ANSWER

Report
ISL244E
Macroeconomics
Problem Session-8
by
Research Assistant
Serkan Değirmenci
D202/02-04.04.2012
Today
• GNH (2009), Macroeconomics in Context
- Chapter 7: Employment and Unemployment:
(btw pages: 149-170)
Review Questions (RQ): 1-9 (Page: 168-169)
 Exercises (E): 1-2-6 (Page: 169-170)
• BLANCHARD (2009), Macroeconomics
- Chapter 6: The Labor Market:
(btw pages: 135-156)
Quick Check (QC): 1-2 (Page: 153)
Chapter-7-RQ-1 (Page: 168)
•
•
•
•
What population is included in the official household survey that
measures employment and unemployment?
ANSWER:
Age 16 or over,
non-institutionalized,
non-military.
Chapter-7-RQ-2 (Page: 168)
•
•
•
•
What questions are asked to determine if someone is
“employed”?
ANSWER:
“Last week, did you do any work for pay or profit?” is the main
question.
People are also asked about work in a family business (or more
than 15 hours) or
if they were sick, on vacation, or on leave from a job.
Chapter-7-RQ-3 (Page: 168)
•
•
•
•
What makes a person count as “unemployed”?
ANSWER:
Not employed,
but actively searching for
and available for work.
Chapter-7-RQ-4 (Page: 168)
•
•
How is the unemployment rate calculated?
ANSWER:
unemployment rate = number of unemployed / number in
labor force ×100
Chapter-7-RQ-5 (Page: 168)
•
•
•
What groups tend to have particularly high unemployment
rates? Particularly low rates?
ANSWER:
Blacks, teenagers, and high school drop-outs tend to have
higher unemployment rates.
Whites and people with college degrees tend to have lower
rates.
Chapter-7-RQ-6 (Page: 169)
•
•
•
•
•
List four ways a person may enter unemployment.
ANSWER:
Lose a job,
leave a job,
re-enter the work force,
enter the work force.
Chapter-7-RQ-7 (Page: 169)
•
•
What are “discouraged workers,” and why are they of concern?
ANSWER:
Someone who desires and is available for a job, but gives
discouragement as the reason for no longer looking.
Unemployment figures may underestimate peoples’ need for
jobs.
Chapter-7-RQ-8 (Page: 169)
•
•
•
•
List the three types of unemployment, and describe them.
ANSWER:
Frictional: due to transitions between jobs.
Structural: mismatch between available jobs and people’s
skills, experience, education and location.
Cyclical: due to macroeconomic fluctuations.
Chapter-7-RQ-9 (Page: 169)
•
•
•
What policies may be used to combat frictional and structural
unemployment?
ANSWER:
Frictional: technologies for job matching, unemployment
insurance.
Structural: industrial policies, adjustment assistance, business
policies of retraining.
Chapter-7-E-1 (Page: 169)
•
The small nation of Neverland counts its unemployed using the
same methods as the United States. Of the population of 350
people, seventy are under age sixteen, 190 are employed in
paid work, and eighty are adults who are not doing paid work
or looking for work because they are doing full-time family
care, are retired or disabled, or are in school. The rest are
unemployed. (No one is institutionalized, and the country has
no military.) Calculate the following:
a. The number of unemployed.
b. The size of the labor force.
c. The unemployment rate.
d. The labor force participation rate (overall, for both sexes)
Chapter-7-E-1 (Page: 169)
Under Age 16
70
LF=
200
Employed
190
Unemp. Rate
5.0
Not in the Labor Force
80
LFP overall
71.4
Unemployed
10
Population
350
Adult Population
280
ANSWER:
a. 10 (= population − under age 16 − employed −not in labor force = 350
− 70 − 190 − 80)
b. 200 (= employed + unemployed = 190 + 10)
c. 5.0% (= unemployed/labor force = 10/200 ×100)
d. 71.4% (= labor force/adult population × 100= (200/(350 − 70)) × 100)
Chapter-7-E-2 (Page: 169)
•
The population of Tattoonia is very small.
Luis works for pay, full-time.
Robin works one shift a week as counter help at a fast-food
restaurant.
Sheila is retired.
Shawna does not work for pay, but is thinking about getting a job
and has been flipping through the want ads to see what is available.
Bob has given up looking for work, after months of not finding
anything.
Ana, the only child in the country, is twelve years old.
a. How would a household survey, following U.S. methods, classify
each person?
b. What is the labor force participation rate in Tatoonia?
c. What is the unemployment rate in Tatoonia?
