11 May CALCULATE HOW MANY OF CIVILIAN LABOR FORCE IN RIVERSIDE WOULD FALL INTO EACH TYPE OF UNEMPLOYMENT
Suppose you are a junior macroeconomists working for an economic consulting firm in California. Recently you are assigned to tasks with four important economic issues.
Task 1: Categorize the following groups of people by different types(structural, cyclical, or frictional) of unemployment and report it to the BLS (Bureau of Labor Statistics) in a month. The document you receive has the following information:
“There are 330,000 people reside in Riverside. Among them, 40% of the population is civilian labor force. The 15% of civilian lost their jobs because their job skills are not required any longer. 30% of civilian workers are unemployed because the economy is busted. 55% of remaining civilian workers are actively looking for jobs.”
Classify civilian labor force in Riverside into one of the following unemployment types: structural, cyclical, and frictional unemployment and explain why
Calculate how many of civilian labor force in Riverside would fall into each type of unemployment
Task 2: You were notified by researchers from the BEA (Bureau of Economic Analysis) that a recent growth in consumer’s confidence index decreased by 20%, while recent technological breakthrough in medical and cell phone industries led to a cost savings and an increased productivity across the nation.
(Note that consumer confidence index (CCI) measures the degree of optimism that consumers feel about the overall state of the economy, and the higher the CCI, the higher the consumption.)
Discuss the change in price level and real GDP based on the events occurring in the scenario (Hint: study aggregate demand and supply shifters)
Task 3: Recently, the US began to import wine from France. There are some opponents that argue imports will cut the price of domestic wine, leading to a decrease in the number of jobs in the US wine industry.
Provide counter-evidence that imports will bring overall benefits to our nation in terms of improving the total welfare (sum of consumer and producer surplus).
Task 4: The exchange rate between dollar (US currency) and yen (Japan currency) was 120¥/$; and the exchange rate between dollar (US currency) and euro is 1.3€/$ in 2014, and the exchange rate increased to 130¥/$ and 1.5€/$, respectively in 2015.
Predict the pattern of export and import between those three countries in 2015 compared to 2014. In other words, would exports from US to Japan and European countries increase or decrease? Would imports from Japan and European countries to US increase or decrease?
Questions
**Choose three from four available tasks above, and write an economic report using at least 200 words for each task. (This means the total number of words must be 600 for three tasks, at the minimum) The essay will be graded based on the grade rubric which you can find in week 8 learning activities. Make sure you provide biblical perspectives in your report.
You also need to include any references (including textbook) using the appropriate APA format.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.