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ECON 2301 Spring Worksheet Assignment
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PRINCIPLES OF MACROECONOMICS

Spring Worksheet Assignment-Cover Sheet

Student’s Name: _______________________________________

Class: ECON 2301________ Section: _____________________

Date: ------------------

Assignment Instructions
Be sure to show all your workings and how you arrived at your answer.  Label your diagrams clearly (where applicable).  Your work must be typed and submitted electronically (via ecampus). You may complete your work in the space provided in this worksheet.  Include the worksheet and cover sheet in your uploaded final work
Note: You will receive no scores if you fail to adhere to the above instructions.
Ref the link below for info/tutorial on how to submit your work on ecampus. Click on the link or copy and paste the same to your browser

http://ecampus.support.dcccd.edu/v91/studenttutorials/StudentAssignmentv91/StudentAssignmentv91.htm

Question 1 Instructions: Fully answer all the questions below

a.    Define unemployment. (10 points)

b.    The natural rate of unemployment estimated by Economists at the Congressional Budget office for the United States is 5.5%. Using the Bureau of Labor Statistics data above for monthly unemployment rates, calculate the cyclical unemployment for the months of February and March of 2014. (20 points)

Assessment Codes CT, EQS, VC

2014
2015

Population

224
227

168
170

#Unemployed

7
8

# Employed

105
104

Question 2 Instructions:  Using the data above for a hypothetical economy
a.    Calculate the unemployment rates for 2014 and 2015 (You must show your work to receive full credit). (20 points).

b.    Calculate the labor force participation rates for 2014 and 2015 (You must show your work to receive full credit). (20 points)

c.    Fully describe the factors that account for the differences in the labor participation rates of both years. (30 points)

Assessment Codes CT, VC, WC EQS

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ECON 2301 Spring Worksheet Assignment
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