ECO 1002 Lecture Notes - Lecture 5: Discouraged Worker, Nairu, Full Employment

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ceruleanhippopotamus105

28 Sep 2016

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Working-age population spilt into working class and kids 16 or younger. If you are not working and have not been looking for a job in 4 weeks. Unemployment rate: (unemployed people divided by the labor force) times 100: rate increase in a recession and reaches its peak value after the recession ends. The labor force participation rate: (labor force divided by working age population) times 100: in june 2014, 248 million (one of the lowest) From 1975 to 2007 it went up because there were more woman in the workforce. 2007 to present day it went down because of an increased use of technology. 99 week benefit stopped unemployment rate went down (they weren"t getting money) U-6: discouraged worker (rate of unemployment + those who are discouraged (not looking but will take a job, those part-time workers who want a full-time job)) (9%) In official stats workers are called economic part time workers and they are partly unemployed.

Related Questions

1) The working-age population includes

A) those in jails and hospitals.

B) youngsters between the ages of 14 and 16 if they are working at least part time.

C) employed and unemployed people over the age of 16.

D) only employed people over the age of 16.

E) people over the age of 16 who are in the Army.

2) The labor force includes people who

i.are less than 16 years of age.

ii.are in institutions.

iii.are actively seeking a job but do not have a job.

A) i only

B) i and iii

C) i and ii

D) iii only

E) i , ii, and iii

3) Assume the U.S. population is 275 million. If 210 million people are of working age, 135 million are employed, and 6 million are unemployed, what is the size of the labor force?

A) 275 million

B) 141 million

C) 135 million

D) 210 million

E) 204 million

4) The unemployment rate is the number of people unemployed divided by the

A) population, then multiplied by 100.

B) labor force participation rate, then multiplied by the population.

C) labor force, then multiplied by 100.

D) number of people employed, then multiplied by 100.

E) working-age population, then multiplied by 100.

5) Suppose the population is 220 million people, the labor force is 150 million people, the number of people employed is 130 million, and the working-age population is 175 million people. What is the unemployment rate?

A) 9.0 percent

B) 13.3 percent

C) 11.4 percent

D) 15.4 percent

E) 20 percent

6) Suppose the working-age population is 220 million, the labor force is 150 million, and the unemployment rate is 10 percent. The number of unemployed people is

A) 15 million.

B) 22 million.

C) 37 million.

D) 7 million.

E) 70 million.

7) The labor force participation rate is the

A) labor force divided by the working-age population, then multiplied by 100.

B) number of people employed divided by the labor force, then multiplied by 100.

C) labor force divided by the population, then multiplied by 100.

D) discouraged workers divided by the labor force, then multiplied by 100.

E) number of people employed divided by the population, then multiplied by 100.

8) If the number of employed people is 150 million, the number of unemployed people is 50 million, and the working-age population equals 285 million people, the labor force participation rate is

A) 70.2 percent.

B) 81 percent.

C) 17.5 percent.

D) 25 percent.

E) 52.6 percent.

9) A discouraged worker is

A) a person who is not happy with his or her job.

B) someone who works part time but wants full-time work.

C) someone who is asked to work overtime everyday.

D) someone who does not have a job but has given up looking.

E) another name for an unemployed worker.

coppermarten219

1) The working-age population includes

A) those in jails and hospitals.

B) youngsters between the ages of 14 and 16 if they are working at least part time.

C) employed and unemployed people over the age of 16.

D) only employed people over the age of 16.

E) people over the age of 16 who are in the Army.

2) The labor force includes people who

i. are less than 16 years of age.

ii. are in institutions.

iii. are actively seeking a job but do not have a job.

A) i only

B) i and iii

C) i and ii

D) iii only

E) i , ii, and iii

3) Assume the U.S. population is 275 million. If 210 million people are of working age, 135 million are employed, and 6 million are unemployed, what is the size of the labor force?

A) 275 million

B) 141 million

C) 135 million

D) 210 million

E) 204 million

4) The unemployment rate is the number of people unemployed divided by the

A) population, then multiplied by 100.

B) labor force participation rate, then multiplied by the population.

C) labor force, then multiplied by 100.

D) number of people employed, then multiplied by 100.

E) working-age population, then multiplied by 100.

A) 9.0 percent

B) 13.3 percent

C) 11.4 percent

D) 15.4 percent

E) 20 percent

6) Suppose the working-age population is 220 million, the labor force is 150 million, and the unemployment rate is 10 percent. The number of unemployed people is

A) 15 million.

B) 22 million.

C) 37 million.

D) 7 million.

E) 70 million.

7) The labor force participation rate is the

A) labor force divided by the working-age population, then multiplied by 100.

B) number of people employed divided by the labor force, then multiplied by 100.

C) labor force divided by the population, then multiplied by 100.

D) discouraged workers divided by the labor force, then multiplied by 100.

E) number of people employed divided by the population, then multiplied by 100.

8) If the number of employed people is 150 million, the number of unemployed people is 50 million, and the working-age population equals 285 million people, the labor force participation rate is

A) 70.2 percent.

B) 81 percent.

C) 17.5 percent.

D) 25 percent.

E) 52.6 percent.

9) A discouraged worker is

A) a person who is not happy with his or her job.

B) someone who works part time but wants full-time work.

C) someone who is asked to work overtime everyday.

D) someone who does not have a job but has given up looking.

E) another name for an unemployed worker.

silvergnu415

1. Unemployment Rate = 10%

# Employed = 180 Million

# Working age population = 250 Million

-Calculate:

# Unemployed

# Labor Force

# Not in the Labor Force Labor Force Participation Rate

2. Assume current unemployment is 10%

A) Calculate cyclical unemployment.

B) Is it possible for cyclical unemployment to be negative? Explain

C) Explain what the natural unemployment rate is. Why is it 0%?

D) After a recession ends (expansion begins), would you expect unemployment to increase or decrease? What about natural unemployment?

E) Explain how it might be caused by discouraged workers if the actual unemployment went up after a recession? Refer to the unemployment calculation in your answer.

F) During our current recession, the government decided to increase the unemployment benefits that people received. How would you expect this to affect the unemployment rate? Which type of unemployment?

bronzewater-buffalo862

ECO 1002 Lecture Notes - Lecture 5: Discouraged Worker, Nairu, Full Employment

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