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MACRO-Economics: This has two parts
PART ONE: Below are two graphs showing unemployment and GDP growth data. The gray areas show time periods when the United States experienced recessions. Look at the graphs above and answer the following questions using complete sentences. Make sure to number your responses.
Unemployment Data Graph & FRED GDP Growth Graph1 attached as screenshot.
What happens to the unemployment rate when there is a recessionary period? (2 points)
What happens to GDP in recessionary periods? (2 points)
Approximately how much did the unemployment rate change during the Great Recession (2008-2009)? (2 points)
Approximately how much did GDP growth dip during the Great Recession (2008 – 2009)? (2 points)
In September 2008 the CPI was approximately 219 and in March 2009 the CPI was approximately 212. Does this indicate that the great recession was a result of decreasing Aggregate Demand or decreasing Short-Run Aggregate Supply? (2 points) Hint: Draw yourself an AD/AS graph and then see which line shifting to the left causes the price level to decrease.
PART Two: GO TO -˃ https://www.crfb.org/debtfixer and play it. Take a screenshot of your final results. You should find them on the right hand side of the final page. Now you are ready to complete the assignment:
1. Post the screenshot of your results? (2 points)
2. What was your goal for the simulation? (2 points)
3. What were the guiding principles you used when making your choices? (2 points)
4. What is an example of something you value that you had to give up in order to make progress toward managing the debt? (2 points)
5. How did completing this simulation change the way you think about the things government should provide given the constraints of tax revenues? (2 points)
PART THREE: Below you will find a list of individuals. Your task is to sort individuals into three categories: employed (E), unemployed (U), and not in the labor force (N). You will do this by reading desсrіptions of the individuals and assigning them the definitions of unemployed, employed, or not in the labor force. In some cases, you may not be sure, but make your best guess based on the available information.
As a reminder, here are the definitions:
Employed: The individual has a full-time or part-time paid job; this can include self-employment. Individuals who are employed are considered to be in the labor force.
Unemployed: The individual does not have a job but has looked for a job sometime in the past 4 weeks. Individuals who are unemployed are considered to be in the labor force because they have been recently looking for work.
Not in the Labor Force: Neither employed nor unemployed. The individual does not have a job and has not
looked for work in the past four weeks.
Chen: Works for the county government, managing finances.
Susanna: Takes college classes full-time and waits tables part-time at a restaurant in the evenings.
Edward: Retired and does volunteer work on Sundays.
Muhammad: Was laid off in the last recession and gave up looking for work; has not looked for 2 months.
Rosa: Recently left a job because of a move and is applying for a similar job in her new city.
Alex: Has a disability that impacts his ability to work. He is not currently employed or looking for a job.
Samra: Teaches high school chemistry.
Javier: Quit a job he hated and posted his resume on a job search Web site 2 weeks ago.
Yuki: Lost a job in manufacturing and is in school, retraining for a different career.
Casey: Recently graduated and attends job fairs.
Kazim: Has a part-time job as a personal trainer but would like to work more hours.
Eun-Mi: Has several part-time jobs: hand model, web site designer, and consultant.
Taylor: Stays at home full time to take care of children.
Mandeep: Runs his own business, catering corporate events.
Gustavo: Quit his stockbroker job and is traveling the world for a year to “find himself.”
Alice: Would like a job but gave up looking because of a bad job market. The last job application she submitted was 3 weeks ago.
Wei: Retired air force veteran; likes knitting.
Stephen: Was laid off and does not expect to be called back to work. He has looked for other jobs to be safe.
Min-Su: Human resources manager at a law firm.
Amita: Works as a police officer in Los Angeles County.
Use this data to calculate the unemployment rate, employment-to-population ratio, and labor force participation rate.
Unemployment rate ＝ # unemployed / labor force × 100
Employment-to-population ratio ＝ # employed / total population × 100
Labor force participation rate ＝ labor force / total population × 100
Submit IN THIS FORMAT. (Copy and Paste and then fill in):
Total Employed: ______
Total Unemployed: ______
Total Not in Labor Force: ______
Unemployment Rate: ______
Employment to Population Rate: _____
Labor Force Participation Rate: ______
I would be classified as ___________________ because I ________________________________.
Grading Guidelines: You will receive 1 point each for the first 3 blanks. You will receive 2 points each for the three employment statistic calculations. These must be correct based on your prior numbers to receive credit. You will receive 1 point for your personal statement of your employment status and explanation.
Part FOUR: Use this calculator -˃ https://www.nerdwallet.com/investing/roth-ira-calculator to calculate how much money you would have if you invest $6500 each year in a Roth IRA versus an account with no tax advantages.
Use the following parameters:
Age: 22
Income: $45,000
Starting Balance: $0
Marital Status: Single
This calculator assumes a 6% rate of return. Keep in mind the reason you are seeing such different dollar amounts is that with a RothIRA you don′t have to pay tax on the money babies that your investment creates over the years and with a taxable investment, you do.
When you are done, take a screenshot or upload your results as this is needed for completion
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