Describe unemployment and the unemployment rate

Assignment Help Macroeconomics
Reference no: EM134436

Question 1

a) What is GDP? Show the two ways in which it is measured, and why the two ways must come to the same result. Taking the most general measure, what are its components (i.e. what is GDP composed of)? Discuss the importance of expectations about the future on the several components of GDP.

b) "Our country's GDP is bigger than theirs. Thus, our social welfare (well being) is higher than theirs". Show the validity of this statement in detail. If we do not use GDP, what other measures might we use and why might they be better?

Question 2

a) Describe unemployment and the unemployment rate. Might we be able to say "Job Stats: Too Good to be True?"

b) You read that the unemployment rate has risen. Your mother says that the decline means the economy is falling back into recession. You disagree, and say that the economy can be getting better. Describe why you may be correct.

c) Compare and contrast the "Natural Rate" and the "NAIRU" rates of unemployment? What do each imply about policies to reduce unemployment? Why? How is NAIRU supposed to be a "better" definition than "Natural Rate"? Are either of these good definitions? Why or why not?

d) Unemployment rates have been linked to inflation rates. Describe this. It has been said that the "War on Inflation" dictates lower wages. Illustrate.

Question 3

a) Full employment is often said to be the norm. Carefully answer how this can be true.

b) Full employment is often said to NOT be the norm. Carefully answer how this may be true.

Question 4

a) What is money? Show its functions and characteristics and how these characteristics are important to what money is and does.

b) Money is said to be the cause of modern civilization. Show.

c) Apparently, money is better at what it does than is any other system. Carefully show why people would want to use money as opposed to not using money.

Question 5

a) What is money demand? Show a graph and use it to illustrate your point. Describe the transactions, speculative, and precautionary demands for money and how they can give us a money demand curve.

b) Given the Total Cost of Holding Money = ry/2n+fn, thoroughly describe what the equation means and how weobtain the Total Cost of Holding Money curve.

c) Let interest rates fall. Given the above equation, show what happens to the number of conversions. How does this help us find a money demand curve?

d) What happens if fees on ATMs fall? How does this affect the number of conversions and our demand for money?

Question 6

1387_Describe unemployment and the unemployment rate.png

a) Making use of the two production functions provided above, describe which portrays short run growth and which portrays long run growth and why. Be precise, and define and describe all economic notation given on the graphs.

b) Using reasoning from part a) describe which is more important for sustained long-term growth: more capital or technological change.

c) In addition to either parts a) or b), what are some other sources of long-term growth. List and briefly explain.

d) Your friend suggests that since the economy is growing, everyone is better off. You suggest that this may be true, but there are times when it may not be true. Explain it to your friend.

Question 7

It says on your currency "This note is legal tender for all debts public and private". Show one place in your daily economic life that currency is not usable for debts. Also, distinguish between "government created money" and "market created money".

Reference no: EM134436

Questions Cloud

Perform a reliability analysis of the downtime data : You have to perform a reliability analysis of the downtime data.
Organisational structure and culture : Understand the relationship between organisational structure and culture
Foundations of business analysis and operational research : The purpose of this assignment is for you to reflect on practical case studies and consider how these relate to the material covered in Foundations of Operational Research and Business Analysis.
Evaluate laplace transforms : Analyse and Model Engineering Situations and Solve Engineering Problems using Laplace Transform
Describe unemployment and the unemployment rate : Describe unemployment and the unemployment rate. Might we be able to say "Job Stats: Too Good to be True?"
Write a java program on professional expression assignment : Write a java program on Professional Expression Assignment
Analyze the companys operations-results and future : Analyze the company's operations, results and future. Show the three options available to Eileen and Fred.
International business operations : Advantages and disadvantages of each.  Which do you believe would be the most beneficial to DSV and Eastrex?
Design database table required to store children information : Design the database tables required to store children and class information. In addition to the attributes, be sure to check the needed foreign keys and primary keys.

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  Prepare a project summary

Overview of the project's objectives and scope

  Market imperfection associated with negative externalities

Essay on Market imperfection associated with negative externalities

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Find out the real wage rate

Plot the wage- setting and price setting equation or a property labelled graph and identity the nature rate of unemployment.

  Explain the economic situation in the uae

Explain the economic situation in the UAE based on the article. Summarize the articles with your own words

  Market imperfection associated with negative externalities

Essay on Market imperfection associated with negative externalities.

  Demand supply and market equilibrium

Exchange and markets, Demand supply and market equilibrium

  Shift in the ad curve

The rising stock market implies an increase in wealth, at least as measured on paper. If we assume that some of this increased wealth gets consumed, then the rising stock market fuels an increase in aggregate demand, and may contribute to an inflatio..

  Macroeconomics fourth canadian edition

Answer the following questions as these general questions pertain to the specific issue selected.The questions that you will cover with respect to your choice of broad social issue in the paper are given.

  Which of the happing tends to occur during recessions

Which of the followings tends to occur during recessions Cyclical unemployment tends to fall The stock markets tends to surge (experience a rapid rise in prices) Interest rates tend to fall Gross Domestic Product rises Consumer ..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd