Does the overall unemployment rate offer and accurate picture of the impact of unemployment on each U.S. population group?…
Your assignment is worth 6 pts, and each of the questions must have at least a half of page of writing
In addition your answers must prescribe to APA format.. You must submit a cover page, each question in a page by itself, and your references page must be also in a page by itself. And, please do not forget to reference your in-text. Lastly your assignment must be submitted via “Safeassign” in order to obtain your max points your work must be original in at least 70%.
Answer the following questions:
– Does the overall unemployment rate offer and accurate picture of the impact of unemployment on each U.S. population group?
– If actual inflation exceeds anticipated inflation, who will lose purchasing power and who will gain?
– What did classical economists assume about the flexibility of prices, wages, and interest rates? What disagreements did Keynes have with classical economists?
– What effect did the financial crisis of 2008 have on the federal budget deficit?
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Question 1
When it comes to the impact of the unemployment rate on different groups, it does not show a full picture of the impact it has. One of the reasons is that different demographic groups have diverse unemployment rates, for instance, women are likely to be employed less than men are, African-American have high unemployment rate, and young people are likely to be unemployed, while educated people are likely to be employed (Pigou, 2013). Therefore, in these demographics, the rate of unemployment is not portrayed accurately. Finally, the unemployment rate does not include the unemployment period, especially for discouraged workers. When people give up finding jobs, they are no longer in the labor force thus the unemployment rate goes down despite the fact that fewer jobs.
(678 words)