What factors caused to change their opinion

Assignment Help Microeconomics

Reference no: EM132126484

Question: (A) How is full employment defined, and why does the full-employment rate of unemployment keep changing?

(B) In December 1998, the BLS reported the following unemployment rates:

1. Unemployed over 15 weeks 1.1%

2. Job losers 2.0%

3. ‘‘Official'' unemployment rate 4.3%

4. Plus discouraged workers 4.5%

5. Plus marginal workers 5.2%

6. Plus part-time workers 7.5%

Which do you think is the best measure of actual unemployment? Explain your choice.

(C) In 1990, most economists thought the full-employment rate of unemployment was about 6%, but in 2000 they thought it was about 4%. Were they wrong in 1990, or was this change based on economic factors? If so, what factors caused them to change their opinion?

Reference no: EM132126484

Questions Cloud

Selecting the appropriate candidate for a job : What would be examples of valid selection methods used by the human resource department to ensure selecting the appropriate candidate for a job.

Complete the processing of digital evidence : What are two attributes of a timestamp that could be located on a computer system? (List and explain.)

What is the desired profit per unit : Projected sales revenue is $1770000 ($6.00 per unit) and target costs are $1563500. What is the desired profit per unit?

Help me define corporate social responsibility : Help me conduct research on a Fortune 500 company and how do you determine just how (or if) the company ranks from a CSR perspective.

What factors caused to change their opinion : In 1990, most economists thought the full-employment rate of unemployment was about 6%, but in 2000 they thought it was about 4%.

Define the concept of intelligence-led policing : Define the concept of intelligence-led policing, and explain why it is an important concept for law enforcement agencies.

Business model for jpmorgan chase : The business model for JPMorgan Chase was change in 2008. Could the upside of the strategy have been achieved without exposing JPMorgan Chase the bank?

Greatest long-term potential china or russia : Based on land, minerals and natural resources, labor and entrepreneurial innovation, which country do you feel has the greatest long-term potential China

What would social security payments have been : In 1955, the last year when social security payments included only old-age payment (before disability), payments totaled $4.9 billion.

User Account

All Pages