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What might be some of the factors that make frictional unemployment last a longer or shorter period of time?
What evidence have you seen-in your own family or in the media-of increasing flexibility in labor markets?
What was the labor force experience of your grandparents (or others whom you know in that generation? Of your parents (or their generation)?
Do you know anyone who is a discouraged worker? How about someone working part time for economic reasons?
How would the BLS classify you, personally, on basis of your activities? Is it true that people who are not working are generally counted as unemployed?
What are the trade-offs associated with the exchange rate level, that is, what are the costs and benefits of an excessively appreciated currency?
Discuss the costs and benefits of a floating exchange rate system, identifying which groups benefit and which are harmed with adoption of this type of regime.
Why would the country be more inclined to join a monetary union than any other country whose money demand would be more stable over the same period of time?
What are the costs and benefits that these countries enjoyed by maintaining this exchange rate regime?
Based on this information, discuss the main criteria that should be considered by these countries to whether they should implement a common currency.
Describe verbally how, in the Keynesian model, an economy can end up in an equilibrium of persistent unemployment.
How would you increase your spending per month? How much would you change your saving? What is your mpc? What is your mps?
In the classical model, the demand for loanable funds curve slopes downward. Explain verbally why the supply of loanable funds curve slopes upward.
Who are the actors in this simple macroeconomic model? What is the role of each in determining the flow of currently produced goods and services?
Is the U.S. economy currently in a recession or an expansion? What does this mean for employment, inflation, and GDP growth?
What impressions do you have of the Great Recession that began in 2007? What were its impacts on people whom you know or have heard about?
describe how the labor force, overall unemployment rate, and unemployment rates by race and ethnicity, age, and education differ from the numbers given in text.
But why would any company want to pay more than it absolutely has to in order to attract workers?
Draw and label a graph illustrating this case, in which the going wage is $20, the equilibrium wage is $15, 50 million people want to work.
How would a household survey, following U.S. methods, classify each person? What is the labor force participation rate in Tatoonia?
Calculate the number of unemployed, The size of the labor force, The unemployment rate and The labor force participation rate.
What has been the relationship between labor productivity and median wages in the United States since World War II?
What are some of the reasons that an economy might offer less than the optimal number of jobs, according to classical theory?
What is the labor force participation rate and how is it calculated? How has it changed in recent decades for men and women in the United States?
What hypotheses must be satisfied for the real exchange rate parity to be verified? Comment on statement: an increase in productivity causes real exchange rate.