Ch 7 Problem Set (ECON E-202; Introduction to Macroeconomics; Wenyi Shen)

Ch 7 Problem Set (ECON E-202; Introduction to Macroeconomics; Wenyi Shen)

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Unformatted text preview: E, “IRE: Libel, Job losers Job Year Rate Number Total lgyoff leavers Reentrants entrants --_—-ra- 4 6 ta? 3 ( CI wk Mir Fm \wfl—xu ‘ 6% PR 14R13 waemt Lead“ ’ ‘ Vwmw ”Nurse tp‘E '5 1. Use the BLS web site: hm;:fldata.bls.gowegi—binfsurveymost‘fln Find-the May 2010 data for following categories: Employment Level, Civil Labor Force Level, Unemployment Level and discouraged workers, list it below. Based on this information answer the following questions: A. Calculate the Unemployment Rate = 0“ “1-349- ,mar 59“” H 413/153, 301:3) B. According to the BLS web site, how many more people were discouraged from March to May of 2010? Explain why. Chapter 7 Problem Set (3" Wm M»- 3‘ Cl] 00:) were, _nemployment Reason for u—nemployment Source: US. Department of Labor Bureau of Labor Statistics. wwwhlsggv A Calculate the percentage of the unemployed who have just lost their jobs and the percentage who have left their Jobs for both years. a l\. 1005 ”\‘3 [5/39 53$ 31005: 1.15% me: u t is 100:0 A1Alflnha an [1434’ V W B. Calculate the percentage of the unemployed who are unemployed as the result of entering 2005' - :l :i 33 13 160519355 *’ the labor force, either for the first time or as a reentrant for both years. 3. The CPI compares the cost of a market basket of goods with the cost of the same quantities Wit-gl- 34:55 of goods and services in the base year. Suppose that the basket includes (1) admission for two to the local theatre for a Friday evening movie, (2) a large popcorn at the theatre, (3) a large pepperoni pizza (carry-out from the local pizza place), and (4) a two—liter diet Coke. Theatre admission for one Diet Year person Popcorn Pizza Coke Calculate the value of the CPI for each year and the inflation rates for years 2 and 3. Assume that year one is the base year. Hint: you will need to calculate the value of the CPI basket for each year and the CPI for each year. ...
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