Employment data (Civilian-non-military and non-institutionalized, over 16) Types of unemployment; Structural 3% Friction

Post by **answerhappygod** » Sun Jul 03, 2022 6:57 am

: Employment Data Civilian Non Military And Non Institutionalized Over 16 Types Of Unemployment Structural 3 Friction 1 (88.66 KiB) Viewed 12 times

1) You have calculated the correct unemployment rates forthe U3 (normal). Based on your finings you have
notified the committee that: (toone decimal point)
A) The civilian labor force is:__________
B) The U3 unemployment rate is:______%
2) If the short run aggregate supply curve has shifted back, thetype of inflation we would expect to have is
___________. This would create a domesticeconomy experiencing _________ (high or low) price level and
(high or low) ________unemployment.
Employment data (Civilian-non-military and non-institutionalized, over 16) Types of unemployment; Structural 3% Frictional 5% Population (available for work): 110 million Full time workers 70 million Part-time workers by own choice 10 million Part time workers due to economic deficiencies 7 million Discouraged worker 5 million Unemployed 11 million Inflation CPI 5.3% PCE=5.4% GDP deflator 124 PPI 110 Central Bank Reserve requirement (rr) = 3% Discount rate = 3% Fed rate = 2% Domestic Economy Present (actual) Real Gross Domestic Product (GDP) = $18 trillion Potential output (GDP) - $21 trillion Marginal propensity to consume (MPC) = 0.9 National debt = $24 trillion Foreign currency exchange: $1.05 US dollars = 1 foreign dollar