EconHomework2.docx - Economics 1015 Name Bethany Smith Fall 2019 Student Number 14308548 Due Friday Sep 13 6:00 PM on Canvas Homework 2 Please type in

EconHomework2.docx - Economics 1015 Name Bethany Smith Fall...

This preview shows page 1 - 2 out of 4 pages.

Economics 1015 Name: Bethany Smith Fall 2019 Student Number: 14308548 Due Friday, Sep. 13, 6:00 PM on Canvas Homework 2 Please type in or print your answers clearly. Show your work and support your numbers with calculations. 1. For each of the economic situations below, identify whether it describes a healthy economy, a recession, or short-term expansion. a. The unemployment rate is less than the natural rate of unemployment. Short Term Expansion b. Cyclical unemployment is positive. Recession c. Cyclical unemployment is negative. Healthy Economy d. Output is greater than full-employment output. Short-term expansion 2. Examine the following statistics about the economy and answer the questions below: Unemployment rate: 4.0% Labor force participation rate: 62.5% Number of unemployed: 10 million a. How many people are in the labor force? 4.0=10mil/LF x 100 Labor Force = 250 Million b. How many people are employed? 250mil – 10mil = 240 Million c. How many people are classified as not being in the labor force?
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Fall '08
  • RYAN

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes