Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Calculation for the 'Spell' of unemployment.

Assume that a society consists of two types of workers. For type A, 3 million workers lose their jobs each year, and each one takes a year to find a new one. For type B, 36 million workers lose their jobs each year (3 million per month), and each takes one month to find a new job. Thus, at any given time, 6 million are unemployed in this economy.

a. describe how many "spells" of unemployment occur each year in this economy?

b. What percentage of the "spells" are only one month long?

c. If you take all the workers unemployed each year and multiply each by the length of his or her unemployment spell, how many "months" of unemployment would there be in this economy each year?

d. Of all the "months" of unemployment, how many are accounted for by the workers unemployed a year at a time?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M919850

Have any Question? 


Related Questions in Business Economics

1 a large city has nearly 500 restaurants with new ones

1. A large city has nearly 500 restaurants, with new ones entering regularly as the population grows. The city decides to limit the number of restaurant licenses to 500. Which characteristics of this market are consisten ...

There are many different types of oligopolies in the market

There are many different types of oligopolies in the market economy. When we look at oligopolies they are selling similar products. Give an example of an oligopoly explain how they are different than a monopoly?

Using what you have researched and studied throughout

Using what you have researched and studied throughout Modules 1 - 7, write a report addressing a quantitative analysis (QA) project. Here, you are asked to select a business of interest and develop QA best practices that ...

Abc corp has a bonus plan in place for its ceo linking her

ABC Corp. has a bonus plan in place for its CEO, linking her pay to annual earnings. ABC will pay her $180,000 if earnings are high, $90,000 if they are normal, and $0 if they are low. Each event is estimated to have equ ...

Suppose in the united states one worker can produce 10 tons

Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The Un ...

There are linkages between the microeconomic decisions made

There are linkages between the microeconomic decisions made by managers and the macroeconomic environment. There are numerous examples from the current recession of company layoffs at the micro level, directly influenced ...

Describe the ldquonatural rate of unemploymentrdquo and the

Describe the “natural rate of unemployment” and the estimates for the U.S. What are some of the possible ways in which we could reduce the natural rate of unemployment?

Since macro-environmental forces apply to almost every

Since macro-environmental forces apply to almost every industry simultaneously, which force do you think is having the most dramatic and overarching effect on the organization in which you currently work? Provide a ratio ...

You are evaluating the balance sheet for goodmans bees

You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $360,000, accounts receivable = $2,200,000, inventory = $1,900 ...

You own a building that has possible uses an iternet cage a

You own a building that has possible uses: an Iternet cage, a coffee shop, an ice cream store, and a bookstore. The value of the building in each use is $2,000; $3,000; $4,000; and $5,000, respectively. You decide to ope ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate