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1) Compute various indicators of the state of the labour market using the following information. Please show all of your working. If you do not, you will receive zero marks for the question(s).
Demographic Group Number of Residents
Full-time workers 7000Part-time workers 2000Unemployed and looking for work 600Unemployed and not looking for work due to 500 discouragement over job prospectsNot working due to disability 300Not working due to retirement 900Under the age of 15 3000Total Population 14300
a) What is the size of the labour force in this economy?
b) Calculate the Labour Force Participation Rate for this economy. Report as a percentage to two decimal places.
c) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.
d) Suppose that the natural rate of unemployment is considered to be 5%. What is the rate of cyclical unemployment? Report as a percentage to two decimal places.
Analyze the country as a potential location using the simplified market-penetration grid. Use the weights provided, but support your rankings(0-4) with your research.
Calculate the expected welfare loss, E(WL), from buying this policy. (HINT: the expected welfare loss is the sum of the areas of the two triangles times their probabilities.)
Based on the Coase theorem, if private parties can bargain without expense, then the private market will solve the problem of externalities
A decrease in the price level might cause: A. an increase in the quantity of aggregate demand because of the substitution effect. B. An increase in the quantity of aggregate demand because of the wealth effect. C. A decrease in the quantity of aggreg..
Describe the innovation life cycle proposed by Abernathy and Utter back. Does the model provide a useful tool to guide and manage the innovation process? Do you see any weak points in the model?
How might you determine whether compact discs and restaurant meals are in competition with each other and interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior;
Wages offered for a particular type of job are the same across the country. The labor market usually yields a range of wages rather than a unique equilibrium. Wages exhibit frequent and prompt changes in response to changes in market conditions.
The market interest rate is 10 percent. An investment project needs an investment of $1000 today, and promises to yield $500 at the end of each year for three years. At the end of year four there will be a one-time cleanup cost of $50. Briefly state ..
explain which of the following transactions would be directly counted in 2013 s gdp. in each case explain whether the
Since the beginning of the Great Recession, the Federal Reserve Bank has engaged in expansionary monetary policy (buying US Treasury bonds) with the goal of promoting economic recovery.
Explain the logic underlying the law of one price and the theory of purchasing power parity. How will a decrease in the federal government's budget deficit affect the equilibrium interest rate in the bond market? Explain using the bond demand and sup..
When medical fee schedules are negotiated by two monopolists-one representing patients and one representing providers-the equilibrium medical fees will
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