ECN 150: Graded Assignment #2 Answers
ECN 150: Graded Assignment #2 Answers ECN 150
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This 3 page Bundle was uploaded by Alexis Ibarra on Wednesday March 2, 2016. The Bundle belongs to ECN 150 at La Salle University taught by Francis Thomas Mallon in Summer 2015. Since its upload, it has received 28 views. For similar materials see Macroeconomics in Economcs at La Salle University.
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Date Created: 03/02/16
Graded Assignment #2 SAMPLE ANSWERS 1. Year January Unemployment Rate (%) 2005 5.3 2006 4.7 2007 4.6 2008 5.0 2009 7.8 2010 9.8 2011 9.1 2012 8.3 2013 8.0 2014 6.6 2015 5.7 2. Year 1 Q Unemployment Rate (%) 2005 10.17 2006 9.03 2007 8.42 2008 9.6 2009 17.24 2010 19.84 2011 21.08 2012 24.19 2013 26.94 2014 25.93 2015 23.78 3. According to the graphs, it looks like the United States took a more Keynesian approach to solving the increasing unemployment rate in 2009. In both graphs, there is a sharp increase in the unemployment rate from 20082010. However, the United States graph shows a decrease in unemployment in the following years, while the Spain graph shows a continuous increase in unemployment in the following years. This leads me to believe that the United States government took the Keynesian approach and intervened right away to decrease unemployment while the government in Spain let the economy go and eventually gravitate back to a decreasing unemployment rate 4 years later on its own. 4. Based on the statistics found in answering questions 1 and 2, the United States proved to be more effective in the way they responded to the economic challenges. The United States was more effective because their government was able to intervene right when the unemployment rates started to rise and they were able to decrease the unemployment rate for the next 5 years. Spain, however, let the unemployment rate continue to rise from 20082013 and only then, in 2013, did the rate start to decrease very slowly. As of 2015, the United States unemployment rate is 18.08% lower than that of Spain.
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