In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.
For this assignment, you should use the information in the textbook and the information found on the official Department of Labor website, http://www.bls.gov/home.htm. Textbook is Mankiw, N. Principles of Economics. (7th ed.). Cengage Learning.
Unemployment is one of the major concrens that people have in today’s economy, since losing one’s job can be one of the most devastating events a person can experience. But what do the numbers actually mean? What is the actual state of the economy, in terms of its ability to generate jobs for its citizens?
Questions:
1. What is the labor fore participation rate? What was the labor force participation rate in 2008? How has it changed since 2008 and what does this change imply for the state of the economy? Does the labor force participation rate effect the unemployment rtes reported in the media?
2. How is unemployment measured and reported?
3. What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of uuemployment? How has the number of discouraged workers changes since 2008? How does the exclusion of the discouraged worker affect the basic unemployment rate reported in the media?
4. What is frictional unemployment? What is structural unemployment? What is cyclical unemployment? What economic policies should be used to deal with these types of unemployment? Which type is most prevalent in today’s economy?
5. Unemployment insurance is designed to help the unemployed. Do these benefits ecourage or discourage a person from looking for work? How long should these benefits last?
6. Does the existence of unions help or hurt the overall economy and the employment rate? Why or why not?
Deliverables:
1. Submit an 3-6 page paper in Microsoft word format. APA style.
2. Create a microsoft power point presentation of 5-10 slides that summaries your findings in your report.
3. Please us the information in the Department of Labor website, http://www.bls.gov/home.htm
4. Please use information in Mankiw, N. Principles of Economics. (7th ed). Cengage Learning.
This is information from the book
Week 2: Week 2 – Business Cycle—Unemployment and Inflation
The Business Cycle: Unemployment and Inflation
|
 |
|
What is Unemployment?
In a market economy, unemployment means that there is an excess supply of labor in the economy. Households supply more labor than is demanded by firms. For unemployed households, market access to goods is cut off. These households cannot sell their labor and earn the money required to buy food, houses, clothes, and other essentials.
The unemployment rate is the most commonly used measure of unemployment. It is the percentage of workers in the labor force who do not have jobs.
The labor force includes people 16 years of age and older who are employed or are actively seeking a job. Therefore, children, elderly people, the severely disabled, people who exclusively earn income in profits, rent, or interest are not included in the labor force.
The definition of unemployment does not include discouraged workers. These individuals without jobs have not actively sought a job in six months. They have given up searching for a job because they believe that there are no jobs for them. Therefore, they are not counted as part of the labor force.
Part-time workers are considered employed and are not considered in the unemployment rate, even though they may be actively seeking full-time employment.
Using the navigation on the left, please proceed to the next page.
|
|
|
|
|
|
 |
|
 |
Week 2: Week 2 – Types of Unemployment
Week 2: Week 2 – Types of Unemployment
Types of Unemployment
|
|
|
There are three types of unemployment that are based on the different reasons that individuals are without work even though they are seeking jobs.
Frictional unemployment is when workers are moving from one job to another during a brief transitional period. Frictional unemployment is voluntary unemployment.
Structural unemployment is when workers have skills that do not match any available jobs. Structural employment is involuntary unemployment. Because the problem is long term in nature, short-term changes in growth do not significantly affect the percentage of the workforce that is structurally unemployed.
Cyclical unemployment is when workers lose jobs because of an economic recession. Firms in the aggregate are unable to sell enough goods to justify the employment of these workers. Cyclical unemployment is involuntary unemployment. During an expansion, these workers make short-term growth possible.
Using the navigation on the left, please proceed to the next page.
|
|
|
|
|
|
|
|
|
Week 2: Week 2 – Phases of the Business Cycle
Phases of the Business Cycle
|
|
|
There are few things in economics that could be called a sure thing, but the business cycle is one of them! The business cycle refers to the variations in the level of economic activity over time. In other words, we can expect the level of economic activity to increase and decrease over time.
We cannot predict, however, with any degree of certainty, the magnitude of these variations. One of the major purposes of both fiscal and monetary policies is to “smooth out” these ups and downs so that the effects or costs of theses cycles are minimized.
The business cycle can be divided into four “phases.” Each phase has its own characteristics in terms of the costs and benefits. Below, each of these phases is described.
- Recession: The economy is in a decline in terms of lower levels of employment; tendency for inflation is minimal.
- Trough: The economy has bottomed out, level of unemployment has been has stabilized, economic activity is at its lowest level.
- Recovery: The levels of employment are increasing, inflationary tendencies increasing; other measures of economic activity are also increasing.
- Peak: The economy has “topped out,” there is prosperity, very high employment levels, maximized economic activity.
Using the navigation on the left, please proceed to the next page.
|
|
|
|
|
|
|
|
|
Week 2: Week 2 – Unemployment and Economic Policies
Unemployment and Economic Policies
|
|
|
Frictional unemployment, being voluntary unemployment, is not a policy problem. Roughly, an unemployment rate of two to four percent represents frictional unemployment. Therefore, an unemployment rate of two to four percent or less is generally considered full employment. The term full employment is used to imply no involuntary unemployment in the economy.
Structural unemployment involves policies directed toward the long-term growth factors that prevent individuals from gaining employment.
The government can act to help provide the structurally unemployed with greater subsidies of human capital—the set of skills that an employee acquires through general education, vocational education, or on-the-job training and experience, which increases that employee’s value in the marketplace. This includes government financing of job-training programs and subsidizing of child care and formal education.
According to John Maynard Keynes, cyclical unemployment is the object of a short-run macroeconomic policy and comes from recessions. Therefore, if the government can shorten recessions or even prevent them from occurring, the unemployment rate in the short run will decrease significantly.
Using the navigation on the left, please proceed to the next page.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Have any questions? Talk to us…