Calculate how many of civilian labor force in Riverside would fall into each type of unemployment.would exports from US to Japan and European countries increase or decrease? Would imports from Japan and European countries to US increase or decrease?

Case Study

Calculate how many of civilian labor force in Riverside would fall into each type of unemployment.

Discuss the change in price level and real GDP based on the events occurring in the scenario (Hint: study aggregate demand and supply shifters)

Provide counter-evidence that imports will bring overall benefits to our nation in terms of improving the total welfare (sum of consumer and producer surplus).

The exchange rate between dollar (US currency) and yen (Japan currency) was 120¥/$; and the exchange rate between dollar (US currency) and euro is 1.3€/$ in 2014, and the exchange rate increased to 130¥/$ and 1.5€/$, respectively in 2015.

Predict the pattern of export and import between those three countries in 2015 compared to 2014. In other words, would exports from US to Japan and European countries increase or decrease? Would imports from Japan and European countries to US increase or decrease?