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Economic Issues and Policy (with InfoApps 2-Semester Printed Access Card)

Brux, Jacqueline Murray

Chapter 14

Unemployment and Inflation - all with Video Answers

Educators


Chapter Questions

02:09

Problem 1

What does it mean when we say that macroeconomics is the forest, whereas microeconomics is the trees? Which topics are important in macroeconomics? Which topics are important in microeconomics?

Ulysses Ng
Ulysses Ng
Numerade Educator
02:24

Problem 2

Why do you think the labor force participation rate of men is higher than that of women in the United States? Why has the labor force participation rate of women been increasing so dramatically? What are some of the reasons for variation in labor force participation rates of different countries?

Anand Jangid
Anand Jangid
Numerade Educator
02:24

Problem 3

Some economists believe that unemployment rates of women may be lower than those of men during and immediately after recessions. Can you explain this phenomenon?

Anand Jangid
Anand Jangid
Numerade Educator
03:20

Problem 4

Have you ever been unemployed? (Remember the technical definition of unemployment.) If so, which type of unemployment did you experience?

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator
01:01

Problem 5

Ask your friends or family how the unemployment rate is calculated. Are they able to give the proper technical procedure?

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator
02:23

Problem 6

Check the Bureau of Labor Statistics Web site (http:/l www.bls.gov) to find out the current unemployment rate. Would you say that our economy is currently experiencing full employment? (Remember, full employment doesn't mean full employment.)

Yi Chun Lin
Yi Chun Lin
Washington University in St Louis
05:15

Problem 7

Can you explain why it is sometimes the case that unemployment rates increase while additional jobs are being created in our economy? And why is it sometimes the case that unemployment rates decrease while jobs are being lost in our economy? (Hint. Think in terms of discouraged workers.)

Naveed Naemi
Naveed Naemi
Numerade Educator
02:14

Problem 8

What are the effects of unemployment on the individual unemployed person? What are the effects on the economy? Which effects are more serious?

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator
01:35

Problem 9

What are some policies that can be used to reduce structural unemployment? Try to come up with some of your own ideas.

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator
02:21

Problem 10

In June 2000,58 illegal Chinese immigrants were found dead in a sealed area of a truck, smothered by heat and lack of air during a five-hour journey to Britain. It was said that the victims had died "a most terrible death." Similar situations occur frequently as illegal Mexicans cross the U.S. border, often locked in small, airless vehicles, and as Cubans traverse stormy waters in poorly equipped boats. Who do you think is to blame for these situations? Is it the desperate immigrants, the crime syndicates that provide the transportation, a rigid immigration system, a public attitude of hostility toward immigration, or a global economic system that permits poverty in one country alongside prosperity in another? Defend your answer.

Jesse Leija
Jesse Leija
Numerade Educator
01:49

Problem 11

Many U.S. companies (including WalMart) have been charged with buying their products from "sweatshops" operated in poor developing countries. While any job is conceivably better than no job for poor unemployed workers, there is still the equity issue involving dangerous and low paying jobs. Find out what you can do about sweatshop labor by simply googling "sweatshop labor."

Samit Deshmukh
Samit Deshmukh
Numerade Educator
01:43

Problem 12

Why is the understatement of unemployment statistics a problem? Why is overstatement of inflation statistics a problem?

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator
02:54

Problem 13

Look up the Census Bureau Web site (http://www. census.gov), type in "prices," and click "cost of living and wages" to find the current and last year's consumer price index. Use these numbers to calculate the current inflation rate.

Christy Galilei
Christy Galilei
Numerade Educator
01:43

Problem 14

How are you affected by inflation? Think carefully about the effects discussed in this chapter. Are you a gainer or a loser?

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator
03:47

Problem 15

Which problem do you believe is more serious: unemployment or inflation? Defend your answer.

Kaylee Mcclellan
Kaylee Mcclellan
Numerade Educator