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Nation's Economic Pain DeepensA spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing and credit markets are leading the U.S. economy into a painful recession. The government said Friday that the unemployment rate soared to 5.5% in May from 5% in April - much higher than economists had forecast. The surge marked the biggest one-month jump in unemployment since February 1986, and the 5.5% rate is the highest level since October 2004. Unemployment is now a full percentage point higher than it was a year ago...CNN, June 6, 2008
a. How does the unemployment rate in May compare to the unemployment rate during the past few recessions?b. Why might the unemployment rate tend to actually underestimate the unemployment problem, especially during a recession?c. How does the unemployment rate in May compare to the estimated natural unemployment rate? What does this imply about the relationship between real GDP and potential GDP at this time?
Estimate simple linear regression models for both the raw data and the logs, estimating both the intercept and the slope.
What is the annual compounding interest charged? Using the compounding annual interest rate from above, what is the nominal, period interest rate and corresponding effective interest rate if compounding is hourly? Assume 30 days per month.
With the assumption that A=1, and the share of labor in the national income is 1/2. Also K=120 million dollars and L= 10 million units and saving rate = 35% and the depreciation rate is 10%. How many periods it will take this economy to reach the ..
Tom is a utility maximizer with an income of $200/week, which he spends on two goods, food and clothing. The unit prices of food and clothing are $3 and $20 respectively. 1.) Draw a graph that shows Tom's choice using an indifference curve and his..
Use the capital-asset pricing model to predict the returns next year of the following stocks, if you expect the return to holding stocks to be 12 percent on average, and the interest rate on three-month T-bills will be two percent.
Assume a continuous-time solow growth model with no technical progress. The economy is closed and there is no government sector. Labor supply is given by L_t = e^nt, n>0. The average propensity to save out of GDP is s,, with 0
What is Harry's price elasticity of demand for good x, denoted "x;px ? From Harry's perspective, is x ordinary, Gien, or neither? What is Harry's income elasticity of demand for good x, denoted "x;I? From Harry's perspective, is x normal, inferior, ..
A student conducted a study and reported that the 95 percent confidence interval for the mean ranged from 46 to 54. He was sure that the mean of the sample was 50, that the standard deviation of the sample was 16, and that the sample was at least ..
The joint probability distribution on the returns of two securities X and Y is demonstrate in the table below.
Calculate the points on the aggregate demand curve when the price level equals 0.75, 0.80, 1.00, 1.20, 1.25, and 1.50. Compute the price level and real GDP in periods 1-6. Describe the cyclical behavior of real ..
Are there any predictable performance cycles for Wal-mart? If so, what are the periods over which its cycle waxes and wanes?
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases the price ..
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