曼昆经济学原理英文版文案加习题答案28章.docx

曼昆经济学原理英文版文案加习题答案28章.docx

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曼昆经济学原理英文版文案加习题答案28章

WHAT’SNEWINTHESEVENTHEDITION:

AnewIntheNewsfeatureon“WhyHasEmploymentDeclined”hasbeenaddedandallstatisticsandtableshavebeenupdated.

LEARNINGOBJECTIVES:

Bytheendofthischapter,studentsshouldunderstand:

Øthedatausedtomeasuretheamountofunemployment.

Øhowunemploymentcanresultfromminimum-wagelaws.

Øhowunemploymentcanarisefrombargainingbetweenfirmsandunions.

Øhowunemploymentresultswhenfirmschoosetopayefficiencywages.

CONTEXTANDPURPOSE:

Chapter15isthefourthchapterinafour-chaptersequenceonthelevelandgrowthofoutputinthelongrun.InChapter12,welearnedthatcapitalandlaborareamongtheprimarydeterminantsofoutputandgrowth.InChapter13,weaddressedhowsavingandinvestmentincapitalgoodsaffecttheproductionofoutput.InChapter14,welearnedaboutsomeofthetoolspeopleandfirmsusewhenchoosingcapitalprojectsinwhichtoinvest.InChapter15,weseehowfullutilizationofourlaborresourcesimprovesthelevelofproductionandourstandardofliving.

ThepurposeofChapter15istointroducestudentstothelabormarket.Wewillseehoweconomistsmeasuretheperformanceofthelabormarketusingunemploymentstatistics.Wewillalsoaddressanumberofsourcesofunemploymentandsomepoliciesthatthegovernmentmightusetolowercertaintypesofunemployment.

KEYPOINTS:

∙Theunemploymentrateisthepercentageofthosewhowouldliketoworkwhodonothavejobs.TheBureauofLaborStatisticscalculatesthisstatisticmonthlybasedonasurveyofthousandsofhouseholds.

∙Theunemploymentrateisanimperfectmeasureofjoblessness.Somepeoplewhocallthemselvesunemployedmayactuallynotwanttowork,andsomepeoplewhowouldliketoworkhaveleftthelaborforceafteranunsuccessfulsearchandthereforearenotcountedasunemployed.

∙IntheU.S.economy,mostpeoplewhobecomeunemployedfindworkwithinashortperiodoftime.Nonetheless,mostunemploymentobservedatanygiventimeisattributabletothefewpeoplewhoareunemployedforlongperiodsoftime.

∙Onereasonforunemploymentisthetimeittakesforworkerstosearchforjobsthatbestsuittheirtastesandskills.Thisfrictionalunemploymentisincreasedasaresultofunemploymentinsurance,agovernmentpolicydesignedtoprotectworkers’incomes.

∙Asecondreasonoureconomyalwayshassomeunemploymentisminimum-wagelaws.Byraisingthewageofunskilledandinexperiencedworkersabovetheequilibriumlevel,minimum-wagelawsraisethequantityoflaborsuppliedandreducethequantitydemanded.Theresultingsurplusoflaborrepresentsunemployment.

∙Athirdreasonforunemploymentisthemarketpowerofunions.Whenunionspushthewagesinunionizedindustriesabovetheequilibriumlevel,theycreateasurplusoflabor.

∙Afourthreasonforunemploymentissuggestedbythetheoryofefficiencywages.Accordingtothistheory,firmsfinditprofitabletopaywagesabovetheequilibriumlevel.Highwagescanimproveworkerhealth,lowerworkerturnover,raiseworkerquality,andincreaseworkereffort.

CHAPTEROUTLINE:

I.Unemploymentcanbedividedintotwocategories.

A.Theeconomy’snaturalrateofunemploymentreferstotheamountofunemploymentthattheeconomynormallyexperiences.

B.Cyclicalunemploymentreferstotheyear-to-yearfluctuationsinunemploymentarounditsnaturalrate.

II.IdentifyingUnemployment

A.HowIsUnemploymentMeasured?

1.TheBureauofLaborStatistics（BLS）surveysabout60,000householdseverymonth.

2.TheBLSplaceseachadult（age16orolder）intooneofthreecategories:

employed,unemployed,ornotinthelaborforce.

Figure1

3.Definitionoflaborforce:

thetotalnumberofworkers,includingboththeemployedandtheunemployed.

4.Definitionofunemploymentrate:

thepercentageofthelaborforcethatisunemployed.

5.Definitionoflabor-forceparticipationrate:

thepercentageoftheadultpopulationthatisinthelaborforce.

6.Example:

Datafrom2012.Inthatyear,therewere142.5millionemployedpeopleand12.5millionunemployedpeople.

a.LaborForce=142.5+12.5=155.0million.

b.UnemploymentRate=（12.5/155.0）×100=8.1%.

c.Becausetheadultpopulationwas243.3million,thelabor-forceparticipationratewas:

Labor-ForceParticipationRate=（155.0/243.3）×100=63.7%.

ALTERNATIVECLASSROOMEXAMPLE:

ThecountryofBadahascollectedthefollowinginformation:

Population240,000

Employed180,000

Unemployed30,000

LaborForce=180,000+30,000=210,000

Unemploymentrate=（30,000/210,000）×100=14.3%

Labor-forceparticipationrate=（210,000/240,000）×100=87.5%

Table1

7.Table1showsunemploymentandlabor-forceparticipationratesforvarioussub-groupsoftheU.S.population.

a.Womenofprimeworkingage（25to54yearsold）havelowerratesoflabor-forceparticipationthanmen,butonceinthelabormarket,menandwomenhavesimilarratesofunemployment.

b.Prime-ageblackshavesimilarlabor-forceparticipationratesasprime-agewhites,buttheyhavemuchhigherratesofunemployment.

c.Teenagershavemuchlowerratesoflabor-forceparticipationandmuchhigherratesofunemploymentthanolderworkers.

Figure2

8.Figure2showstheunemploymentrateintheUnitedStatessince1960.

B.Definitionofthenaturalrateofunemployment:

thenormalrateofunemploymentaroundwhichtheunemploymentratefluctuates.

C.Definitionofcyclicalunemployment:

thedeviationofunemploymentfromitsnaturalrate.

D.CaseStudy:

Labor-ForceParticipationofMenandWomenintheU.S.Economy

1.Therehasbeenadramaticriseinthelabor-forceparticipationratesofwomenoverthepast60years.

Figure3

2.Figure3showsthisriseinthelabor-forceparticipationrateofwomen.Thefigurealsoshowsthatthelabor-forceparticipationratesformenhaveactuallyfallenbyasmallamountoverthesametimeperiod.

E.DoestheUnemploymentRateMeasureWhatWeWantItTo?

1.Measuringtheunemploymentrateisnotasstraightforwardasitmayseem.

2.Thereisatremendousamountofmovementintoandoutofthelaborforce.

a.Manyoftheunemployedarenewentrantsorre-entrantslookingforwork.

b.Manyunemploymentspellsendwithapersonleavingthelaborforceasopposedtoactuallyfindingajob.

3.Theremaybeindividualswhoarecallingthemselvesunemployedtoqualifyforgovernmentassistance,yettheyarenottryinghardtofindwork.Theseindividualsaremorelikelynotapartofthetruelaborforce,buttheywillbecountedasunemployed.

4.Definitionofdiscouragedworkers:

individualswhowouldliketoworkbuthavegivenuplookingforajob.

a.Theseindividualswillnotbecountedaspartofthelaborforce.

b.Thus,whiletheyarelikelyapartoftheunemployed,theywillnotshowupintheunemploymentstatistics.

Table2

5.Table2presentsothermeasuresoflaborunderutilizationcalculatedbytheBureauofLaborStatistics.

Activity1—WhoIsUnemployed?

Type:

In-classassignment

Topics:

Unemploymentcategories

Materialsneeded:

None

Time:

5minutes

Classlimitations:

Worksinanysizeclass

Purpose

Thisassignmenthelpsfamiliarizestudentswithlabor-forcestatistics.

Instructions

Askthestudentstoclassifyeachofthefollowingindividualsinoneofthefollowingcategories:

employed,unemployed,ornotinthelaborforce.

1.Steveworked40hourslastweekinanofficesupplystore.

2.Lastweek,Elizabethworked10hoursasacomputerprogrammerfortheNationalVideoCompanyandattendednightclassesatthelocalcollege.Shewouldpreferafull-timejob.

3.RogerlosthisjobattheR-goneManufacturingCompany.Sincethenhehasbeentryingtofindajobatotherlocalfactories.

4.Lindaisahomemaker.Lastweekshewasoccupiedwithhernormalhouseholdchores.Sheneitherheldajobnorlookedforajob.

5.Linda’sfatherisunabletowork.

6.ScotthasaPh.D.Heworkedfull-timebutdoesnotlikehisjobasadishwasher.Hehasappliedforjobswiththreecompaniesandfiveuniversities.Assoonashegetsanoffer,hewillquithiscurrentjob.

7.Mary-Helenhasbeenoutofworkforafullyear.Shewouldtakeajobifitwasoffered,butnolocalcompaniesarehiring.Sheisnotactivelysearchingforwork.

CommonAnswersandPointsforDiscussion

Steve,Elizabeth,andScottareemployed.Rogerisunemployed.Linda,Linda’sfather,andMary-Helenarenotinthelaborforce.

Thisassignmentcanalsobeusedtodiscussmeasurementproblemssuchasunderemployment（ElizabethandScottareexamples）anddiscouragedworkers（Mary-Helenprovidesanexample）.

F.HowLongAretheUnemployedwithoutWork?

1.Anotherimportantvariablethatpolicymakersmaybeconcernedwithisthedurationofunemployment.

2.Mostspellsofunemploymentareshort,andmostunemploymentobservedatanygiventimeislongterm.

G.WhyAreThereAlwaysSomePeopleUnemployed?

1.Inanideallabormarket,wageswouldadjustsothatthequantityoflaborsuppliedandthequantityoflabordemandedwouldbeequal.

2.However,thereisalwaysunemploymentevenwhentheeconomyisdoingwell.Theunemploymentrateisneverzero;itfluctuatesaroundthenaturalrate.

a.Definitionoffrictionalunemployment:

unemploymentthatresultsbecauseittakestimeforworkerstosearchforthejobsthatbestsuittheirtastesandskills.

b.Definitionofstructuralunemployment:

unemploymentthatresultsbecausethenumberofjobsavailableinsomelabormarketsisinsufficienttoprovideajobforeveryonewhowantsone.

c.Threepossiblereasonsforstructuralunemploymentareminimum-wagelaws,unions,andefficiencywages.

H.FYI:

TheJobsNumber

1.WhentheBureauofLab