Which of the following are possible reasons why a country may have a higher unemployment rate? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? The country could have more generous unemployment benefits. ? The country could be in a recession and have higher cyclical unemployment. A greater percentage of the country's workers could be unionized.. ? The country could have a more liberalized labor market, leading to lower frictional unemployment. ? The country could have higher (and binding) minimum wages. ? The country could be in an expansion and have lower cyclical unemployment. ? The country could have a lower natural rate of unemployment. ? Many firms in the country have elected to pay efficiency wages. The table below presents labor market data for three countries. All population values are in millions. Working-age Labor Labor-force Unemployment participation rate (%) Country population force Employed Unemployed rate (%) Japan France Germany 117 64 3 74 33 47 5 10.64 57.89 Instructions: Round your answers for the working-age population, labor force, employed, and unemployed to the nearest whole number. Round your answers for the unemployment rate and labor-force participation rate to two decimal places. a. Fill in the blanks in the table above. b. In part a, you may have noticed that the unemployment rates of the three countries differ from one another. Which of the following are possible reasons why a country may have a higher unemployment rate?
Which of the following are possible reasons why a country may have a higher unemployment rate? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? The country could have more generous unemployment benefits. ? The country could be in a recession and have higher cyclical unemployment. A greater percentage of the country's workers could be unionized.. ? The country could have a more liberalized labor market, leading to lower frictional unemployment. ? The country could have higher (and binding) minimum wages. ? The country could be in an expansion and have lower cyclical unemployment. ? The country could have a lower natural rate of unemployment. ? Many firms in the country have elected to pay efficiency wages. The table below presents labor market data for three countries. All population values are in millions. Working-age Labor Labor-force Unemployment participation rate (%) Country population force Employed Unemployed rate (%) Japan France Germany 117 64 3 74 33 47 5 10.64 57.89 Instructions: Round your answers for the working-age population, labor force, employed, and unemployed to the nearest whole number. Round your answers for the unemployment rate and labor-force participation rate to two decimal places. a. Fill in the blanks in the table above. b. In part a, you may have noticed that the unemployment rates of the three countries differ from one another. Which of the following are possible reasons why a country may have a higher unemployment rate?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 4QP
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Transcribed Image Text:Which of the following are possible reasons why a country may have a higher unemployment rate?
Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to
place a check mark. For incorrect answer(s), click the option twice to empty the box.
? The country could have more generous unemployment benefits.
? The country could be in a recession and have higher cyclical unemployment.
A greater percentage of the country's workers could be unionized..
? The country could have a more liberalized labor market, leading to lower frictional unemployment.
? The country could have higher (and binding) minimum wages.
? The country could be in an expansion and have lower cyclical unemployment.
? The country could have a lower natural rate of unemployment.
? Many firms in the country have elected to pay efficiency wages.
Transcribed Image Text:The table below presents labor market data for three countries. All population values are in millions.
Working-age Labor
Labor-force
Unemployment participation rate
(%)
Country population force Employed Unemployed rate (%)
Japan
France
Germany
117
64
3
74
33
47
5
10.64
57.89
Instructions: Round your answers for the working-age population, labor force, employed, and unemployed to the nearest whole
number. Round your answers for the unemployment rate and labor-force participation rate to two decimal places.
a. Fill in the blanks in the table above.
b. In part a, you may have noticed that the unemployment rates of the three countries differ from one another.
Which of the following are possible reasons why a country may have a higher unemployment rate?
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