Author Question: A critical function of the government in facilitating the operation of a market economy is A) ... (Read 13 times)

OSWALD · **on:** Jun 29, 2018

A critical function of the government in facilitating the operation of a market economy is

A) controlling the market prices of food items.
B) ensuring an equal distribution of income to all citizens.
C) producing goods and services for low-income households.
D) setting up and enforcing private property rights.

Question 2

Describe the alternative measures of unemployment.

What will be an ideal response?

bd5255 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

D

Answer to Question 2

The Bureau of Labor Statistics keeps track of 6 alternative measures of unemployment:
U-1 measures long-term unemployment. It counts as unemployed only workers who have been unemployed for 15 or more weeks.
U-2 measures job losers; that is, only workers who lost their jobs (as opposed to quitting or reentering the labor market) are counted as unemployed.
U-3 is the conventional measure of unemployment.
U-4 adds discouraged workers to the conventional measure of unemployment.
U-5 adds all marginally attached workers to the U-4 measure of unemployment.
U-6 adds part-time workers who would like a full-time job (economic part-time workers) to the U-5 measure of unemployment.