) What was the labor-force participation rate in 2009? Show your work. c) What was the unemployment rate in 2009? Show your work.

‌According to an article by the Wall Street Journal, the U.S. is at risk of running out of occupational therapists, railroad engineers, mathematicians, machinists and other workers. As a result, In the next 10 to 15 years, we expect U.S. employers to demand more labour than will be available, which will, in turn, constrain overall economic growth. On the top of that, U.S. president Donald J. Trump has put executive orders to ban nationals of selected countries from entering the U.S. Meanwhile, the top economic analysts and leaders believe that the country is going to strengthen and tighten its immigration polices to a much greater extent in the coming days. a) Referring to the above extract, briefly state in a line what do you think will happen to the U.S. labour market. b) With the help of appropriate diagrams, graphically show and briefly comment on what will happen to the U.S. real wage rate, labour hours and real GDP, due to the changes in the U.S. labour market that you stated in…

Which among the following factors is NOT a reason why the labour force participation for women has increased over the past 100 years?   Question 17 options:   the change in political and social values   the increase in technology that speeds up the time it takes to do household tasks   the steady decrease in the labour force participation for men over the same time period   the reduced number of children per family

In the market for labor, the price of labor is the: same as price of the product produced by the labor. real wage. marginal product of labor. number of hours employed per year.

Q35 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau's product sells for $3 per unit, and the wage rate is $13 per worker. What is Justin Trudeau's profit-maximizing output? Multiple Choice   16.   40   37   20   32

Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force.   Steve worked forty hours last week in a Music Supply store.

The following data pertains to Googa, an economy.  Population:258 million. Population 16 years and under or institutionalized: 116 million. Population employed: 89 million.  Population unemployed: 3 million. Population employed part time, but willing to work full time 16 million.  Population currently not employed, not seeking employment, but willing and able to work 5 million.    a. what is the labor force in Googa? b. what is the unemployment rate in Googa?

Economists use labor-market data to evaluate how well an economy is using its most valuable resource—its people.   Two closely watched statistics are the unemployment rate and the employment–population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment–population ratio in each of the following scenarios. Scenario Effect On...       UNEMPLOYMENT RATE EMPLOYMENT POPULATION RATION   Many previously laid-off workers find jobs in new startup firms as the economy expands.     (DECREASE, INCREASE OR STAY THE SAME)  (DECREASE, INCREASE OR STAY THE SAME)      After an unsuccessful search, some laid-off workers decide to go back to school as full-time students.      (DECREASE, INCREASE OR STAY THE SAME)  (DECREASE, INCREASE OR STAY THE SAME)      As a result of an economic boom, many students drop out of school and start working as soon as they become adults.      (DECREASE,…

Before the early 1900s, the prevailing opinion regarding the employment relationship was that:   Individuals should only enter into an economic relationships if there were laws ensuring minimum standards of protection   The government should never interfere with the ability of an individual to freely enter into an economic relationship with another individual   Employers should be allowed to unilaterally set terms and conditions of employment   The government should monitor economic relationships to ensure they were fair to both parties

Economists use labor-market data to evaluate how well an economy is using its most valuable resource—its people. Two closely watched statistics are the unemployment rate and the employment–population ratio (calculated as the percentage of the adult population that is employed).   Indicate what happens to the unemployment rate and the employment–population ratio in each of the following scenarios.   Scenario Effect On... Unemployment Rate Employment–Population Ratio An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs.        After an unsuccessful search, some laid-off workers quit looking for new jobs.        Numerous students graduate from college and immediately begin new jobs.        Advances in health care prolong the lives of many retirees.

The accompanying table provides data on the size of the labour force and the number of unemployed workers for the provinces and territories of Canada. Labour force (thousands) Unemployed (thousands) Province/Territory January 2019 January 2020 January 2019 January 2020 Alberta 2,497.6 2,500.1 169.8 181.7 British Columbia 2,672.5 2,664.5 125.3 118.8 Manitoba 696.1 696.7 38.6 35.7 New Brunswick 387.0 390.1 31.4 29.2 Newfoundland and Labrador 262.2 252.5 29.9 30.0 Northwest Territories 23.0 22.6 1.9 1.9 Nova Scotia 499.2 504.5 33.6 37.2 Nunavut 16.5 15.9 2.4 2.1 Ontario 7,797.7 7,973.6 448.6 415.3 Prince Edward Island 83.6 86.8 8.0 6.5 Québec 4,547.1 4,597.2 242.9 232.7 Saskatchewan 610.9 617.5 34.1 37.3 Yukon 22.2 22.2 0.9 1.1 Data from: Statistics Canada. Calculate the number of workers employed in each province and territory in January 2019 and in January 2020. Use your answer to calculate the change in the total number of workers employed between January 2019 and January 2020. For…

USA Today noted that the destruction caused by three 2004 hurricanes, combined with the already high real-estate prices, were making people reconsider retiring to Florida. The cost of homeownership was increasing partly because past hurricanes had roughly doubled insurance premiums statewide. Construction costs could rise due to stricter building codes. Some people, however, did not expect the influx of retirees to change because the baby boom generation was approaching retirement age and Florida had long attracted many retirees. Which of the following factors is tending to move the demand curve for Florida housing to the right? a.The aging of the baby boomers, increasing the number of people who are retiring. b.The increase in the cost of insurance. c.The already high real-estate prices. d.The current high construction costs.

In 2013, France's labor unions won a case against Sephora to prevent the retailer from staying open late and forcing its workers to work “antisocial hours.” The cosmetic store does about 20 percent of its business after 9 p.m., and the 50 sales staff who work the late shift are paid an hourly rate that is 25 percent higher than the rate paid to workers on the day shift. Many of the late-hour workers are students or part-time workers, who are put out of work by these new laws. Forcing the retailer to close earlier forces the store's assets, such as the building and merchandise, to be moved from lower or higher valued activities to higher or lower valued activities.   True or False: In order to profit from this law, an individual could purchase Sephora products during the day and sell them at a higher price during normal store hours.