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Why is increasing this participation rate an important goal for national policymakers? What are two actions that policymakers could take to raise the labor force participation rate? Would this be an immediate effect or would it take years to observe a tangible change?

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Ritu Kharb
Ritu KharbLv5
28 Sep 2019

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Related questions

a. How do the changes in monetary and fiscal policy instruments affect you personally or work-wise? Policymakers who want to stabilize the economy must decide how much to change the money supply, government spending, or taxes. Why is it difficult for policymakers to choose the appropriate strength of their actions? Which method do you think is better in the long run? why?

b. Some economists and policymakers argue in favour of replacing the current income tax in the USA with a consumption tax. What are your opinions on the issue? How do you think such change impacts your income and expenditure pattern? Which tax method do you prefer income tax or consumption tax? why? What are the pros and cons of the two tax methods?

Consider a country with 300 million residents, a labor force of 150 million, and 10 million unemployed. Answer the following questions: (show your work for credit)

A. What is the labor force participation rate?

B. What is the unemployment rate?

C. If 5 million of the unemployed become discouraged and stop looking for work, what is the new unemployment rate?

D. Suppose instead that 30 million jobs are created and this attracts 20 million new people into the labor force. What would be the new rates for labor force participation and unemployment?

Studies indicate that the changes in fiscal and monetary policy affect the 3 economic agents in the economy (households, firms and government). How do the changes in monetary and fiscal policy instruments affect you personally or work-wise? Policymakers who want to stabilize the economy must decide how much to change the money supply, government spending, or taxes. Why is it difficult for policymakers to choose the appropriate strength of their actions? Which method do you think is better in the long run? Why? Some economists and policymakers argue in favor of replacing the current income tax in the USA with a consumption tax. What are your opinions on the issue? How do think such change impacts your income and expenditure pattern? Which tax method do you prefer- Income tax or consumption tax? Why? What are the pros and cons of the two tax methods?

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