Unemployment generally during recessions and during expansions. Select one: O a. falls; falls O b. rises; rises O C. rises; falls O d. falls; rises
Q: Which of these words do not belong to the group? O a. National income O b. Local culture O c. Price…
A: Local culture is not part of macroeconomics.
Q: Inflation Unemployment If the Phillip curve shows that unemployment is low and inflation is high in…
A: Philips curve is a curve that shows inverse relationship between unemployment and inflation. If…
Q: Turkey produces pigs, and all of them are exported to Germany. If the price of pigs decreases, for…
A: Comparison of a basket(fixed) of goods/services and its prices, to the same basket in a year base,…
Q: Suppose that the demand for the Dates and supply of the Dates in Ramadan both are declined by equal…
A: Demand is an economic concept that tells us that demand of goods and services is indirectly related…
Q: People base their labor supply on the because they care about Select one: O a real wage; what their…
A: Answer to the question is as follows :
Q: Which of the following statements is true? O a. A college degree does not influence the earnings of…
A: The correct option is The median pay of economics majors increased more in dollar terms than any…
Q: How is the value of the marginal product of labour calculated? Select one: O a. by multiplying the…
A: Value of marginal product of labor =Marginal product of labor * price of the product.
Q: Job search is defined as O A. equivalent to job rationing. O B. attending school to increase your…
A: Job search is defined as an activity of looking for an acceptable, vacant job. Option A is incorrect…
Q: Read the statements VERY carefully! Which of the following statements is true? According to Okun's…
A: When product is put into the production process, cost such as fixed and variable cost would be…
Q: Name the four factors of production and the incomes they earn. The factor of production and the…
A: Factors of productions are referred to as those inputs which are used in the process of production…
Q: QUESTION 20 An imaginary economy of Fruitsland has the following data: Adult Population = 50 million…
A: Labor force Participation Rate = (labor force/ working age population) × 100 Unemployment rate =…
Q: According to the data above, cyclical unemployment is 0% O A. Ò B. 2.38% OC. O C. 5.55% 6.25% O D.
A: The unemployed is the number of people which would result in the number of people unemployed to the…
Q: Macroeconomics approaches the study of economics from the viewpoint of O A. Govermmental units B.…
A: Economics is the study of people's behaviour in allocating resources for the production of goods and…
Q: Which of the following statements is true?
A: Okun's law is related to Yale economist Okun, who observed that there exist a negative relationship…
Q: 10%, the participation rate 60 percent, 200 million people 16 years or older are not in the labor…
A: Labor force consists of employed and unemployed workers. Employed workers are those who are involved…
Q: Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a…
A: Note: Due to multiple questions being posted, the first question has been answered as per strict…
Q: a) Draw original budget constraint (with a $500 DI benefit) and the budget constraint under…
A: the social security disability insurance(DI) program was restructured so that the disabled could get…
Q: What is the impact on the labour market due to a reduction the productivity of workers? Select one:…
A: We know that, When the productivity of workers increases at any given wage rate the firms demand…
Q: What is the impact on the labour market due to a religious law which prevents omen from working?…
A: (1). If a religious law prevents women from working then women will no longer be included in the…
Q: The Law of variable proportion describes three stages of production. In the first stage of…
A: According to the variables proportion in the first stage the total production increases at the…
Q: When a higher fraction of people work in creating new technologies, output falls. O True O False
A: The economics as a study is based upon the idea that the amount of resources which each society, or…
Q: Please, read the below small cases. All of them are related with Machboos. Answer questions for each…
A: When the price of input goods falls, we have decline in the cost of production. This increases…
Q: 1 Microeconomics deal with a) O General price level b) O Individual consumer behaviour c)O…
A: Meaning of Economics: The term economics refers to the situation under which there remain…
Q: Price level (GDP price index, 2009 = 100) Potential AS2 GDP ASI Real GDP (trillions of 2009 dollars)…
A: The aggregate supply curve shows the total quantity of output - real GDP - that firms will produce…
Q: Assume that in the population, 95 millic people worked for pay last week, 5 milli people did not…
A: Labor force is the sum of people who are employed and unemployed. Employed are those people who are…
Q: Which of the following statements is true? According to Okun's law: Select one or more: O a.…
A: Okun's Law: Okun's Law explains the relationship between output growth and change in the…
Q: An unemployment rate of 10% means that the average worker has been unemployed for 10% of the year.…
A: In economics, the unemployment rate is a concept which measures the fraction of individuals in the…
Q: Diagram SD1 SO $1 DO 01 DO 01 Quantity Quantity Quantity Quantity Graph A Graph B Graph C Graph D…
A: The rise in the productivity shifts the supply curve to the right.
Q: A.Explain why newly posted job vacancies are not filled instantly when there is unem ployment?
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: Unemployment implies that in the labor market Select one: O a. there are too few workers for the…
A: Unemployment is a key economic indicator because it signals the ability (or inability) of workers to…
Q: d) Solve numerically for quantity produced and labor and capital demanded when v = 1, w = 1. e) What…
A: In economics, a CF {"cost function"} is described as a function of an output quantity and P {prices}…
Q: (Technological Change) Does technological change create unemployment? What’s the evidence?
A: Unemployment is a social evil that prevails in almost all the countries of the world. Unemployment…
Q: Job search is the activity of looking for job. O A. a permanent full-time B. an acceptable vacant…
A: Job search is the process of looking job for the unemployed or under employed person in order to…
Q: If there are sticky wages, and the price level goes up the next period, then Select one: a. wage are…
A: Sticky wages refers to a situation when wages moves slowly in comparison to inflation.
Q: Carefully explain how the following hypothetical situations would affect the cost. benefit…
A:
Q: If the unemployment rate is the natu O A. greater than; decreasing O B. less than; decreasing O C.…
A: Suppose the unemployment rate is below the natural rate. We would expect to see: GDP above potential…
Q: In a given year, suppose a company spends $100 million on intermediate goods and $200 million on…
A: 6. Given information Value of intermediate goods used = $100 million Wages = $200 million Total…
Q: The real wage rate is $35 an hour. At this wage rate there are 100 billion labor hours supplied and…
A: The quantity of labor demanded is more than the quantity of labor supplied, thus there is a shortage…
Q: Q.4 Calculate (i) Laspeyre's (ii) Paasche's and (iii) Fisher's price index number for 2020 from the…
A: The price index of Laspeyres, Paasche's, and Fisher's are described as the formula of the index used…
Q: Which of the following is not a topicstudied in Macroeconomics? Select one: O a. gross domestic…
A: Answer Explanation Under macro economics, we studied about the performance of an economy as whole.…
Q: Chose the trrue statement. a. Sincce the mid 1800ss , Unitedd States of America has experienced…
A: The answer is - c. The Clarrk-Fisher hypothhesis implies that as productivity increases in one…
Q: Microeconomics focuses on all of the following EXCEPT the O a. Hiring decisions made by a business.…
A: The science that tends to deal with distribution, production, and consumption level of services and…
Q: College students sometimes work as summer interns forprivate firms or the government. Many of these…
A: a. Opportunity cost is the opportunity foregone upon picking this job. In the current case, students…
Q: QUESTION 3 Two inputs, labour (L) and capital (K) are used to produce a given output. The Marginal…
A: For a given level of output, the cost minimizing condition is given as: MPLMPK=wr ...(1) Here,…
Q: An individual over the age of 15 that does not have a job, is willing to work but has given up…
A: Unemployment has been a major concern for most countries over a period of time. The unemployment…
Q: In millions Civilian population 150 People incapable of working 20 People not looking for work 30…
A: Unemployment rate is the proportion of labor force which is looking for a job and are able to work.
Q: QUESTION 14 Which of the following is associated with macroeconomics? O A An examination of the…
A: Macroeconomics is a study of an economy as a whole. It includes studying general price level,…
Q: Output in the short run is determined by which of the following factors when an economy operates at…
A: When the economy operates at full employment, the supply will not be able to affect the output.
Q: A person may become unemployed as a result of cutbacks in a business's production. O True O False
A: Cutbacks in a business's production leads to less production of goods and services. due to which…
9
Step by step
Solved in 2 steps
- Item2 5points eBook Item 2 MC Qu. 29-70 (Algo) Refer to the accompanying data, which... Potential Real GDP $200 billion Natural Rate of Unemployment 6% Actual Rate of Unemployment 8% Refer to the accompanying data, which is for a specific year in a hypothetical economy for which Okun's law is applicable. The amount of output being forgone by the economy isQUESTION 6 P The natural rate of unemployment in the United States is around 8%. O True OFalsePlease, read the below small cases. All of them are related with Machboos. Answer questions for each of them The price of rise decreases. a. Which factor is this? b. What is changed: D, S, QD or QS? c. Draw the graph and show the change d. Show how EP and EQ will be changed
- Reductions in employment in the U.S. auto industry caused by the increased adoption of new technologies to produce cars more efficiently is an example of: Select one: r: B a. structural unemployment. The Metho onceptual O b. frictional unemployment. Reflectio Scenari OC. seasonal unemployment. loyment w and e Od cyclical unemploymentA positive oil shock: Suppose scientists discover a new way to extract oil fromdeposits that were previously thought to be unrecoverable. Te extra supply ofoil leads oil prices to decline by $5 per barrel. Explain the efect on wages, theemployment-population ratio, and unemployment—all for the overall economy.Business Economics Quiz: Week 5 Quiz This Question 5 of 20 (11 complete) The unemployment rate O A. shows the percentage of the population that is considered unemployed. C B- shows the percentage of the labor force that is considered unemployed. O C. is the amount of people in the population that are not working O D. is the amount of the labor force that is not working Suppose an economy is given by the following Population 258 million Labor force 161 million The number of people employed 154.6 million The number of people unemployed 6.4 million Given the information above. the unemployment rate is T% (Enter your response rounded to one decimal place)
- In 2019, a. what percentage of the labor force was employed? b. what percentage of the labor force was unemployed? c. what percentage of the total population was employed?How would an increase in the world price of oil affect the amount oI fricnal unemployment? Is this unemployment undesirable? What publicpolicies mighIt affect the amoufll of unemployment caused by this price change?can I have help understanding if it is decreasing or increasing or neither
- If the natural rate of unemployment was 6%, the current unemployment rate was 8%, and the potential GDP was $4,000 billion, then according to Okun's law the economy would have sacrificed ___ billion in output not produced. A. 160 B. 240 C. 360 D. 480While 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?The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the Producer Price index and the GDP deflator also subject to these biases? Why or why not?
