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Think! If you know what unemployment and economic expansion mean, you would know the answer to this!
(by Solomon Zelman)
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∙ 10y ago
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What business cycle will the economy most likely experience during rising real output and falling unemployment rates?
Expansion
Real GDP is rising at a 5% rate, unemployment is at 6% and falling, and inflation is rising at about 2% per year. Where in the business cycle is the economy?
expansion
What are the factors effecting improve your economy?
There are several factors that can improve the economy. The biggest factor that can improve and economy is a low unemployment factor. When unemployment is falling the economy usually improves.
Can massive unemployment shift the production possibility curve inward?
Massive unemployment will shift the PPC to the left because labour force remains underutilized. The economy will produce inside the PPC indicating underutilization of resources.
Why might unemployment not be a concern of the US economy?
Unemployment in the U.S is a huge issue.
What is economy is growing?
expansion
Why isn't full unemployment the same as zero unemployment?
Full employment doesn't mean that there is zero unemployment. Full employment only means that the economy is operating at full employment because there is only structural unemployment, frictional unemployment, and seasonal unemployment. Remaining unemployment is cyclical. Even when an economy is working properly, it will experience frictional, seasonal, and structural unemployment. (gp)
What if the definition of unemployment rate?
The unemployment rate is the percentage of the labor force that is without a job but actively seeking work. It is a key indicator of the health of an economy and is used by policymakers to gauge the level of job availability and overall economic conditions.
A deflationary gap occurs when an economy is in an expansion?
A deflationary gap occurs when ag­gregate demand is less than aggregate supply. Deflationary gap depicts a situation in which total spending in an economy is insufficient to buy all the output that can be produced without unemployment occurring.
Is unemployment micro economy?
No it macro environment
What is an acceptable unemployment rate?
5.4% when the economy is good. 9.5% when the economy is in a recession.
What is measured in unemployment rate?
Unemployment rate measures the percentage of the labor force that is currently unemployed and actively seeking employment. It is an important economic indicator that provides insight into the health of the job market and overall economy.
