On Coral Island in 2019, the labor force is 12,000, the unemployment rate is 10 percent, and the labor force participation rate is 60 percent. During 2020, the working-age population increased by 1,000, 200 unemployed people found jobs, but the labor force did not change.
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- What type of unemployment (cyclical, frictional, or structural) applies to each of the following: landscapers laid off in response to a drop in new housing construction during a recession. coal miners laid off due to EPA regulations that shut down coal fired power a financial analyst who quits his/her job in Chicago and is pursing similar work in Arizona printers laid off due to drop in demand for printed catalogues and flyers as firms go the internet to promote an advertise their products. factory workers in the U.S. laid off as the plants shut down and move to Mexico and Ireland.Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say 10, versus low, say 4? Explain.What are the two biggest recessions in terms of length and magnitude from the graph, the shaded areas show recession and 2020 is not included? How does the unemployment rate react during the two main recessions you have identified? What was the level of the unemployment rate during the first and the last quarter of negative growth for those two recessions? why data for France for 1980s is not avaliable What do you conclude about the link between recession and the variation in unemployment?
- 3- What type of unemployment (cyclical, frictional, or structural) applies to each of the following: landscapers laid off in response to a drop in new housing construction during a recession. coal miners laid off due to EPA regulations that shut down coal fired power a financial analyst who quits his/her job in Chicago and is pursing similar work in Arizona printers laid off due to drop in demand for printed catalogues and flyers as firms go the internet to promote an advertise their products. factory workers in the U.S. laid off as the plants shut down and move to Mexico and Ireland.The town of Villageton has 500 residents, of which 300 are employed, 30 are not working but actively seeking work, 70 are children in school, 40 are retirees, 30 are full-time college students, 20 are institutionalized, and 10 are discouraged workers. Calculate the unemployment rate in Villageton. Suppose 10 of the 30 college students graduate and enter the labor force actively seeking work, but only 5 find a job. How does this change the unemployment rate in Villageton? Is this economy “fully-employed” according to the U.S. definition? Why or why not? How would the “U6” definition of unemployment differ from your answer to question #2a? Would it be higher or lower? Calculate the labor force participation rate (LFPR) using the numbers above.The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of people discouraged workers 2 million Would the number of people employed part-time be included in labour force or not? Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?
- Suppose the number of employed people in Pakistan is 20.5 million. The unemployment rate in this economy is 8.8 percent, and the labor force participation rate is 65 percent. What is the size of the labor force and working-age population? How many people are unemployed? Explain and analyze different government policies which affect the unemployment rate in Pakistan? ( Maximum 200 words). Before June 2020, the labor market in Pakistan was at equilibrium with an equilibrium wage (WE) of Rs. 15,000 and equilibrium quantity of labor (LE) 10 million. In the last week of June, 2020, government of Pakistan imposed a minimum wage Act raising the minimum wage to Rs. 20,000. Using a graph, explain the effect of imposition of minimum wage on unemployment in labor market of Pakistan .19 If the economy is at full employment, which of the following is true? Group of answer choices There is no cyclical unemployment. There is zero unemployment. There is no structural unemployment. There is no frictional unemployment.In response to the covid-19 pandemic, many governments responded by an economic stimulus package to mitigate the negative impact of the pandemic on affected families. Changes in economic policies will frequently have an impact on the unemployment rate. Explain whether each of the policy changes described is likely to: (1) affect frictional or structural unemployment and (2) increase or decrease the measured unemployment rate.a) An increase in the number of weeks of employment insurance that unemployed workerscan receive. b) An increase in the minimum wage rate a) The government introduced new job-training programs to help people who lost their jobs in the affected sectors switch to other sectors.
- Consider a country with 300 million residents, a labor force of 150 million, and 10 million unemployed. Answer the following questions. If 5 million of the unemployed become discouraged and stop looking for work, what is the new unemployment rate? Suppose instead that 30 million jobs are created, attracting 20 million new people into the labor force. What would be the new rates for labor force participation and unemployment?The table below shows unemployment and labor force statistics for an economy. a: Calculate the size of the labor force. b: Calculate the labor force participation rate. c: Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. d: Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. e: Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same? Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of people discouraged workers 2 millionYermo, California, has a labor force of 5,000 persons and employment of 4,100. The unemployment rate for the city is? (Please specify answer in percentage. If answer is .06, then convert to percentage and enter 6. NO NEEDT TO ENTER % OR PERCENT SIGN. Convert answer by either moving decimal point two places to the right or multiplying by 100),
