Columbia Southern University Measuring Unemployment Questions

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Economics

Columbia Southern University

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Your completed assignment should be at least three to four pages in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style.

I have attached the document with the questions on it. Also, a guide.

Question 7 has a graph. The picture is attached as well.

7. (Inflation) Here are some recent data on the U.S. consumer price index:

Computer the inflation rate for each year 1993-2012 and determine which were years of inflation. In which years did deflation occur? Was there hyperinflation in any year?

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7-1 2. (Measuring Unemployment) Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent. (a). What would be the size of the U.S. labor force? (b). If 85 million adults are not working, what is the unemployment rate? 7-1 3.(Types of Unemployment) Determine whether each of the following would be considered frictional, structural, seasonal, or cynical unemployment. (a). A UPS employee who was hired for Christmas season is laid off after Christmas. (b). A worker is laid off due to reduced aggregate demand in the economy. (c). A Worker in a DVD rental store becomes unemployed as video-on-demand cable service becomes more popular (d). A new college graduate is looking for unemployment. 7-2 5. (The Meaning of Full Employment) When the economy is at full employment, is the unemployment rate at zero percent? Why or why not? How would a more generous unemployment insurance system affect the full employment figure? 7-3 7. (Inflation) Here are some recent data on the U.S. consumer price index: Computer the inflation rate for each year 1993-2012 and determine which were years of inflation. In which years did deflation occur? Was there hyperinflation in any year? 8-1 1. (Measuring Labor Productivity) How do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living? 8-2 5. (Long-Term Productivity Growth) Suppose that two nations start out in 2013 with identical levels of output per work hour—say $100 per hour. In the first nation, labor productivity grows by 1 percent per year. In the second, it grows by 2 percent per year. Use a calculator or a spreadsheet to determine how much output per hour each nation will be producing 20 years later, assuming that labor productivity growth rates do not change. Then, determine how much each will be producing per hour 100 years later. What do your results tell you about the effects of small differences in productivity growth rates? 8-2 7. (Technological Change and Unemployment) What are some examples of technological change that has caused unemployment? And what are some examples of new technologies that have created jobs? How do you think might measure the net impact of technological change on overall employment and GDP in the United States? 7. (Inflation) Here are some recent data on the U.S. consumer price index: Year 1999 2000 Year 1992 1993 1994 1995 1996 1997 2001 СРІ 140.3 144.5 148.2 152.4 156.9 160.5 163.0 СРІ 166.6 172.2 177.1 179.9 184.0 188.9 195.3 Year 2006 2007 2008 2009 2010 2011 2012 СРІ 201.6 207.3 215.3 214.5 218.1 224.9 2002 2003 2004 2005 1998 229.6 PROBLEMS APPENDIX 329
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Explanation & Answer

Attached.

Running Head: CHAPTER QUESTIONS

1

Economics
Student’s Name
Institution Affiliation
Date

CHAPTER QUESTIONS

2
Chapter Questions
Answer Two

a).
Labor force participation rate = United States labor force/total non-institutional population
67%=United States labor force/230, 000,000
United States labor force =0.67*230,000,000
=154,100,000
b).
Unemployment rate = unemployed adults/total labor force*100%
Adults who are not part of the labor force=230, 000, 000 – 154, 100,000
=75,900,000
Unemployed adults = 85,000,000-75,900,000
=9,100,000
Unemployment rate =9,100, 000/230,000,000*100%
=0.0396*100%
=3.95%
=4%
Answer Three
a).

CHAPTER QUESTIONS

3

The unemployment, in this case, is seasonal unemployment because the employee has been
laid off because the Christmas season is over.
b).
In this case, the worker has been laid off because the demand cycle has reached a recession.
Therefore it is cyclic unemployment.
c).
Th...


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