Labour market & Unemployment (L6)

Question 1

unemployment rate

Answer 1

unemployed/labour force (employed+unemployed)
or s/f+s

Question 2

job finding rate

Answer 2

fraction of unemployed workers (f)

Question 3

job separating rate

Answer 3

fraction of employed losing their job (s)

Question 4

unemployment

Answer 4

sE-fU
separation ratexemployed -finding ratexunemployed

Question 5

employed

Answer 5

unemployed-labour force

Question 6

output per effective worker considering unemployment

Answer 6

(K/AL)^a x(1-a)^1-a
or k(1-a)^1-a

Question 7

base for all steady states

Answer 7

sy=(n+g+d)k

Question 8

Unemployed steady state fraction

Answer 8

S/ s+f