Assume that 2 million individuals enter the labor force this month and all of them find jobs. This increase in the labor force will cause the unemployment rate to:

Q: The natural level of employment (N) will increase when a. an increase in the markup of prices over…

A: Option D All of the above.  It is the unemployment rate which occurs from economic forces.  A rise…

Q: Suppose that the natural rate of unemployment is 5.7 percent. If unemployment has for some time been…

A: It is known that Natural unemployment rate is 5.7%. The actual unemployment lies between the range…

Q: For a country, economists have estimated that structural unemployment is 2.0% and frictional…

A: Unemployment due to a change in the business cycle in an economy is termed cyclical unemployment.…

Q: Frictional unemployment may exist under full employment level.  True/False

A: Full employment refers to a situation whereby I almost everyone who is willing to work is having…

Q: A country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed…

A: The natural rate of unemployment is different than the normal rate of unemployment where the natural…

Q: If the number of people classified as unemployed is 20,000 and the number of people classified as…

A: The formula for unemployment rate is Unemployment rate = (Unemployed People / Labor Force) * 100…

Q: When the economy of a country is operating close to its full capacity unemployment is close to zero.…

A: The correct option is cyclical unemployment is close to zero. Cyclical unemployment is a type of…

Q: Suppose the unemployment rate is 7% under one of these two outcomes and 5% under the other. Based on…

A: As higher output associated with lower unemployment and lower output is associated with higher…

Q: Suppose the world price of steel rises substantially. The demand for labor among steel-producing…

A: In the labour market, the demand for labour is a derived demand as it depends upon the demand for…

Q: The actual unemployment rate exceeds the natural rate of unemployment. What are policymakers…

A: Unemployment is the situation in the economy in which the laborers are willing to offer their labor…

Q: Imagine that there are 160,000 people in the population of working age. 150,000 have jobs, 5,000 do…

A: Given: Total population = 160,000 Employed = 150,000 Unemployed = 10,000 Out of this, 5000 people…

Q: In which year did the economy above most likely have an actual unemployment rate equal to the sum of…

A: The economies around the globe are involved in various economic, and financial transactions, and…

Q: Consider a hypothetical economy in which the labor force consists of 200 people. Of those, 180…

A: Total Labor Force consists of both Employed and Unemployed Workers.  Unemployment Rate = Total…

Q: How will the following changes affect the natural rate of unemployment? Specifically, do they…

A: Unemployment refers to individuals who are in turn employable and are also actively seeking for a…

Q: : This economy is not currently at its natural rate of unemployment.

A: Natural rate of unemployment refers to the unemployment existing in the economy regardless of the…

Q: When the economy is at full employment, will the unemployment rate be 0%? Explain briefly When the…

A: ANS When an economy is at full employment then the economy is using its all available resources most…

Q: Consider an economy with the following data:   Employed = 891 million Unemployed = 9 million…

A: Unemployment Rate = Total Unemployed / Total Labor Force * 100 Total Labor Force = Total Employed +…

Q: What is meant by the full employment or the natural rate of unemployment? Which type of unemployment…

A: In an economy, unemployment refers to the situation when labor supplied exceeds labor demand in the…

Q: Consider the following scenarios and explain for each what the effect is on the official…

A: a. Unemployed workers who stop looking for work are referred to as "discouraged" workers, and they…

Q: The table gives information reported by the Bureau of Labor Statistics for April, 2016. What is the…

A:

Q: f the number of people in the labor force is 170 million and 155 million people are employed, then…

A: labor force = employed + unemployed thus unemployed= 170-155 mn = 15 million

Q: The natural unemployment rate incorporates​ (that is, it includes and directly​ tracks) structural​…

A: Unemployment refer to a situation when a person is in working age , activity finding employment but…

Q: The three people described in the following table are categorized as unemployed by the Bureau of…

A: 1. This is structural unemployment because structural unemployment arises due to the mismatch…

Q: What types of unemployment will still exist when the economy is at the natural rate of unemployment?…

A: Unemployment rate = frictional unemployment + structural unemployment + cyclical unemployment When…

Q: Is zero unemployment desirable? explain

A: >Unemployment can be categorized in three different ways: 1. Frictional Unemployment: This type…

Q: If discouraged workers are included in the determination of the unemployment rate, what effect will…

A: If discouraged workers are included in the determination of the unemployment rate, what effect will…

Q: In a country with a population of 75 million people there are 19 million children under the age of…

A: Labor force =employed + unemployed Labor force =47+8=55 million

Q: In 2009, Papua New Guinea had an estimated natural rate of unemployment equal to 4.7% and an actual…

A: The fluctuations in the business cycle as a result of recession and booming will leads to cyclical…

Q: The table below shows unemployment and labor force statistics for an economy. Actual rate of…

A: When the discouraged workers re-enter the labor force, the total labor force would be now:

Q: Q19 MCQ The unemployment rate may underestimate the true extent of unemployment if:   many people…

A: As economies and societies developed, the study of economics got more complicated. Hence, as a…

Q: The three people described in the following table are categorized as unemployed by the Bureau of…

A: Sean recently lost his job.....- Structural  A recent recession has reduced....- Cyclical  Yvette…

Q: How do economists define unemployed workers? Group of answer choices Although currently working,…

A: Labor Force include two types of workers-Employed workers and unemployed workers.

Q: If the unemployment rate is approximately 6.1% then it must be true that there is…

A: An economic issue in the country is that people do not have jobs and also do not actively look for…

Q: The three people described in the following table are categorized as unemployed by the Bureau of…

A: Unemployment Type Van recently lost his job as a waiter at a local restaurant. A recent increase in…

Q: Suppose that 20,000 of the employed switches to jobs in the underground economy. When interviewed by…

A: Unemployment is a term alluding to people who are employable and effectively looking for a job yet…

Q: The natural rate of unemployment is: found by dividing total unemployment by the size of the labor…

A: Natural rate of unemployment means that there is some level of unemployment existing in the economy…

Q: All frictional unemployment is short-term unemployment; all structural unemployment is long term…

A: Unemployment is the status of not being able to find work despite actively looking for one.…

Q: Structural unemployment   a. arises from mismatches between available jobs and workers' skills or…

A: Structural unemployment occurs when people lack the basic skills needed to do the job or live far…

Q: A consequence of unanticipated inflation in an economy is that: Group of answer choices the rate of…

A: In economics, inflation is generally defined as the overall increase in the price level in the…

Q: Which of the following would decrease the unemployment rate? an increase in the minimum wage an…

A: Unemployment refers to the situation in which the people who are willing to work at the prevailing…

Q: Calculate the unemployment rate based on the information provided below:…

A: Unemployment rate represents the percentage of labor force that is currently unemployed but are…

Q: The estimate of the current natural rate of unemployment rate in the United States is approximately…

A: Natural rate of unemployment exist due to the flexibility in labor market i.e. labor can move freely…

Q: Assume you have the following information about the unemployment rate among different groups in the…

A: