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What are the conceptual problems in measuring unemployment, and why is this such a key indicator of the economic well-being of our nation?
Measurement of Unemployment rate has various problems:
1) It doesn't take into consideration discouraged workers
2) It doesn't capture long run unemployment rate.
3) It doesn't differentiate between part-time and full time workers. Workers who worked for an hour are also considered as employed.
4) it doesn't take report disguised unemployment
5) It doesn't reflect the payments structure.
Unemployment rate is the rate of unemployed to the total labour force. It is an important factor for determining economic well-being because a high unemployment rate is associated with low economic activity in a country and thus implying more people are unemployed and thus poverty and inequality are high in such economy.
What are the conceptual problems in measuring unemployment, and why is this such a key indicator...
Provide four reasons why the unemployment rate may not be a very reliable indicator of the underutilization of labour
What is GDP? What is real GDP? What are the problems in taking real GDP as an indicator of well-being? How and why is the measurement of real GDP ambiguous.
what are some problems that arise when measuring economic inequality?
1.How is gross domestic product (GDP) defined? How is GDP per capita calculated and why is it used as a common measure of economic well-being? Despite its wide-spread use there are some problems with GDP per capita as a measure of well-being. 2.Briefly explain the components used to calculate GDP (be explicit, don't just put the letter). Fully explain one method of measuring GDP (hint: use one of the components mentioned as an example) 3.What is full employment and how...
View a video about measuring gross national happiness: Write a discussion post that answers the following questions: Does the GDP really measure happiness? Why or why not? What elements of happiness do wealth and productivity miss? What elements of happiness do they measure? What is the HDI indicator? What do you think this indicator would say about the United States’ well-being? Explain.
What is the key difference between financial statement analysis and operating indicator analysis? How are these types of analyses useful to healthcare managers and investors? Consider a healthcare organization with which you are familiar and discuss what are some of the problems or challenges inherent in financial statement analysis?
What are the benefits and problems of Economic Statistics, such as GDP, inflation, Unemployment Rates, and others. Are they more headache than useful? What other alternatives do we have to these statistics and are they can any better improvements.
3. What is the relationship between frictional unemployment and the natural rate of unemployment? Why does frictional unemployment differ among different age groups in the population? If a society is aging overall, how will this affect unemployment? Be as thorough as possible. 2. Explain the benefits and drawbacks for unemployment insurance. Explain the benefits and drawbacks to the minimum wage. How do these policies affect work incentives? Be as thorough as possible. In 2012, the imaginary nation of Bovina had...
3. Why might the unemployment rate be considered an incomplete indicator of the health of the labor market? I. Because it does not measure how well people are matched to the jobs they do. II. Because the definition of discouraged workers is not clear III. Because it does not correctly define the adult population A) I and II only are correct B) I and III only are correct C) II and III only are correct D) I, II, and III...
Sometimes the mean is poor indicator of a distribution's location and median is used instead. One instance of this situation is reporting salaries as a description of economic well-being: the median is usually reported instead of the mean. Why do you think this is the case? What shape do you think the distribution of salaries takes? Where do outliers occur in such a distribution?