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Unemployment Assignment | Homework For You

Author:
October 19th, 2019

Problem set 2 (chapters 7 & 8)

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1) A country with a civilian population of 120,000 (all over age 16) has 100,000 employed and 12,000 unemployed persons. Of the unemployed, 7,000 are frictionally unemployed and another 2,000 are structurally unemployed. On the basis of this data, answer the following questions: (show your work for credit)Homework For You

  1. what is the size of the labor force?
  2. What is the unemployment rate?
  3. What is the natural rate of unemployment for this country?
  4. Is this economy in recession or expansion? Explain.

2) Visit www.bls.gov and search through the tables on unemployment to answer the following questions

  1. What is the current national unemployment rate for the United States?
  2. What is the current national unemployment rate for teenagers?
  3. What is the current unemployment rate for adult women?

3)   Consider a country with 200 million residents, a labor force of 170 million, and 10 million unemployed. Answer the following questions: (show your work for credit)

  1. What is the labor force participation rate?
  2. What is the unemployment rate?
  3. If 3 million of the unemployed become discouraged and stop looking for work, what is the new unemployment rate?

4) In 1991, the Barenaked Ladies released. Get Economics homework help today

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