Chapter-7-E-2 (Page: 169)
ANSWER:
a. See first two columns of table:
Luis
Employed
Adult Pop =
5
Robin
Employed
Pop
6
Sheila
Not LF
Shawna
Not LF
LF =
2
Bob
Not LF (discouraged)
lfp =
40
Ana
Not surveyed
unemp =
0
b. 40.0% (labor force/adult population × 100= (2/5) × 100)
c. 0% (no one is unemployed)
Chapter-7-E-6 (Page: 170)
• Locate the most recent news release on employment and
unemployment statistics at the TURKSTAT website
(www.turkstat.gov.tr).
• In a paragraph, describe how the labor force, overall
unemployment rate, and unemployment rates by race and
ethnicity, age, and education differ over time.
• ANSWER:
www.turkstat.gov.tr
TÜRKİYE
2010
Tablo 1. Mevsim
etkilerinden
arındırılmamış temel
işgücü göstergeleri
(Aralık 2010-2011
DÖNEMLERİ
KARŞILAŞTIRMASI)
KENT
KIR
2011
2010
2011
Kurumsal olmayan nüfus (000)
71 707 72 925
49 342
49 839
22 366 23 087
15 ve daha yukarı yaştaki nüfus (000)
52 929 54 122
36 741
37 288
16 189 16 834
İşgücü (000)
25 593 26 254
17 150
17 543
8 444
8 711
22 665 23 678
14 833
15 531
7 832
8 147
İstihdam (000)
İşsiz (000)
2010
2011
2 929
2 576
2 317
2 011
612
564
İşgücüne katılma oranı (%)
48,4
48,5
46,7
47,0
52,2
51,7
İstihdam oranı (%)
42,8
43,8
40,4
41,7
48,4
48,4
İşsizlik oranı (%)
11,4
9,8
13,5
11,5
7,2
6,5
14,2
12,0
13,9
11,7
15,8
13,3
21,6
18,1
24,2
19,7
15,9
14,8
27 336 27 868
19 591
19 745
7 745
8 123
Tarım dışı işsizlik oranı (%)
Genç nüfusta işsizlik
oranı(1)(%)
İşgücüne dahil olmayanlar (000)
(1) 15-24 yaş grubundaki nüfus
Not: Rakamlar yuvarlamadan dolayı toplamı vermeyebilir.
Chapter-6-QC-1 (Page: 153)
1.
Using the information in this chapter, label each of the following statements true,
false, or uncertain. Explain briefly.
a. Since 1950, the participation rate in the United States has remained
roughly constant at 60%. False. The participation rate has increased over time.
(see page 136) => the participation rate has steadliy increased over time…
b. Each month, the flows into and out of employment are very small
compared to the size of the labor force. False. (see Figure 6.2 on page 137)
c. Fewer than 10% of all unemployed workers exit the unemployment pool
each year. False. (see Figure 6.2 on page 137) => 45%
d. The unemployment rate tends to be high in recessions and low in
expansions. True. (see page 139 and Figure 6-3)
e. Most workers are typically paid their reservation wage. False. (see page 142
=> wage determination)
f. Workers who do not belong to unions have no bargaining power.
Uncertain/False. The degree of bargaining power depends on the nature of the
job and the employee’s skills. (see page 142 => wage determination)
g. It may be in the best interest of employers to pay wages higher than
their workers’ reservation wage. True. (see page 143 => efficiency wages)
h. The natural rate of unemployment is unaffected by policy changes. False. (see page 149)
Chapter-6-QC-2 (Page: 153)
2.
Answer the following questions using the information provided in this
chapter. (see page 137 Figure 6-2)
a. As a percentage of the employed workers, what is the size of the
flows into and out of employment (i.e., hires and separations) each
month? (Monthly hires + monthly separations)/monthly employment =(4.4+4.6)/122=7%
b. As a percentage of the unemployed workers, what is the size of the
flows from unemployment into employment each month? 1.4/6.2=23%
c. As a percentage of the unemployed, what is the size of total flows out
of unemployment each month? What is the average duration of
unemployment? (1.4+1.4)/6.2=45%. Duration is 1/.45 or 2.2 months.
d. As a percentage of the labor force, what is the size of the total flows
into and out of the labor force each month? (3+2.8+1.4+1.4)/128.2= 6%.
e. What percentage of flows into the labor force do new workers
entering the labor force constitute? new workers: 0.4/(3+1.4)=9%.
to be continued…

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