Germany set up training programs for refugees in

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Applied Calculus
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Chapter 11 / Exercise 19
Applied Calculus
Berresford/Rockett
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Germany: set up training programs for refugees in attempt to bridge the gap Around 92,000 Danes are collecting jobless benefits Denmark: some companies have created jobs abroad Results: companies have to turn away potential customers because they cannot expand staffing. Danish Companies Seek to Hire, but Everyone's Already Working: Notes on Articles Lesson 5 Page 33
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Applied Calculus
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Chapter 11 / Exercise 19
Applied Calculus
Berresford/Rockett
Expert Verified
staffing. DT said real unofficial unemployment is 21% Unofficial unemployment rate was 5.3% in July About 59% of Americans have jobs Only 62.6% are considered to be in the labor force DT is talking about the 93 million people in America who don't have jobs 46 million age 60 and over 10 million teenagers Labor Department: most teenagers and retirees don't have jobs because they are too old or are full time students Donald Trump is Right: About 42% of Americans are Unemployed (If you include my 88 year old grandma) Weak labor market = lowered LFPR Bring discouraged workers back to LF to increase LFPR LFPR: has been decline and will continue to decline in coming years because of aging population. Cyclical gains; discouraged workers coming back LFPR is flat in past 2 years Drop in Labor Force Participation Rate: Depends on frictional unemployment: occurs when people switch from one job to another, or when they enter the work force. At the natural rate all the workers who can easily or usefully be hired are working, and new hires can only occur by luring people from other jobs by offering them higher wages. Hysteresis: as a worker's time without a job grows his professional connections might weaken and his skills might become obsolete. What Full Employment Really Means: Lesson 5 Page 34
Price level: measures the average prices of goods and services in the economy. Inflation rate: the percentage increase in the price level from one year to the next. 9.4: Measuring Inflation: Uses the results of this survey to construct a market basket of 211 types of goods and services. Grouped into 8 broad categories: housing, food, transportation, medical care, education and communication, recreation, apparel, and other goods and services To obtain prices of a representative group of goods and services, the BLS surveys 14,000 households nationwide on their spending habits CPI= expenditures in the current year/ expenditures in the base year x100 Intended to measure changes in price level over time Consumer price index (CPI): a measure of the average change over time in the prices a typical urban family of four pays for the goods and services they purchase. Consumer Price Index: Most widely used measure of inflation; policymakers use CPI to tract the state of the economy Businesses use it to help set prices of their products and the wages and salaries of their employers.

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