ECO 203 Week 2

ECO 203 Week 2 Quiz

Discussion Questions

Visit the Bureau of Labor Statistics and click on the links for state employment and unemployment. Look at your home state and describe what changes have taken place in the workforce and unemployment rate. Has the labor force participation rate gone up or down? Provide an explanation for the rate change. Are your states experiences the same as the rest of the country? Provide an explanation of why your states experiences are the same or different from the rest of the country.

With each of the following examples, please explain what happens to contributions to GDP and economic growth in each of the following statements:

a. A woman who makes a living charging for investment advice on her Internet website marries one of her clients, to whom she now provides advice at no charge.

b. A tennis player wins two top professional tournaments as an unpaid amateur, meaning the tournament sponsor does not have to pay out his share of prize money.

c. A public utility installs new antipollution equipment in its smokestacks.

Respond to at least two of your classmates postings.