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- 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?The absence of cyclical unemployment means the economy is at the natural unemployment rate. O True False QUESTION 2 The unemployment rate measures the percentage of the working-age population who can't find a job. O True FalseWhen is the economy at the natural rate of unemployment? Select one: O a. All of these choices are correct O b. When everyone in the economy who wants to work is working O c. When the only kinds of unemployment are frictional, structural, and cyclical O d. When everyone in the economy is working Oe. When the only people who want to work and are not working are frictionally unemployed people who are not willing to work unskilled jobs while they search, and structurally unemployed people who are not willing to work unskilled jobs while the get new skills O f. None of these choices are correct
- Go to http://www.bls.govicps/ LFind the national unemployment rate for June 2021 % you must know this rate for the Final Exam. . Has the national unemployment rate increased, dereased or remained the same since January 20217 (Cick on the icon next to the current unemployment rate to see the historical data) O A. Increased O B. decreased O C. remained the same L What is the highest unemployment rate we have experienced since 20097 Click on the icon next to the current unemployment rate to see the historical data . Find the civilian Labor Force Participation Rate for June 2021:O E. 10 million. Diane lost her job and immediately started looking for another job. As a result the Lütfen birini seçin: O A. unemployment rate remains constant. O B. labor force decreases. O C. unemployment rate increases. O D. labor force remains constant O E. labor force increases. SONRAKWhen does the amount of job-search unemployment increase? The amount of job-search unemployment increases when O A. the efficiency wage rate rises B. a demographic shock decreases the rate of entry into the working-age population O C. a prolonged structural slump occurs D. unemployment compensation decreases O O
- 11) Despite known problems in the method of calculating the unemployment rate, the approach is rarely changed in order to preserve data compatibility. O True O False 12) At this monient in time the U.S. economy has deflation. O True O False 13) If a person is classified as unemployed by the BLS, then that person is not in the labor force. O True O False 14) If aggregate supply increases and the results persist for at least six months, then the economy will have stagflation. O True O False 15) A decrease in the price level causes a decrease in the purchasing power of money. This helps to explain why the aggregate demand curve slopes down. 16) O True O False It is known that the method used by the BLS to calculate the U3 unemployment rate blases the results. All of the biases tend to cause the reported U3 statistic to be lower than what it really is. O True O Falseon 17 of 17 > O Macmillan i Unemployment and ination-End of Chapter Frooiem The accompanying diagram shows the inflation rate in the United Kingdom from 1980 to the present. FRED-Inflation, consumer prices for the United Kingdom 20.0 175 12.5 10.0 7.5 S.O 2.5 0.0 1985 Source World Bank 1990 Between 1980 and 1985, 1995 O unemployment likely rose. unemployment likely fell. Othere is no way of determining how unemployment changed. Inflation above 2% is harmful 2005 2010 Customize | Download Data FRED-Economic Data from the St. Louis Fed a. Between 1980 and 1985, policymakers in the United Kingdom worked to lower the inflation rate. What would you predict happened to unemployment between 1980 and 1985? 2015 3030 b. Policy makers in the United Kingdom react forcefully when the inflation rate rises above a target rate of 2%. Why would it be harmful if inflation rose from 1.7% (the level in 2019) to, say, a level of 5%? O only if the inflation rate rises above the unemployment rate. O because….ull T-Mobile ? * 2:21 AM @ O 5% 4 A myopenmath.com How to calculate the inflation rate for food, 1913-2021 Start with the inflation rate formula: CPI in 2021/CPI in 1913 * 1913 USD value = 2021 USD value Then plug in historical CPI values from above. The CPI for Food was 9.923 in the year 1913 and 270.938 in 2021: 270.938/9.923 * $20 = $546.08 Therefore, according to the U.S. Bureau of Labor Statistics, $20 in 1913 has the same "purchasing power" as $546.08 in 2021 (in the CPI category of food). Use the highlighted info above to answer each question below. Round appropriately to the context. a. The absolute change in the cost of food from 1913 to 2021 was | 261.01 2$ Calculation: 261.015 b. The rate of change in the cost of food from 1913 to 2021 was $/year
- Consider an economy with 500 people in the labor force. At the beginning of every month, 5 people losetheir jobs and remain unemployed for exactly one month; one month later, they find new jobs andbecome employed. In addition, on January 1 of each year, 20 people lose their jobs and remainunemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose theirjobs and remain unemployed for 6 months before finding new jobs.1. What is the unemployment rate in this economy in a typical month?2. What fraction of unemployment spells lasts for one month? What fraction lasts for six months?3. What is the average duration of completed spell of unemployment?4. On a particular date, what fraction of the unemployed are suffering a long spell (six months) ofunemployment? plz solve part 4 ? Thanks.Suppose the unemployment rate increases. If at the same time we observe the labor force participation rate decreasing, we can conclude that The labor force participation rate is falling for a bad reason O The unemployment rate is increasing for a bad reason O The unemployment rate is increasing for a good reason O The labor force participation rate is falling for a good reasonWhich of the following statements below is true in terms of unemployment and a healthy economy? O Full employment in an economy means that every adult who is not in school is employed. O Full employment means having some cyclical employment. Full employment in an economy means that the entire labor force is employed. O The natural rate of unemployment is 5%, according to most economists.