o.me US ecovornylg gereal onsded to be at emplbymort unen! a. 10 to 20 percent o
ID: 1115462 • Letter: O
Question
o.me US ecovornylg gereal onsded to be at emplbymort unen! a. 10 to 20 percent of the labor force is unemployed. b. 90 percent of the total population is employed. c 90 percent of the labor force is unemployed d. About 5 to 6 percent of the labor force is unemployed 11. The slight increase in the natural rate of unemployment during 1970's resulted from a. Oil shocks b. Inflation c. Government deficits. d. Baby boom gencration. 12. Assume natural rate of unemployment in our economy is 5% and the actual rate of unemployment rate is 9.5%. I low m uch percent does unemployment rate decrease to allow this economy to achieve full-employment production? 4.5% h.7% c.9% d, 9,5% 13. Anne Brown works in her own home as a part-time carctaker and homemaker, and works in Burger King as a part-time. Officially she is a. not in the labor force. b. unemployed. c. underemployed. d. Employed. 14 If the natural rate of unemployment is 5% and the cyclical unemploment rate is 4% then the frictional unemployment rate is 9%, b. Employment rate is 90%. Unemployment rate is 9%. Natural rate of unemployment will increase in the near future. c. d. 15. Assume Smith is unemploy ed because his job skill does not match the skill that employers of his concern require. Smith would be considered as a. cyclically unemployed. b. Frictionally unemployed c. Temporarily unemployed. d. Structurally unemployed. 16. Suppose that a person's nominal income rises from $10.000 to $15.000 and the Consumer Price Index rises from 100 to 150. The person's real income will: a. fall by about 20%. b. Fall by about 5%. C. Rise by about 5%. d. Remain unchanged. 17. Cost-push inflation: a. is caused by excessive total spending. c. moves the cconomy shifting toward its production possibilities curve d. is caused by the increase in the cost of production factorsExplanation / Answer
10.
D
The unemployment rate in the USA economy is around 5% to 6% that is equal to the natural rate of unemployment. So, it is said that US economy is operating at full employment. Economy at full employment will have only natural rate of unemployment.
11.
D
It is the baby boom generation that led to the slight increase in the natural rate of unemployment.
12.
A
The 5% natural unemployment rate will always be there in the economy. So, only 9.5% - 5% = 4.5% of unemployment rate needs to be come down to achieve the economy at full employment.
13.
D
The official employment rate formula in the USA also include the part time workers as employed workers. Accordingly, Anne is employed.
14.
C
Total unemployment rate = natural unemployment rate + cyclical unemployment rate
Total unemployment rate = 5% + 4% = 9%
Here, the natural rate of unemployment is the sum of structural and frictional unemployment.
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