Question

During the Great Recession, the United States Congress increased the length of time that unemployment benefits...

During the Great Recession, the United States Congress increased the length of time that unemployment benefits could be received from 52 weeks to 99 weeks. This change caused:

an increase in the number of employed people in the economy.

an increase in the costs for the government.

a decrease in unemployment.

an increase in the labor force participation rate.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Option b) an increase in the costs for the government.

During the Great Recession, the United States Congress increased the length of time that unemployment benefits could be received from 52 weeks to 99 weeks. This change caused an increase in the costs for the government. By increasing the number of days there will be an increase in the unemployment rate and thereby an increase in the costs for the government as individuals now will give preference to being idle and receiving unemployment benefits for a longer time period compared to working. There will be a great burden on the government due to the recession and the revenues will decrease due to lower ability to pay taxes.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
During the most recent recession—the so-called Great Recession in 2008—the United States government increased the amount...
During the most recent recession—the so-called Great Recession in 2008—the United States government increased the amount of time an individual was eligible for unemployment benefits from a maximum of 26 weeks to a maximum of 99 weeks. How does it compare with the policies during coronavirus in 2020? How is this likely to change the incentives facing the unemployed? (To be eligible for unemployment benefits, one must be “looking for work” and not have refused “suitable work”) What might this...
During the Great Recession, consumer sentiment in the United States declined, leading to a decrease in...
During the Great Recession, consumer sentiment in the United States declined, leading to a decrease in consumer spending. Which of the following factors caused this decrease in consumer sentiment? a. an increase in tax rates b. a decrease in expected income c. a decrease in the money supply d. an increase in household wealth e. falling gasoline prices During the Great Depression, aggregate demand in the U.S. economy decreased. As a result, the unemployment rate _________ and the price level...
The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment...
The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of people discouraged workers 2 million Calculate the size of the labor force. Calculate the labor force participation rate. Show your work. Given the state of the economy described in the...
In 2008, the United States is in a recession. The following measures are implemented: a. The...
In 2008, the United States is in a recession. The following measures are implemented: a. The FED increases the quantity of money. Illustrate with an AD/AS graph the effect of this measure on the economy. Indicate the change in real GDP, the price level and unemployment rate. b. In addition to the increase in money, the federal government cuts taxes. Illustrate the effect of these measures on the economy. Indicate the change in real GDP, the price level and unemployment...
During the 2020 coronavirus pandemic, the United States' unemployment rate increased from a low of 3.5%...
During the 2020 coronavirus pandemic, the United States' unemployment rate increased from a low of 3.5% to 14.7% (as of April 2020). For a historical reference, during the Great Depression the US unemployment rate reached 25%. During the Great Recession, unemployment reached 10% (2009). Using the economic concepts you have learned thus far, discuss the trade-offs for some of the decisions made in response to the pandemic as it relates to unemployment. Please try to keep the discussion centered around...
7. Suppose the number of people who retire is greater than the number of people who...
7. Suppose the number of people who retire is greater than the number of people who enter the workforce and find jobs. All else the same, the labor force participation rate will ________ and the unemployment rate will ________. decrease; increase decrease; decrease increase; decrease decrease; not change increase; increase 10. Structural unemployment is when a worker stops looking for a job because he or she feels no job is available. unemployment caused by changes in the industrial makeup of...
a). supposed during a year working-age population increased by 1%, labor force participation decreased by -3%,...
a). supposed during a year working-age population increased by 1%, labor force participation decreased by -3%, and the number of unemployed people increased by 4%. (note these numbers are rates of growth of the corresponding variables). by how much did the unemployment rate increase or decrease? b). why is there unemployment in an economy at all?
2. The unemployment rate (here in the United States) a. reached ten percent (10%) in October...
2. The unemployment rate (here in the United States) a. reached ten percent (10%) in October 2009 as a result of “The Great Recession” (December 2007-June 2009). b. is regarded (by economists) as “acceptably low” (i.e., revealing the economy to be at “full employment”) when it drops to four or five percent of the labor force . c. was below five percent when Donald Trump became President in January 2017. d. all of the above.
The full-employment unemployment rate for the United States economy is now generally considered to be: A....
The full-employment unemployment rate for the United States economy is now generally considered to be: A. 2 percent of the labor force B. 3 percent of the labor force C. 4 to 5 percent of the labor force D. 6 to 7 percent of the labor force The economy's GDP gap is negative when actual GDP is greater than potential GDP. A. true B. false The level of total spending is the immediate determinant of the: A. Ratio of private...
In recent years the federal government was trying to “correct” the Great Recession in the United...
In recent years the federal government was trying to “correct” the Great Recession in the United States by both increasing government spending and increasing the stock of money. IF the economy operated as the Classical economists thought, what impact would these have had? (Just briefly explain this without providing any underlying analysis.) Trace the impact of an increase either M or G through the classical model noting the impacts on the key variables of Y, N, W, P, W/P, r,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT