Question
In: Economics
5 pts Currently, record numbers of Canadians are becoming unemployed due to the ongoing COVID-19 crisis....
5 pts
Currently, record numbers of Canadians are becoming unemployed due to the ongoing COVID-19 crisis. In this situation, how useful a measure is the unemployment rate? Briefly discuss.
Solutions
Expert Solution
Usefulness of the measure of unemployment rate is given
below-
1.The calculation is done by dividing the number of people
unemployed by the number of people employed or people in the labour
force.
2.Unemployment rate has been considered as the economic indicator,a
statistic which is helpful to understand the overall health of an
economy.
3.It is divided demographically in groups by - age or gender.Like
men in Canada have higher unemployment rate than women. Also higher
unemployment rate for youth are of long standing.
4.Measurement of unemployment is done on the basis of types of
unemployment. Like it is divided into two types Frictional and
Structural unemployment. It is then calculated how many are falling
under what category.
5.Racialized Canadians and Unemployment- That is racialized
Canadians have more labour force than non-racialized Canadians.9.2%
of racialized Canadians were unemployed compared to 7.3% of non
racialized Canadians.
Rahul Sunny answered 8 months agoRelated Solutions
Challenges faced by Canadians due to Covid-19 and the response of the Government to support the...
Challenges faced by Canadians due to Covid-19 and the
response of the Government to support the economy and people of
Canada.
Take into account the following questions while making the
presentation:
What is the issue?
What are the impacts of the issue on Canadian economy and
society?
What action has been taken to address the issue by the
Government, Individuals, and/or Groups including committees,
organizations, non-profits, etc.? You should research different
ways the issue has been addressed (tried to fix)...
Firm dynamics in the COVID-19 crisis. Analyze the impact of the COVID-19 crisis from a firm...
Firm dynamics in the COVID-19 crisis. Analyze the impact of the
COVID-19 crisis from a firm dynamics perspective. Assume that the
productivity of all firms is the product of an economy wide
parameter z times an idiosyncratic firm-level productivity that
varies by firm and over time as an AR(1) process. What does the
basic model predict regarding entry, exit, employment, wages? How
does the policy of loans converted to grants to keep employment at
the firm level affect the equilibrium?
Consider the repercussions that the current economic crisis (due to the Covid-19 pandemic) has on various...
Consider the repercussions that the current economic crisis (due
to the Covid-19 pandemic) has on various sectors of the Canadian
economy.
Briefly discuss how various sectors have been affected by the
lockdown that took place in Canada.
1. Many Americans are experiencing disruptions in their employment situations due to the COVID-19 crisis. The...
1. Many Americans are experiencing disruptions in their
employment situations due to the COVID-19 crisis. The Bureau of
Labor Statistics continue to collect and publish unemployment data
using the same definitions we studied in class. Categorize the
following individuals as employed, unemployed, or out of the labor
force.
a. A college student who has stopped driving for Uber 15 hours a
week has stopped doing so because of decreased demand. On the other
hand, he has started delivering food for...
Due to the ongoing COVID-19 pandemic, your employer closed down and retrenched all its employees. You...
Due to the ongoing COVID-19 pandemic, your employer closed down
and retrenched all its employees. You decided to return to your
hometown, a small town in the east coast of MARGATE. You noticed
that there was no food delivery service business in the town and
decided to start such a service using your cars. Your delivery
riders would collect the orders from food outlets in the town and
deliver the food to customers for a fee. However, you did not...
With the economic uncertainty and job insecurity due to the COVID-19 crisis, many consumers may increase...
With the economic uncertainty and job insecurity due to the
COVID-19 crisis, many consumers may increase their saving as a
precautionary measure. Explain in detail the predicted long-run
impact of an increase in national saving on the domestic interest
rate, net capital outflow, supply and demand of domestic currency
and exchange rate in a large open economy, holding other factors
constant. Explain your answer clearly in words. Do not provide
diagrams. (125 words maximum)
Due to Covid – 19 Pandemic that caused economics crisis, Bank of Canada had cut interest...
Due to Covid – 19 Pandemic that
caused economics crisis, Bank of Canada had cut interest rates; and
it is likely to announce further cuts even if interest rates went
into negative territory;
If we assume that, because of the
actions of Bank of Canada, the economy is fully recovered to the
extent that it developed an inflationary gap.
After this recovery that developed an inflationary gap, is Bank
of Canada going to increase or decrease the interest rates?
Based...
Due to Covid – 19 Pandemic that caused economics crisis, Bank of Canada had cut interest...
Due to Covid – 19 Pandemic that
caused economics crisis, Bank of Canada had cut interest rates; and
it is likely to announce further cuts even if interest rates went
into negative territory;
If we assume that, because of the
actions of Bank of Canada, the economy is fully recovered to the
extent that it developed an inflationary gap.
After this recovery that developed an inflationary gap, is Bank
of Canada going to increase or decrease the interest rates?
Based...
Due to Covid-19, a business owned by Mr. Nathan is currently facing cash flow problems due...
Due to Covid-19, a business owned by Mr. Nathan is currently
facing cash flow problems due to poor sales and the ongoing
obligations to pay salaries. Furthermore, due to the extreme
weather conditions, one of the business's warehouse was inundated
with floodwater causing thousands of ringgit of losses to the
inventory. As Nathan's insurance advisor, the student is required
to advise on the risk management steps to mitigate the risk of ill
health and accidents among the company's employees during...
In an essay of 3-5 paragraphs discuss the following: As a result of the Covid-19 crisis,...
In an essay of 3-5 paragraphs discuss the following: As a result
of the Covid-19 crisis, there have been periodic shortages of
medical supplies, personal protective equipment, manufactured goods
and food. Specifically identify one of these shortages and discuss
a pricing strategy that you believe would help alleviate the
shortage in an equitable and efficient manner. Why would your
suggested method of pricng work better than what is currently in
use?
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- A 19.34 g mixture of sugar (C12H22O11) and table salt (NaCl) is dissolved in 231 g...
- Young and Company claims that its pressurized diving bell will, on average, maintain its integrity to...
- 1) Alternative compiled code sequence using instructions in classes A, B, C. What is the average...
- An asset is purchased on January 1 for $48,700. It is expected to have a useful...
- Do we have any online or offline tool to convert c and cpp programs into MIPS...
- -what is the pH of HCl 0,1M and NaCl 0,1M mixed together solution? -What is the...
- function X=extractDWT(x_train,startS,endS,wStep,wRange) % x_train = input signal % startS = from second % endS = end...
ADVERTISEMENT