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Unemployment Data

year

civilian labor force (# of workers)

unemployed

workers

discouraged workers

Total pool of potential workers

t-2

1000

80

21

2100

t-1

1200

85

20

2000

t0

1400

90

19

1900

t+1

1600

95

18

1800

t+2

1800

100

18

1800
  1. From the data in Table above compute the official rate of unemployment and draw graph. 
  2. Compute the growth rate of both the official unemployment rate and depict in a graph.
  3. What is the labor force participation rate?  Using the total pool of potential workers is given in the last column of Table above compute the labor force participation rates.
  4. What is the capacity utilization rate?  What is meant by the 'target' capacity utilization rate?
  5. What is potential output?  Draw a graph that shows this for both upturns and downturns in the economy.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91411388
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