C) List and briefly explain the four types of unemployment: Briefly explain each. 1. 2. 3. 4. D) What are 4 objections that people raise about taxes? Give examples and explain in full sentences. 1. 2. 3. 4.
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- 1. if there is an increase of unemployment rate in the labor market, what would you recommend as a set of policies or programs to address such problems. Illustrate your recommendations geometrically (i.e., graphically).15. Which of the following statements is (are) correct? (x) Economists have found evidence that receiving unemployment- insurance benefits decreases the job-search effort of the unemployed. (y) We would predict that the more generous the unemployment compensation a country has, the longer the duration of each spell of unemployment, and the higher the unemployment rate. (z) A typical American worker covered by unemployment insurance receives 100 percent of their former wages for 26 weeks. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (x) only1. Social Security Checks on the Rise. The US government announced on October 14, 2020 that Social Security checks for all US seniors will rise by 5.8% in 2022, the largest increase since 2008. This cost of living adjustment (COLA) is based on the Consumer Price Index measure of inflation in 2021. a). Show with a graph and a model how, the full 5.8% increase will actually make a representative senior better off in 2022 as compared to 2021. 2. If lifespan projections are roughly correct, it is expected that our 52 million current seniors over age 65 is expected to rise by 60% over the next 25 years to about 80 million seniors. Medicaid, Medicare and Social Security are currently 12% of GDP, but expected to rise to 17% of GDP by year 2044. b). Could this enormous increase in spending on seniors have an effect on either US market efficiency or productivity in as we move toward the year 2044?
- 11) Explain what is meant by ‘involuntary unemployment’ and how economists from different schools of thought might address it?1. How does an increase in unemployment negatively affect our government?5) The United States has an unemployment compensation program that provides income for those out of work. In this case, unemployment is not a problem, because the unemployment compensation program is not available to workers in all occupations until they find another job. still a problem, because the unemployment compensation program merely gives the unemployed enough funds for basic needs. still a problem, because the unemployment compensation program is not available to workers in the service occupations. not a problem, because the unemployment compensation program gives the unemployed enough funds for basic needs.
- No Plagirism Please! 15. Formulate reasons as to why a recession might occur. Then, hypothesize how total economic output and prices will behave in the years following the recession. 16. Explain the three main types of unemployment experienced within an economy. Provide at least one example demonstrating each type of unemployment8 The economy has part time workers of 20 million people, and full time workers of 140 million people. There are 5 million who have no job and search for one. Lastly, 5 million who have no job but stop searching while waiting for a positive mood in the economy. The unemployment rate in the economy is (Your answer should include the first decimal point if there is.) Your Answer: %. AnswerCraigburg has a working age population of 20 million. Of those, 11 million are employed and 1 million are unemployed. The unemployment rate is ________ and the participation rate is __________. Question options: a) 5%; 55%. b) 8.3%; 55%. c) 5%; 60%. d) 8.3%; 60%. In November 2010 the labor force in Siouxtown, was 14,800. There were 14,483 persons employed. The local unemployment rate: Question options: a) was 1.2%. b) was 7.1%. c) was 5.6%. d) was 2.1%.
- Problem 2. The population of the economy is equal to 100. Forty percent of the population are not in the labor force. Six percent of the population are unemployed. 1. What is the unemployment rate in this economy? 2. Suppose that the number of people out of the labor force is constant, so that all movements in the labor market are between employment and unemployment. The share of the unemployed who find employment is equal to 18% in each period, and the share of the employed who lose their jobs is equal to 2% in each period. According to the bathtub model, what is the natural rate of unemployment? 3. The government considers a law that would raise the cost of firing workers. As a result, the job separation rate is expected to decline to just 1% per period. However, the law makers are worried about a potential side-effect of the policy: firms might become less willing to hire people leading to a decline in the job finding rate. How much should the job finding rate decline in order to…Prepare a line graph from the table below and answer the following question. (i)What trends do you observe in the unemployment rate? In economic growth? (ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. (iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer. 2016 2017 2018 2019 2020 Unemployment rate 4.12 3.75 3.38 3.14 4.31 Economic growth rate 2.23 2.68 1.08 1.05 -4.571). Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are “not in the labor force?” What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages. 2). If many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time. 3).If you are 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 greeter at Wal-Mart are you considered employed or not in the labor force?