Hector lost his job as an assembly line worker at Chrysler due to the recession. Hector is, Select one: O a. seasonally unemployed. O b. frictionally unemployed. O c. not in the labour force. O d. structurally unemployed. O e. cyclically unemployed.
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- What happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?Consider an economy with 500 people in the labor force. At the beginning of every month, 5 people losetheir jobs and remain unemployed for exactly one month; one month later, they find new jobs andbecome employed. In addition, on January 1 of each year, 20 people lose their jobs and remainunemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose theirjobs and remain unemployed for 6 months before finding new jobs.1. What is the unemployment rate in this economy in a typical month?2. What fraction of unemployment spells lasts for one month? What fraction lasts for six months?3. What is the average duration of completed spell of unemployment?4. On a particular date, what fraction of the unemployed are suffering a long spell (six months) ofunemployment? plz solve part 4 ? Thanks.
- Suppose that 22 million people are employed, 2 million people are unemployed, and 44 million people are 15 years of age or older. Which of the following statements is true? OA. The size of the labour force is 22 million. OB. The unemployment rate is 20%. OC. The labour force participation rate is 54.5%. O D. The unemployment rate is 2%.Between January 2012 and January 2019,U.S. employment increased by 17.3 million workers,but the number of unemployed workers declined byonly 6.3 million. How are these numbers consistentwith each other? Why might one expect a reductionin the number of people counted as unemployed tobe smaller than the increase in the number of peopleemployed?a) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…
- a) State whether the following are true or false and explain why. i. Frictional and structural unemployment are two words for the same thing.ii. If an economy is at full employment, the unemployment rate is zero.The attached table gives information about population , labor force , and employment in a hypothetical country Richland . The percentage unemployment rate (%) in this country frounded to the nearest integer ) is 20% O. True O. FalsePlease no written by hand solutions Suppose that the markup of goods prices over marginal cost is 5%, and that the wage-setting equation is W= P(1-u), where u is the unemployment rate. a. What is the real wage, as determined by the price-setting equation? b. What is the natural rate of unemployment? c. Suppose that the markup of prices over costs increases to 10%. What happens to the natural rate of unemployment? Explain the intuition behind your answer.
- a) If a country's natural unemployment rate is 5.5 percent and its actual unemployment rate is 3.5 percent, what is its cyclical unemployment rate? ___________percent Instructions: Enter the value for the output gap as an absolute number. (PLEASE ANSWER THIS PART B) b) According to Okun's law, this country would have an expansionary output gap of _________percent.52No. 11. If the civilian noninstitutional adult population is 300 million, the number of employed persons is 132 million and the unemployed number 10 million, what is the unemployment rate and what is the labor force participation rate?Do solve both parts Suppose the labour force of an economy is equal to 1,000 and the unemployment on December 2010 is 0. Then, suppose that in January 2011 and every month that follows, 79 workers become unemployed for 1 month, 42 become unemployed for 2 months, 27 become unemployed for 3 months and 12 become unemployed for 15 months. 1. At the steady state, what is the unemployment rate? Answer in percentage rounded to the nearest first decimal. 2. What is the average duration in months at the steady state? Round to the nearest first decimal.