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den301095 [7]
3 years ago
11

Historical data shows that during the recession of 1990–1991, the natural rate of unemployment was about 5.9% while the actual u

nemployment rate was 7.0%. A decade later, during the 2001 recession, the natural rate of unemployment fell to 4.8% while actual unemployment was 6.0%. Which of the following statements is correct regarding these two short recessions?
a. The actual unemployment rate was higher during the recession of 1990-1991, but cyclical unemployment was higher in 2001.
b. Both the actual unemployment rate and cyclical unemployment were higher in 2001.
c. The actual unemployment rate was higher in 2001, but cyclical unemployment was higher from 1990-1991.
d. Both the actual unemployment rate and cyclical unemployment were higher during the recession of 1990-1991.
Business
2 answers:
zmey [24]3 years ago
6 0

Answer:

a. The actual unemployment rate was higher during the recession of 1990-1991, but cyclical unemployment was higher in 2001.

Explanation:

Unemployment is defined as the number of people in a population that are willing to work and seeking for jobs but do not have employment.

Natural unemployment is defined as the normal process of leaving jobs and getting jobs in a situation when there is full employment.

Cyclical unemployment is created by recessions and booms.

Actual unemployment = Natural rate + Cyclical rate

Cyclical unemployment= Actual rate - Natural rate

In the first economy

Cyclical rate = 7 - 5.9= 1.1%

In the second economy

Cyclical rate= 6 - 4.8= 1.2%

So actual unemployment was 7% in 1990-1991 while in 2001 it was 6%

Cyclical unemployment was 1.1% in 1990-1991, while cyclical unemployment was 1.2%

Gnesinka [82]3 years ago
5 0

Answer:

A- The actual unemployment rate was higher during the recession of 1990−1991, while cyclical unemployment was higher in 2001.

Explanation:

There are three main types of unemployment: cyclical, structural, and frictional.   The first type is most common and occurs during a recession.  The other 2 on the other hand, constitute the natural unemployment rate.

  • Cyclical unemployment occurs when demand for goods and services drop. This sees workers being laid off to cut costs. Cyclical unemployment creates more unemployment.
  • Natural unemployment comprises frictional and structural unemployment.This explains why there is always unemployment present no matter how well the economy is doing. It involved people changing jobs as well as skills that may no longer be relevant in the previous field of work.
  • Actual unemployment includes both natural employment rate and the cyclical employment rate.

 

Actual rate = cyclical unemployment rate + natural unemployment rate

<em>In 1990-19991,</em>

Cyclical unemployment = 7% - 5.9% = 1.1%

<em>In 2001,</em>

Cyclical unemployment = 6% - 4.8% = 1.2%

From this, we can see that the actual unemployment was higher in 1990=1991 while the cyclical unemployment was higher in 2001

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Answer:

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Explanation:

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7 0
3 years ago
Academic book publishers hire​ editors, designers, and production and marketing managers who help prepare books for publication.
Montano1993 [528]

Answer:

The correct answer is option D.

Explanation:

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These employees work on several books​ simultaneously so a change in quantity demanded of books published in a year.

Since the number of people employed is fixed and does not change with the quantity of output. The cost incurred on these workers will be fixed cost. So the salaries and benefits of people in these people will be included in fixed costs and total costs. But since it does not change with change in the output it will not be included in variable costs.

8 0
3 years ago
1. _______ Allen was driving home when a deer jumped out. The deer damaged his truck.
kow [346]

Answer:

Matching Situation with appropriate term:

1. _c. Collision __ Allen was driving home when a deer jumped out. The deer damaged his truck.

2. _n. Property Damage Liability _ A lightning strike at Troy’s home damages his TV and DVD player.

3. _h. Insurance Company/Insurer _ ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt.

4. _p. Risk management _ Adam’s job is deciding if the insurer will accept a risk and what the cost will be.

5. __o. Renter’s __ Amy decides not to purchase a new car because insurance is so expensive.

6. __m. Premium _ Bill is paid for a collision claim based on the book value of his vehicle.

7. __i. Insurance fraud _ Cheetum’s Body Shop padded the repair bill for Chris’s pick up.

8. _b. Bodily Injury Liability _ Janet hit a car and someone was hurt. This covers the medical expenses.

9. _r. Uninsured and Underinsured Motorist _ Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.

10. _d. Comprehensive _ Missy owes for damage to John’s car because she hit him while talking on her cell.

11. _m. Premium_ Monica’s life insurance costs more but includes a savings component.

12. _s. Whole Life__ Pat insures his business partner, Chuck, with a $1 million life insurance policy.

13. __m. Premium__ Rob gets a bill in the mail from ABC Insurance Company for $125.

14. __h. Insurance Company/Insurer _ Ross contacted this business when he had an automobile accident.

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17. __l. Medical Payments __ Thomas shut the trunk on his thumb and went to the emergency room.

18. __i. Insurance fraud_ Tony and Chris staged an auto accident to collect claim benefits.

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Explanation:

Appropriate terms:

a. Actual Cash Value

b. Bodily Injury Liability

c. Collision

d. Comprehensive

e. Financial Responsibility Law

f. Homeowner’s

g. Insurable Interest

h. Insurance Company/Insurer

i. Insurance fraud

j. Insured

k. Joint Insurance

l. Medical Payments

m. Premium

n. Property Damage Liability

o. Renter’s

p. Risk management

q. Underwriter

r. Uninsured and Underinsured Motorist

s. Whole Life

4 0
3 years ago
Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Income taxes
erik [133]

Answer:

The amount of net pay recorded by Hernandez is $380,650

Explanation:

Gross Pay                      $500,000

Income Tax                      $63,000

Social security              $31,000

Medicare                      $7,250

Charitable contribution      $5,000

Union Dues                      $10,000

Unemployement Tax      $3,100

Net Pay                              $380,650

Therefore, The amount of net pay recorded by Hernandez is $380,650

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3 years ago
True or False: An increase in the demand for notebooks raises the quantity of notebooks demanded but not the quantity supplied.
Natasha2012 [34]

Answer:

False

Explanation:

An increase in the demand for notebooks raises the quantity of notebooks demanded and also the quantity supplied

An increase in demand leads to a corresponding increase in supply

If the supply is not raised which will also increase the quantity of notebooks supplied, there will not be enough notebooks to meet the high demand for notebooks which brought about an increase in the quantity of notebooks demanded

4 0
3 years ago
Read 2 more answers
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