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Chapter 7 Problems 1.)   Other than not working what are some social problems associated with unemployment?...

Chapter 7 Problems
1.)   Other than not working what are some social problems associated with unemployment?
2.)   How is the unemployment rate calculated?
3.)   Describe the Labor Force. How is it calculated? List one demographic group that the labor force participation rate has increased for and one demographic group that it has decreased for over the years in the U.S.
4.)   Why is the unemployment rate understated? Provide at least three reasons.
5.)   List and describe at least four sources of Unemployment.
6.)   What is the meaning of Full Employment/ Natural Rate of Unemployment? If we are at full employment that means that we have no type of ___________unemployment?
7.)   A.) List the two sources of Inflation and B) how each affect either Aggregate Supply or Aggregate Demand
8.)   Define and describe the NOMINAL interest rate vs. the REAL interest rate.
9.)   What is the most important thing that you learned from either Chapter 6 or 7. Why?

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Answer #1

Answer 1 - Other than non working there are several other problems that are directly related with unemployement. These are the social problems that arise in course of unemployment. Homelessness , financial debt burdens , mental stress , criminal thinking , mental breakdown , financial stress are all the problems other than non working which are associated with unemployement.

2 - Unemployment rate is calculated as the percentage of the labor force.

Unemployment rate = Unemployed persons / labor force*100

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