Foundations of Economics - With MyEconLab
8th Edition
ISBN: 9780134641720
Author: BADE
Publisher: PEARSON
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Chapter 22, Problem 7SPPA
To determine
To explain:
The type of
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- The U.S. unemployment rate increased from 4.6 in July 2001 to 5.9 by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? My?arrow_forwardMany college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?arrow_forwardUsing the definition of the unemployment rate, is an increase in the unemployment rate necessarily a bad thing for a nation?arrow_forward
- Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?arrow_forwardUnder what condition would an increase in the unemployment rate be a positive sign?arrow_forwardUnder what condition would a decrease in unemployment be bad for the economy?arrow_forward
- What term describes the remaining level of unemployment that occurs even when the economy is healthy?arrow_forwardWhat forces create the natural rate of unemployment for an economy?arrow_forwardAssess 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.arrow_forward
- 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.arrow_forwardUsing the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?arrow_forward
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