posted a question
Chapter 20: Productivity and Growth Problem #17 (Technological Change and Unemployment) What are some examples, other than those given in the chapter, of technological change that has caused unemployment? And what are some examples of new technologies that have created jobs? How do you think you might measure the net impact of technological change on overall employment and GDP in the United States? Chapter 21: Tracking the U.S. Economy Problem #14 (Income Approach to Gap) How does the income approach to measuring GDP differ from the expenditure approach? Explain the meaning of value added and its importance in the income approach. Consider the following data for the selling price at each stage in the production of a 5-pound bag of flour sold by your local grocer. Calculate the final market value of the flour. Stage of Production Sale Price Farmer $0.30 Miller 0.50 Wholesaler 1.00 Grocer 1.50 Problem #15 (Expenditure Approach To GDP) Given the flowing annual information about a hypothetical country, answer question a through d. Billions of Dollars Personal consumption expenditures $200 Personal taxes 50 Exports 30 Depreciation 10 Government purchases 50 Gross private domestic investment 40 Imports 40 Government transfer payments 20 a. What is the value of GDP? b. What is the value of net domestic product? c. What is the value of net investment? d. What is the value of net exports? Chapter 22: Unemployment and inflation Problem #16 (Type of Unemployment) Determine whether each of the following would be considered frictional, structural, seasonal, or cyclical unemployment: a. A UPS employee who was hired for the Christmas season is laid off Christmas. b. A worker is laid off due to reduced aggregate demand in the Economy c. A worker in a DVD rental stores becomes unemployed as video-on-demand cable service becomes more popular. d. A new collage graduate is looking for employment.