In 2013 the unemployment rate was 7.4 percent, far above the full employment threshold(5 percent). (a) How

Question:

In 2013 the unemployment rate was 7.4 percent, far above the full employment threshold(5 percent).

(a) How many jobs were lost, as a result, in a labor force of 155 million?

(b) If the average worker produces $116,000 of output, how much output was lost?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

See More Books

Question Posted: May 30, 2018 03:40 AM

See More Questions

The unemployment rate also fails to capture all of the people who have given up looking for work, reports the New York Times. This is one of many complaints about how the U.S. government measures the...
By late summer 2010, the target federal funds rate was between zero and 0.25 percent. At the same time, animal spirits were dormant and there was excess capacity in most industries. That is,...
With its tradition of a job for life for most citizens, Japan once had a much lower unemployment rate than that of Canada; from 1960 to 1995, the unemployment rate in Japan exceeded 3% only once....
Write a report on Home and Automobile: These are two of the most important financial purchases we will make. These decisions, especially housing, will affect much of your ability to meet your...
The speed at which water travels in a pipe can be measured by directing the flow through an elbow and measuring the height to which it spurts out the top. If the elbow height is 10 cm, the equation...
Suppose that an agent is in a 3 x 3 maze environment like the one shown in Figure. The agent knows that its initial location is (1, 1), that the goal is at (3, 3), and that the four actions Up, Down,...
This exercise considers data from the Medical Expenditure Panel Survey (MEPS), conducted by the U.S. Agency of Health Research and Quality. MEPS is a probability survey that provides nationally...
Explain why sunk costs should not be included in a capital budgeting analysis, but opportunity costs and externalities should be included.
PUSHKAS- A USA based sports shoes company is planning to enter into your home country market. This company is sustainable and environmentally friendly and produces shoes from ocean waste. Their...
Sgt. Barnes is a veteran police officer filing as Head of Household. Currently, her taxable income is $50,000, but has been asked to sit for the Leutenant's exam. She is excited about the opportunity...
If the Congressional Budget Office makes its average error this year, by how much will itunderestimate next years budget deficit? Assume a GDP of $15 trillion.
Appendices A and B at the end of this book list the knowledge someone studying for the HRCI (Appendix A) or SHRM (Appendix B) certification exam needs to have in each area of human resource...
Interview the individuals responsible for licensing and licensing decisions on your campus. Ask them to describe the licensing process and what they believe the advantages are to your school.
Wilderness Guide Services, Inc. performs adjusting entries every month, but closes its accounts only at year-end. The company's year. end adjusted trial balance dated December 31, current year, is as...
Using the sinking fund Table 13.3, complete the following: Note: Do not round intermediate calculations. Required amount $ Frequency of Length of payment time 8 years 15,000 Annually Interest rate 8...
2 Anne-Marie and Yancy calculate their current living expenditures to be $50,000 a year. During retirement they plan to take one cruise a year that will cost $5,000 in today's dollars. Anne-Marie...
Instructions: I Complete the 5 steps of computations for the process costing system, using FIFO for Department A and weighted average for Department B; and journalize the transfers from Department A...
Hugh George is a 40% partner in the Hammond & George Partnership. During 2022, the partnership reported the total items below (100%) on its Form 1065: View the items on the Form 1065. View more...
Find the exponential function f(x) = Cb x whose graph is given. (-1, 3)* (1. )
The value of a share of common stock depends on the cash flows it is expected to provide, and those flows consist of the dividends the investor receives each year while holding the stock and the...
You are the financial analyst for a tennis racket manufacturer. The company is considering using a graphite-like material in its tennis rackets. The company has estimated the information in the table...
In Problem 26, suppose youre confident about your own projections, but youre a little unsure about Detroits actual machine screw requirement. What is the sensitivity of the project OCF to changes in...
Consider a project to supply Detroit with 32,000 tons of machine screws annually for automobile production. You will need an initial $2,350,000 investment in threading equipment to get the project...
What strategies might you use to implement the personal change needed to support organizational change? What is the relevance of unity consciousness in organizational leadership, communications, and...
Recognizing the literature (and its limitations) for conveying policing organization, management, and change - what management/organizational changes are needed in policing today? Why? How do we set...
How do organizations effectively navigate the complexities of organizational change, integrating advanced change management methodologies to mitigate resistance and foster sustainable transformation?

In 2013 the unemployment rate was 7.4 percent, far above the full employment threshold(5 percent). (a) How

Question:

Step by Step Answer:

a 37 million b 429 billion c 1384 per person Feedback a When the unemployment rate is 24 perce...View the full answer

The Macro Economy Today

Students also viewed these Business questions