Rasmussen Module 4 Phases of the Business Cycle Questions Assignment our phases of the business cycle consist of: A depression phase A recessionary phase

Rasmussen Module 4 Phases of the Business Cycle Questions Assignment our phases of the business cycle consist of:

A depression phase
A recessionary phase
Recovery phase
An expansionary phase

During a recessionary phase of the business cycle would be the most desirable time to purchase large ticket items due to lower levels of inflation and interest rates.

During an expansionary phase of the business cycle would be the least desirable time to purchase large ticket items due to higher levels of inflation and interest rates.

Our labor force is consisted of both employed and unemployed workers.

Labor Force Participation Rate (LFPR) =

The term “full employment” implies that all willing and able people who can work are actively engaged in the labor force. “Full employment” suggests that our country’s unemployment rate is between 3-6%. Our country will never achieve zero-percent unemployment since our economy will always experience a natural rate of unemployment.

Natural Rate of Unemployment = Frictional unemployment + Structural unemployment

Frictional unemployment are workers who are unemployed, but they have transferable job skills and they are in-between jobs.

Structural unemployment are workers who have mismatched job skills.

Discouraged workers are workers who have been out of work for four or more weeks. These individuals are not applying for open positions, are not registered at their local job service, and are not going on any interviews. They have become very discouraged and have left the labor force.

Unemployed workers are applying for open positions, are going on interviews, and are registered at their local job service. They are actively seeking employment.

Employed workers can range from workers who work from 1-hour to 40-hours plus per week.

Four causes of unemployment include:

Job losers
Job leavers
Re-entrants
New entrants

Four types of unemployment:

Seasonal unemployment
Frictional unemployment
Structural unemployment
Cyclical unemployment

Inflation is defined as an increase in overall prices across the board. Credit by Assessment Module 4
Your task is to complete all assigned questions to the best of your ability. Best of luck!
What are the four phases of the business cycle?
Which phase of the business cycle would be the best time to purchase a large ticket item?
How do you calculate the labor force participation rate?
Who is accounted for in our country’s labor force?
How is our country’s unemployment rate calculated?
In one to two sentences, please define the term, “full employment?”
In one to two sentences, what is a discouraged worker?
What are the four types of unemployment?
Which type of unemployment is the direct cause of our country (economy) contracting?
In one to two sentences, please define, inflation?

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