# Chapter 8: Questions 5, 9, 15

Mar 26th, 2014
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Chapter 8: Questions 5, 9, 15

5.  Is the natural rate of unemployment fixed?  Why or why not?  How are full employment and the natural rate of unemployment related? Is the actual rate of unemployment currently greater or less than the natural rate of unemployment? Why?

9.  What impact will high and variable rates of inflation have on the economy? How will they influence the risk accompanying long-term contracts and related business decisions?

15.  The following Table B presents the 2010 population, employment, and unemployment data among working age persons for several countries.

a. Calculate the number of people in the labor force for each country.

b. Calculate the labor force participation rate for each country, and put the figures in the blanks provided. Which country had the highest labor force participation rate? Which country had the lowest?

c. Calculate the unemployment rate for each country, and put the figures in the blanks provided. Which country had the highest unemployment rate? Which had the lowest?

Country  Population   Number Employed Number  Rate of Labor Force    Rate of Unemployment    (In Millions)  (In Millions)    Unemployed    Participation (percentage) (Percentage)

 United States 237.8 139.1 14.8 Canada 27.3 17 1.3 Japan 110.3 62 3.1 Germany 70.9 38.2 3 France 49.7 25.4 2.6 Australia 17.9 11.2 0.6 Italy 51.3 22.6 2.1

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