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a) The current unemployment rate is 4.6% and the number of people in the labour force is 266,478. Use this information to find the following.
i. How many people are unemployed?
ii. If the working age population is 366,547, what is the labour force participation rate?
b) Suppose that the size of the labour force decreases by 20,000 people. What would happen to the unemployment rate? Assume that the number of people unemployed does not change. Explain your answer by referring to the relevant equation.
c) Levi lost his job in the factory he worked in as the factory lost its competitiveness in the domestic market over cheap imported products. Levi now cannot find a job that utilizes his skills. Is Levi frictionally unemployed, structurally unemployed or cyclically unemployed? Explain your answer.
Danielle has the following VonNeumann-Morgenstern utility function with v(c)=c. (i.e. If there are only two possible states of the world with probabilities L and H and consumption levels cL and cH; expected utility will be LcL + HcH) She is a soccer ..
Which of the following bonds is supported by collateral?
Does it make sense for us to punish a murderer when we are going to commit a murder ourself when we give death penalty?
Boss Fuzzhead is an engineer by training and says “I know that we can substitute capital for unskilled labor in the production process that our company uses and projections are that capital costs are declining, so those unskilled folks better just be..
Assume the demand function for beer is defined as: Qb = 10P^-2: From this demand equation is it easy to verify that the slope of this equation,defined as aQ/aP; is equal to -20P^-3. What is the general form of the point elasticity formula for this gi..
The economy is in recession with high unemployment and low output. What fiscal policy should be pursued in this instance-expansionary or contractionary? What will be the effect of the appropriate policy on aggregate demand?
Assume that the state government is interested in subsidizing the local production of steel. The current price of steel is $1600 per ton and the government wants to provide a subsidy of $100 per ton. Use a diagram to indicate the pre-subsidy situatio..
Jerry, who is age 56, was just called into the President's office at Napa Sunrise, Inc.
A group of private investors purchased a condominium complex for $5 million. They made an initial down payment of 12% and obtained financing for the balance. If the loan is to be amortized over 11 years at an interest rate of 6.6%/year compounded qua..
A decade ago Mirk Labs incurred $60 million in research and development coss for Zatab. Current production costs for Zatab are constant and equal to %5 per unit what whole sale price will Mirk Labs set.
Al has found $1,000 and has decided to divide it between his children, Bud and Kelly. Suppose that Bud is rich and Kelly is poor. Assume that the marginal utility provided by a dollar declines the richer you are. If Al is concerned with increasing bo..
Suppose that consumption expenditures, investment expenditures, and government purchases are 75 billion, 25 billion and 20 billion, respectively. How large should the GDP be so that the net export is zero?
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