Please decide whether each of the following statements about the U.S. unemployme

Question

Please decide whether each of the following statements about the U.S. unemployment rate are true or false.

1. Unemplyment generally remains stable and static overtime

2. Changes in technology and new workers joining the workforce have contributed to the overall upward in the unemployment rate

3. The behavior of the unemplyment rate is related to the business cycle

4. Its very likely that an umemplyment rate of 0% will never be observed

5. The end of the 20th century saw some of the highest rates of unemployment in the US history

Explanation / Answer

Solution-

1. Unemplyment generally remains stable and static overtime.

This statement is False.

Reason-

Unemployment is actively seeking employment but is not currently employed. Unemployment rates are a measure as a percentage of unemployment, currently the number of unemployed persons is calculated by dividing the number of people in the labor force.It is not stable and statice, it changes when labour force or unemployed person increase or decrease or sometimes changes in technology increase demand for labour market.

2. Changes in technology and new workers joining the workforce have contributed to the overall upward in the unemployment rate.

This statement is False.

Reason-

There are many reasons that affects unemployment rate such as demand for labour market, increase in demand of goods and services, foreign trade etc.

3. The behavior of the unemplyment rate is related to the business cycle.

This statement is True.

Reason-

The business cycle is the decrease and increase in production and economic growth which occurs from time to time. This cycle is a useful tool for analyzing the economy. It can also help you make better financial decisions.hence, The behavior of the unemplyment rate is related to the business cycle.

4. Its very likely that an umemplyment rate of 0% will never be observed.

This statement is True.

Reason-

Its very likely that an umemplyment rate of 0% will never be observed because of business cycle.The business cycle is the decrease and increase in production and economic growth which occurs from time to time and the main reason is Increase in Poppulation.

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