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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Unit 3 DQ1_Macroeconomics

Unit 3 DQ1_Macroeconomics

Q 1. Explain each of these positions, giving some examples of what might cause the official rate to be either too high or too low. 2. Personally reflect on whether you think we should make any changes to how we calculate unemployment? If so, what would you propose? (Support your answers with academic journal articles.) 3. Scenario: What if academic inflation caused the creation of a law that required an Associate’s degree to earn minimum wage. How would that affect the economy and you personally?

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The unemployment rate is considered to be the percentage of the number of unemployed workers who are being involved in the labor force. Because of the unemployment, the number of people who are employed gets affected to a great extent. But it needs to be kept in mind that while calculating the unemployment rate, the discouraged workers should not be taken into account. These discouraged workers and the part time workers do fall under the understand form of category while legal employment and illegal unemployment falls under the over stated category.