Define and explain unemployment



Define and explain unemployment (10 points)

B.    From the given data above calculate and explain unemployment rates for 2014 and 2015(10 points)

Assessment Codes CT, WC, EQS

Given the national income (NI) data below (All figures are in billions of dollars).

C.    Compute National Income (NI) (10 points)

The Inflation data above shows the prices and the quantities consumed in a college bookstore. Using 2011 as the base year

D.    Calculate the inflation rate between 2012 and 2013 using the CPI approach.Calculate inflation using the GDP deflator index and explain why consumer price index (CPI) overstates inflation when compared to inflation rate determined by using GDP deflator (15 points)


Assessment Codes CT, WC, EQS

 Question 2.

Using data from the Bureau of Labor Statistics (BLS) Tables 2 and 3 in the months of August

2015 Seasonally Adjusted, compare and contrast Labor force participation rates (LFPR)  

of four demographic groups-Whites, African –American, Asian and Hispanic.

Evaluate and discuss the differences in their LFPR (25 points)

Assessment Codes CT, WC, EQS




Question 3

Different societies view unemployment differently. Some view it as a social ill and others as an economic problem. In 250 words discuss how unemployment is viewed in your culture. (Africa)Compare and contrast unemployment remedies of your culture with that of any other culture.  Cite your work. (30 points)


Assessment Codes WC, SR

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