An increase in the production of capital goods and a reduction in the production of consumer goods would most likely lead to a faster rate of future economic growth. a. True O b. False
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- Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation RateLabor Force Participation Rate = = According to this formula, what is the labor force participation rate of this economy of six people? 40% 50% 80% 100% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Unemployment RateUnemployment Rate = = According to this formula, what is the unemployment rate of this economy of six people? 40% 50% 80% 100%The unemployment rate is the_____who are unemployed.O. percentage of people in the labor forceO. percentage of people in the countryO. number of people in the labor forceO. percentage of the working-age populationBetween 2008 and 2009, total Canadian employment increased by 277,000 workers, but the number of unemployed workers increased by 400,000. Which of the following statements are consistent with this finding? Check all that apply. O. The labour force increased. O. The labour force decreased. O. The number of discouraged workers increased. O. The adult population decreased.
- A changing-basket price index (Passche index) like the GDP deflator tends to:a. underestimate the change in the cost of living because it does not take into account that people can substitute less-expensive goods for ones that become more expensive.b. overestimate the change in the cost of living because the continual introduction of new goods makes consumers better off even if prices do not fall.c. underestimate the change in the cost of living because it does not reflect the reduction in consumers’ welfare that may result from the substitutions of less expensive goods for more expensive ones.d. overestimate the change in the cost of living because it takes into account that people can substitute less expensive goods for more expensive ones.Suppose that the county of Bigu has a population of 127 million, of which 83 million are in the working-age population. OF those, 25 million are not in the labor force and 52 million are employed. A. Calculate the working-age population as a percentage of the population B. Calculate the labor force participation rate C. Calculate the unemployment rate.The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Lucia spends all of her money on comic books and beignets. In 2012, she earned $15.00 per hour, the price of a comic book was $5.00, and the price of a beignet was $3.00. Which of the following give the nominal value of a variable? Check all that apply. a. Lucia's wage is 3 comic books per hour in 2012. b. Lucia's wage is $15.00 per hour in 2012. c. The price of a beignet is 0.6 comic books in 2012. Which of the following give the real value of a variable? Check all that apply. a. Lucia's wage is $15.00 per hour in 2012. b. Lucia's wage is 5 beignets per hour in 2012. c. The price of a comic book is $5.00 in 2012. Suppose that the Fed sharply increases the money supply between 2012 and 2017. In 2017, Lucia's wage has risen to $30.00 per hour. The price of a comic book is $10.00 and the price of a beignet is $6.00.…
- The last decade was free of recessions and from the opening bell in January 2010 to the closing bell in December 2019, the Dow Jones Industrial Average and S&P 500 soared 173.60% and 189.35%, respectively. The Gross Domestic Product increased from $14.992 trillion to $21.433 trillion. Yet during that same period, the labor force participation rate actually declined. So, how could it drop when the economy was booming and labor force participation ages 65 and over. The oldest baby boomers were 64 in 2010 and 73 in 2019. As they aged, a large segment of the population shifted into 65 and older age groups. Because older Americans are less Likely than younger ones to be in the labor force, this demographic shift reduced the overall labor force participation rate. According to this, which of the following statements best explain the labor participation change? Hint: Use the labor Force Participation Formula A. The labor force participation rate grew in every age category because…The last decade was free of recessions and from the opening bell in January 2010 to the closing bell in December 2019, the Dow Jones Industrial Average and S&P 500 soared 173.60% and 189.35%, respectively. The Gross Domestic Product increased from $14.992 trillion to $21.433 trillion. Yet during that same period, the labor force participation rate actually declined. So, how could it drop when the economy was booming and labor force participation ages 65 and over. The oldest baby boomers were 64 in 2010 and 73 in 2019. As they aged, a large segment of the population shifted into 65 and older age groups. Because older Americans are less Likely than younger ones to be in the labor force, this demographic shift reduced the overall labor force participation rate. According to this, which of the following statements best explain the labor participation change? Hint: Use the labor Force Participation Formula A. The labor force participation rate grew in every age category because baby…Suppose 25,000 persons become unemployed. You are given the following data about the length of unemployment spells in the economy:Duration of Spell (in months) Exit Rate1 0.602 0.203 0.204 0.205 0.206 1.00where the exit rate for month t gives the fraction of unemployed persons who have been unemployed t months and who “escape” unemployment at the end of the month.a. How many unemployment-months will the 25,000 unemployed workers experience?b. What fraction of persons who are unemployed are “long-term unemployed” in that their unemployment spells will last five or more months?c. What fraction of unemployment months can be attributed…
- Supposethe number of employed people in an economy is121,166,640. The unemployment rate in this economy is10.4 percent, and the labor force participation rate is72.5 percent.a. What is the size of the labor force?b. How many people are unemployed?c. What is the size of the working-age population?Supposethe number of employed people in an economy is121,166,640. The unemployment rate in this economy is10.4 percent, and the labor force participation rate is72.5 percent. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population?The labor-force participation rate measures the percentage of the a. total adult population that is in the labor force. b. total adult population that is employed. c. labor force that is employed. d. labor force that is either employed or unemployed.
