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business
economics 14th global

Questions and Answers of Economics 14th Global

Explain the major approaches for reducing unemployment in the United States. LO6
Explain how unemployment can cause economic insecurity. LO3
Briefly explain the major types of unemployment in the United States.LO3
Briefly explain how the national unemployment rate is determined.LO3
What are the limitations of the total unemployment rate as a tool for measuring unemployment and labor market conditions?LO3
Identity the groups that are currently experiencing relatively high unemployment rates.LO3
Explain the meaning of underemployment of human resources.LO3
Explain how monetary policy and discretionary fiscal policy can reduce unemployment during recessions and periods of slow economic growth.LO3
Explain the limitations of monetary policy in reducing unemployment. What are the limitations of discretionary fiscal policy in reducing unemployment?LO3
What are the limitations of training and education programs in reducing unemployment?LO3
Explain how federal tax credits can reduce unemployment for certain groups.LO3
The Bureau of Labor Statistics provides detailed information on unemployment at the national, state, and local level. Go to www.bls.gov/lau/home.htm.See “Latest Numbers” and answer the following
Kelly, age 35, spends most of her time at home taking care of her home and children. However, she works all day Friday and Saturday in her husband’s computer store. She receives no compensation for
James, age 28, was laid off by an auto manufacturer when the firm began retooling to produce a new model car. He knows he will be called back to work when the model changeover is completed. Although
Courtney, age 22, is a junior at a large midwestern university. In late March, she filed applications for summer jobs with three companies. However, she does not want to start work until June 15
Explain the basic objectives of unemployment compensation. LO1
Explain the eligibility requirements that must be met to receive weekly unemployment compensation benefits. LO2
Understand the major provisions of unemployment compensation laws, including: LO3– Coverage– Benefit amounts– Qualifying wages– Duration of benefits
Identify the major situations that can disqualify unemployed workers from receiving benefits. LO4
Describe the permanent extended-benefits (EB) unemployment insurance program. LO5
Explain how state unemployment compensation programs are financed. LO6
Explain the major arguments for and against experience rating in the financing of benefits. LO7
Describe the basic features of temporary disability insurance laws that exist in five states and Puerto Rico. LO8
Explain the primary and secondary objectives of unemployment compensation programs. LO8
Identify the occupations typically excluded for state unemployment compensation benefits or those for which the coverage is less than complete. LO8
Describe the typical eligibility requirements to receive regular state unemployment compensation benefits. LO8
Identify the situations that can disqualify a worker from receiving unemployment compensation benefits. LO8
Briefly explain how the weekly unemployment benefit amount is calculated. LO8
Briefly explain the major characteristics of the permanent extended-benefits(EB) program. LO8
Why has Congress found it necessary at times to enact special temporary legislation that provides additional weeks of benefits to unemployed workers? LO8
Explain how state unemployment compensation programs are financed. LO8
Explain the arguments for and against experience rating in the financing of state unemployment insurance programs. LO8
Describe briefly the major features of compulsory temporary disability insurance laws that exist in six jurisdictions and the railroad industry. In what respect do these laws complement the
Although eligibility requirements for unemployment compensation vary among the states, there are a number of common eligibility requirements.Assume that a worker meets the qualifying wages
Understand why the proportion of unemployed workers who receive unemployment compensation benefits has declined over time. LO1
Explain whether weekly unemployment compensation benefits are adequate in most states. LO2
Identify the major reasons why certain claims are disqualified for unemployment compensation benefits. LO3
Explain why millions of unemployed workers exhaust their benefits during periods of extended unemployment. LO4
Identify the defects now found in the permanent extended-benefits (EB) program. LO5
Explain whether the states have adequate trust fund reserves for the payment of unemployment compensation claims. LO6
Describe the major arguments for a higher taxable wage base in financing of unemployment compensation benefits. LO7
Explain the problem of misclassification of employees in the administration of unemployment compensation programs. LO8
Discuss the disincentive effects now present in unemployment compensation programs. LO9
Explain the defects of the 50 percent replacement standard in the payment of benefits. LO9
Explain the major reasons why only a small proportion of the unemployed receive unemployment benefits. LO9
What is the advantage of an alternative base period for purposes of determining whether unemployed workers have qualifying wages? LO9
Why are some claims disqualified for unemployment benefits? LO9
Briefly describe the problem of exhaustion of unemployment benefits by many unemployed workers. LO9
Explain the problem of inadequate financing that exists in most states. LO9
Explain the major advantages that would result from an increase in the taxable wage base for unemployment benefits. LO9
