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- What is frictional unemployment? Give examples of frictional unemployment.Are U.S. unemployment rates distributed evenly across the population?Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
- Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?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?What criteria do the BLS use to count someone as employed? As unemployed?
- How will each of the following affect the current level of full employment output?Explaina) A large number of immigrants enter the country.b) Energy supplies become depleted.c) New teaching techniques improve the educational performance of high schoolseniorsd) A new law mandates the shutdown of some unsafe forms of capital.the labor force population rate measures the percentage of people in the labor force who have a job. true of flaseAssess whether the following would be countedas “unemployed” in the Current Employment Statisticssurvey.a. A husband willingly stays home with childrenwhile his wife works.b. A manufacturing worker whose factory justclosed down.c. A college student doing an unpaid summerinternship.d. A retiree.e. Someone who has been out of work for two yearsbut keeps looking for a job.f. Someone who has been out of work for twomonths but isn’t looking for a job.g. Someone who hates her present job and isactively looking for another one.h. Someone who decides to take a part time jobbecause she could not find a full time position.
- Assess whether the following would be counted as “unemployed” in the Current Employment Statistics survey. a. A husband willingly stays home with children while his wife works. b. A manufacturing worker whose factory just closed down. c. A college student doing an unpaid summer internship. d. A retiree. e. Someonewhohasbeenoutofworkfortwoyears but keeps looking for a job. f. Someone who has been out of work for two months but isn’t looking for a job. g. Someone who hates her present job and is actively looking for another one. h. Someone who decides to take a part time job because she could not find a full time position.Female and Male labor force participation in the US have similar levels and have followed similar time-trends since 1950 in the United StatesA. TrueB. FalseExplain whether each of the following changes in the composition of the labor force is likely toaffect frictional or structural unemployment and increase or decrease the measured natural rate ofunemployment.(a) A “baby boom” causes an increase in the share of young workers (age 16–24) as a percentageof the labor force. (b) A loosening of federal restrictions on eligibility for disability benefits leads to an increase inthe number of people receiving disability payments