The Bureau of Labor Statistics counts as employed people who work part-time, but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed
Explain how the unemployment rate and the labor force participation rate would change.
The unemployment rate would increase and the labor force participation rate would stay the same. The number of unemployed would rise, but the labor force would stay the same. The part-time workers who wanted to be full-time workers would simply go from being employed to unemployed. With no change in the labor force, the labor force participation rate would not change.
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Describe the changes in the variables that will cause supply for a product to decrease, shifting the supply curve up and to the left
What will be an ideal response?
Which of the following is the formula for the intra-industry trade (IIT) share in a product's total trade?
A. 1 - [ |X + M| / (X - M)] B. 1 - [ |X - M| / (X + M)] C. 1 - |X - M| D. 1 - (X + M)
A number of factors are believed to have caused changes in the natural rate of unemployment in the United States during the 1990s. Briefly comment on each of these factors
What will be an ideal response?
Use the information provided in Table 7.4 below to answer the question(s) that follow. Table 7.4Inputs Required to Produce a Product Using Alternative TechnologiesTechnologyUnits of CapitalNumber of EmployeesA 836B 1224C 1616D 24 12Refer to Table 7.4. If the hourly price of capital is $40 and the hourly wage rate is $10, which production technology should be selected?
A. A B. B C. C D. D