Help Save &E The table below shows labour force information for a hypothetical economy, Assiniboia Finding Participation and Unenploynent Rates in Assinibois Total population 15 years and over Those 15 years and over not in the labour force population Morkers with part-time fobs Morkers with full-tine jobs Uneeployed meabers of the labour fore 2019 21 11lion 2020 21.4 willion 3.1 million 3.0million 1.75 illior 10.3 willion 500,000 2.00 million 10.4 million 350,000 a. Calculate Assiniboia's labour force population, labour force, participation rate, and official unemployment rate in 2019. Then calculate values for the same variables in 2020. Enter your responses rounded to t decimal place 2019 2010 Labour Force Population nillion million Labour Force alllion alllion Participation Rate official Unenploynent rate b. Has Assiniboia's official unemployment rate risen or fallen between 2019 and 2020? Has the number of unemployed memibers of the workforce risen or fallen during this same period? Assiniboia's official unemployment rate Click to select) Number of unemployed members of the workforce (Click to seloct)

Help Save &E The table below shows labour force information for a hypothetical economy, Assiniboia Finding Participation and Unenploynent Rates in Assinibois Total population 15 years and over Those 15 years and over not in the labour force population Morkers with part-time fobs Morkers with full-tine jobs Uneeployed meabers of the labour fore 2019 21 11lion 2020 21.4 willion 3.1 million 3.0million 1.75 illior 10.3 willion 500,000 2.00 million 10.4 million 350,000 a. Calculate Assiniboia's labour force population, labour force, participation rate, and official unemployment rate in 2019. Then calculate values for the same variables in 2020. Enter your responses rounded to t decimal place 2019 2010 Labour Force Population nillion million Labour Force alllion alllion Participation Rate official Unenploynent rate b. Has Assiniboia's official unemployment rate risen or fallen between 2019 and 2020? Has the number of unemployed memibers of the workforce risen or fallen during this same period? Assiniboia's official unemployment rate Click to select) Number of unemployed members of the workforce (Click to seloct)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 1P

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Similar questions

Are U.S. unemployment rates distributed evenly across the population?
What criteria do the BLS use to count someone as employed? As unemployed?
Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are not in the labor force? What are the proportions of employed, unemployed and nut in the labor force in the population? Hint: Proportions ate percentages.
What is structural unemployment? Give examples of structural unemployment.
Why is there unemployment in a labor market with flexible wages?
Is it desirable to eliminate natural unemployment? Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
Is a decrease in the unemployment rate necessarily a good thing for a nation? Explain.
While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other wands, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?
What is frictional unemployment? Give examples of frictional unemployment.
Whose unemployment rates are commonly higher in the U.S. economy: Whites or nonwhites? The young or the middle-aged? College graduates or high school graduates?
Structural unemployment is sometimes said toresult from a mismatch between the job skills thatemployers want and the job skills that workers have.To explore this idea, consider an economy withtwo industries: auto manufacturing and aircraftmanufacturing.a. If workers in these two industries requiresimilar amounts of training, and if workers atthe beginning of their careers can choose whichindustry to train for, what would you expect tohappen to the wages in these two industries? Howlong would this process take? Explain.b. Suppose that one day the economy opens itselfto international trade and, as a result, startsimporting autos and exporting aircraft. Whatwould happen to the demand for labor in thesetwo industries?c. Suppose that workers in one industry cannot bequickly retrained for the other. How would theseshifts in demand affect equilibrium wages both inthe short run and in the long run?d. If for some reason wages fail to adjust to the newequilibrium levels, what would occur?
Most of the jobs that were added to the American economy over the past thirty years were in which of the followingsectors?a. service and white-collarb. manufacturingc. miningd. skilled blue-collar