economics 104 short paper assignment 1
Please answer one of the two the question below.(one page minimum 12 point front, normal margins, single-spaced)
1. Do we have a good understanding as to how extensive unemployment is at any given time in the United States? For example, the official U-3 unemployment rate today is 3.5 percent. In November, 2016, the official U-3 rate was 4.6 percent. But at that time, then candidate and now President Trump said he “doesn’t believe these phony numbers†on unemployment, and suggested then that the actual rate at that time was probably closer to 30 percent and could have been as high as around 42 percent. How can one explain these wide differences in perspectives?
2. In 1946, the U.S. government established the Employment Act, which committed the government to establish full employment as a central goal of government policy. But given that the U.S. economy is capitalist, was it realistic then, and is it realistic now, for the economy to operate at full employment?
There is also part 2 of this assignment
Describe in one paragraph the topic for your term paper. Include in this discussion at least 2-3 references on which you will be drawing in developing the term paper, and how you intend to use these references.
