Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.

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Asked Jan 21, 2019
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Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.

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Expert Answer

Unemployment is a world wide problem. Basically it is generated due to low demand of labour in labour market.  For developing or poor countries, the problem of unemployment is a main challenge which has been keeping these economics under developed for several years. In other word it is also known as the situation of joblessness which effected the whole economy for a long term. If any person in any economy is not in a job his disposable income will be low which ultimately affect to the demand for the products, tax revenue of the governement etc and it is not a posotive indication for any economy either it is developed or developing.

As it is mentioned in the question that the unemplyment rate of the Bell land's is 7.2 percent which is undoubtely not a healthy rate for the growth. And if ruler of the Bell land who is woderfull, middel aged women ask my view about this, being an economist I would be disagree with this huge rate of unemployment and try to suggest some economic methods to get ride from this economic problem.

Ofcourse 7.2 percent of the unemplyment should be lower down by the rate of 1-2 percent. There are many economic policies which should be implemented wisely by the ruler and other policy makers of the Bell land. As I already...

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