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Assignment 5 Teaching week 8 ECON 202 2010

# Assignment 5 Teaching week 8 ECON 202 2010 - ECON 202...

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ECON 202: Tutorial Assignment 5, 2010 To be discussed in tutorials in the week beginning Monday 13th September. This assignment will NOT be graded. You should prepare written answers and be prepared to answer questions and participate in discussion at the tutorial session. Question 1 The table below uses data for the year 2000 provide by the US Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in millions. Fill in the blank entries in the table. Show your work. Country Adult Population Labor Force Employed Unemployed Unemployment Rate Labor-Force Participation Rate Japan 108.12 63.79 3.20 France 25.98 2.45 56.4 percent Germany 69.17 39.75 8.08 percent Question 2 The wage setting relation W = PF(u, z) developed in lectures and in Blanchard, for the situation where P = P e , can be drawn in real wage/unemployment space as follows: W/P WS (Wage setting relation) u (a) Explain why a decrease in the unemployment rate would be associated with a higher real wage rate. (b)

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Assignment 5 Teaching week 8 ECON 202 2010 - ECON 202...

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