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- Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret. a.True b.FalseAlthough the unemployment rate is not a perfect measure (failing to account for potential increases in discouraged or underemployed workers), it remains a key indicator of a nation’s economic health. While Germany now enjoys a healthy unemployment rate of only 3.6% as of December 2017, the labor market has not always been booming in this European country. For example, as recently as 2005, German unemployment accounted for nearly 10% of the labor force. There are many factors that contributed to the turnaround of Germany’s labor market over the last decade, including wage decentralization and increased competitiveness according to an article from the Harvard Business Review (Alexandra Spitz-Oener, “The Real Reason the German Labor Market Is Booming,” March 13, 2017). However, one of the most well-known policy changes of the early 21st century was the Hartz reforms, which included a sharp decrease in unemployment benefits that altered the incentives of unemployed workers. Before the…There is an on‐going debate on how unemployment benefits affect the unemployment rate. In the context of the Mortensen‐Pissarides model, unemployment benefits are represented by the variable b. Explain carefully how an increase in b affects each equilibrium condition (Beveridge curve, vacancy supply condition, and wage setting curve.) How is the steady‐state unemployment rate impacted by an increase in b? Use the simulation tool here, https://www.briancjenkins.com/dmp‐model/simulation‐tool.html, to check your answer.
- When most workers are classified as not being in the labor force, when in reality they are actively searching for work, then the unemployment rate will be Group of answer choices Either understated or overstated Neither understated nor overstated Understated OverstatedSuppose the population of a fictional economy falls into the following categories: 28 million are retired or homemakers; 30 million have full-time employment; 24 million have one part-time job; 28 million have two part-time jobs; 12 million do not have employment, but are actively looking for employment; and 20 million would like employment but do not have employment and are not actively looking for employment. 5 million are under the age of 10. a. Calculate the official unemployment rate (as a percentage, not decimals) as calculated by the U.S. Bureau of Labor Statistics. Round your answer to two decimal places.Discuss two methods that can be used to determine the full-employment rate of unemployment and what they suggest for the relationship between inflation and unemployment.
- If discouraged workers are included in the determination of the unemployment rate, what effect will it have on the computed rate? Group of answer choices It will lower it because it will reduce the number of unemployed. It will raise it because there are always discouraged workers. There is no relationship between discouraged workers and the unemployment rate determination. There will be no impact.Suppose we have the following labor survey data: 100,000 people in the civilian, non-institutionalized population sample, 80,000 of these in the labor force, 76,000 of these people employed. What is the unemployment rate in this sample? Group of answer choices a) 5% b) 8% c) None of the other options. d) 7.6% e) 4%Question 12 When gross domestic product (GDP) increases, national income _________ and national output __________. is unaffected; is unaffected increases; increases decreases; decreases increases; is unaffected is unaffected; decreases Question 13 Which of the following are types of unemployment? frictional, structural, and practical practical, structural, and cyclical frictional, rational, and structural cyclical, practical, and natural frictional, structural, and cyclical Question 14 An example of a person who is not in the labor force is someone who is unemployed. under the age of 16. employed on a part-time basis. already employed or actively seeking work. already employed on a full-time basis.
- Assume that the government decides to count discouraged workers in the official statistics. Which of the following would follow from that decision? A. The number of employed would rise B. The number of unemployed would rise C. The labor force participation rate would fall D. Nothing would happen because discouraged workers are already counted in the official statisticsWhat 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?What are the major intiatives taken by the governments in Europe to tackle the impacts of increased inflation due to war in Ukraine? And how has such steps performed? Provide a detailed answer with statistics.