Explain the problem and relevance of the misclassification of employees by employers for unemployment insurance benefits. LO9
Describe the disincentive effects in unemployment compensation programs. LO9
Explain the counter-arguments to the proposition that unemployment insurance has strong work disincentives. LO9
During the 2007–2009 recession, debate in the U.S. Senate over an extension ofunemployment benefits to workers who had exhausted their benefits was oftenheated and contentious. A prominent U.S.
One of the most critical problems in unemployment compensation at thepresent time is the inadequate financing of benefits, which caused the majorityof states to deplete their trust fund accounts in
The Unemployment Insurance Modernization Act was included in the fiscalstimulus package of early 2009. The act was designed to modernize andmake corrections to serious defects found in existing state
Describe the basic characteristics of public assistance programs. LO1
Explain why public assistance programs are necessary. LO2
Show how public assistance programs differ from social insurance programs. LO3
Describe the basic characteristics of the Supplemental Security Income (SSI)program. LO4
Identify the basic characteristics of the Temporary Assistance for Needy Families(TANF) program. LO5
Explain the basic features of state-federal Medicaid programs. LO6
Explain the meaning of General Assistance programs. LO7
Describe briefly the generic characteristics of public assistance programs.LO3
Why are public assistance programs necessary?LO3
Explain the major differences between public assistance and social insurance.LO3
Describe the basic characteristics of the SSI program.LO3
Describe the eligibility requirements that children must meet to be eligible for benefits under the SSI program.LO3
Briefly explain the major characteristics of the Temporary Assistance for Needy Families program.LO3
What are the specific purposes of TANF programs?LO3
Describe the major characteristics of the Medicaid program.LO3
Identify the problems and issues in the current Medicaid program.LO3
What is a General Assistance program? Explain your answer.LO3
Compare the SSI program with the TANF program with respect to each of the following:a. Eligibility requirementsb. Groups that are coveredc. Benefits providedd. Financing
Medicaid is a major public assistance program that provides health care to certain low-income individuals and families. Answer the following questions with respect to current Medicaid programs.a.
Explain the major benefits available to eligible military veterans and members of the armed forces. LO1
Describe the major benefits under the Railroad Retirement Act. LO2
Identify the major benefits under the Railroad Unemployment Insurance Act. LO3
Describe the basic characteristics of the Civil Service Retirement System. LO4
Explain the basic characteristics of the Federal Employees Retirement System. LO5
Explain the major features of retirement plans for state and local government employees. LO6
Briefly describe the major benefits available to eligible military veterans and members of the armed forces. LO4
Explain the meaning of a service-connected disability and disability compensation that can be paid to disabled veterans. LO4
Briefly describe the benefits that are available to eligible employees under the Railroad Retirement Act. LO4
Briefly describe the benefits that are available to eligible employers under the Railroad Unemployment Insurance Act. LO4
Is the Railroad Retirement System financially solvent at the present time?Explain your answer. LO4
Describe the eligibility requirements that railroad employees must meet to collect (a) unemployment benefits, and (b) sickness benefits. LO4
Briefly describe the major benefits under the Civil Service Retirement System. LO4
Briefly describe the major benefits under the Federal Employees Retirement System. LO4
Explain the basic characteristics of the Thrift Savings Plan that is available to civil service employees and employees covered under the Federal Employees Retirement System. LO4
Identify the factors that have resulted in the underfunding of many state and local retirement plans. LO4
State and local governments typically provide defined-benefit retirement plans to eligible employees. Defined-benefit pension plans have certain common features.a. Briefly describe the following
Forrest, age 23, was honorably discharged from the U.S. Marine Corps after four years, which included two tours of duty in Iraq. He was severely wounded when his platoon engaged in a firefight with
The Original Medicare Plan consists of Hospital Insurance (Part A) and Medical Insurance (Part B). For each of the following losses, indicate whether the loss is covered under Medicare. If the loss
Compare the Original Medicare Plan with Medicare Advantage Plans with respect to each of the following:a. Choice of plan coverageb. Benefits provided by the planc. Need for a Medigap policy
Describe the problem of occupational injuries and identify the industries that have high incidence rates for occupational injuries. LO1
Explain the problem of occupational disease and identify the industries with high rates of occupational disease. LO2
Show how the costs of occupational injuries and disease are a financial burden to disabled workers, to employers, and to the economy. LO3
Explain some areas of concern in workplace safety and health, including workplace violence, alcohol and substance abuse on the job, and job stress. LO4
Explain the meaning of risk management and describe the major risk-management measures for reducing workplace accidents and disease. LO5

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