Macroeconomics Canadian 1st Edition Hubbard Solutions Manual 1
Macroeconomics Canadian 1st Edition Hubbard Solutions Manual 1
Macroeconomics Canadian 1st Edition Hubbard Solutions Manual 1
▪ Statistics Canada uses the results of a monthly household survey to calculate the
unemployment rate, the labour force participation rate, and the employment-population
ratio. An establishment survey, or payroll survey, is used to measure total employment in
the economy.
▪ There are four types of unemployment: frictional, structural, cyclical, and seasonal.
▪ Government policies can reduce the level of frictional and structural unemployment by
aiding job search and worker retraining.
▪ Some government policies can add to the level of frictional and structural unemployment
by increasing the time workers devote to searching for jobs, by providing disincentives for
firms to hire workers, or by keeping wages above their market level.
▪ The price level measures the average prices of goods and services in the economy. The
inflation rate is equal to the percentage increase in the price level from one year to the next.
5.5 Using Price Indexes to Adjust for the Effects of Inflation (pages 135–136)
Use price indexes to adjust for the effects of inflation.
▪ To correct for the effects of inflation, we can divide a nominal variable by a price index
and multiply by 100 to obtain a real variable.
▪ The real interest rate is the nominal interest rate minus the inflation rate.
▪ When the inflation rate is different from the expected inflation rate some people gain and
some people lose.
Key Terms
Consumer price index (CPI), p. 132. An Inflation, p. 131. A general increase in the
average of the prices of the goods and services prices of goods and services over time.
purchased a typical household.
Inflation rate, p. 132. The percentage increase
Cyclical unemployment, p. 127. in the price level from one year to the next.
Unemployment caused by a business cycle
recession. Labour force, p. 123. The sum of employed and
unemployed workers in the economy.
Discouraged workers, p. 124. People who are
available for work but have not looked for a job Labour force participation rate, p. 123. The
during the previous four weeks because they percentage of the working-age population in the
believe no jobs are available for them. labour force.
Efficiency wage, p. 130. A higher-than-market Menu costs, p. 138. The costs to firms of
wage that a firm pays to increase worker changing prices.
productivity.
Natural rate of unemployment, p. 128. The
Employment-population ratio, p. 123. A normal rate of unemployment, consisting of
measure of the portion of the population frictional unemployment plus structural
engaged in paid work. unemployment.
Frictional unemployment, p. 126. Short-term Nominal interest rate, p. 136. The stated
unemployment that arises from the process of interest rate on a loan.
matching workers with jobs.
Chapter Outline
BlackBerry reducing its global workforce by 40 percent.
In September 2013, BlackBerry, formerly one of Canada’s largest tech companies, announced it would be
laying off 40 percent of its worldwide employees – estimated at 4,500 workers. The layoffs were due to the
problems the company had experienced with falling demand for its smartphone during the 2007–2009
recession and from competition from world leaders, Apple and Samsung. The layoffs also indicated how
slowly the worldwide economy was recovering from the recession of 2007–2009. Economists at Statistics
Canada and the Bank of Canada were forecasting that unemployment would not return to normal levels for
at least another two years. Some economists had even begun speaking of the “new normal,” in which
unemployment might be stuck at high levels for many years.
5.1 Measuring the Unemployment Rate and the Labour Force Participation
Rate (pages 122-126)
Learning Objective: Define the unemployment rate and the labour force participation
rate, understand how they are computed.
The labour force is the sum of employed and unemployed workers in the economy. The unemployment
rate is the percentage of the labour force that is unemployed. Discouraged workers are people who are
available for work but have not looked for a job during the previous four weeks because they believe no
jobs are available for them. The labour force participation rate is the percentage of the working-age
population in the labour force. The employment-population ratio measures the percentage of the working
age population that is employed.
Some unemployment is due to seasonal factors, such as weather or fluctuations in demand during different
times of the year. Seasonal unemployment refers to unemployment due to factors such as weather, variations
in tourism, and other calendar-related events.
B. Structural Unemployment
Structural unemployment is unemployment that arises from a persistent mismatch between the skills and
attributes of workers and the requirements of jobs. This type of unemployment can last for longer periods
than frictional unemployment because workers need time to learn new skills.
C. Cyclical Unemployment
When the economy moves into recession, many firms find their sales falling and cut back on production.
As production falls, firms lay off workers. Cyclical unemployment is unemployment caused by a business
cycle recession.
D. Seasonal Unemployment
Seasonal unemployment is unemployment that is due to seasonal factors, such as weather or
the fluctuation in demand for some products during different times of the year. Examples include
department stores hiring in November and December followed by layoffs in January, ski resorts
closing down at the end of the ski season, and construction projects laying off in parts of Canada
with harsh winter weather. Statistics Canada publishes two sets of unemployment figures each
month: one that is seasonally adjusted and another that is not seasonally adjusted. The seasonally
adjusted data eliminate the effects of seasonal unemployment.
E. Full Employment
The natural rate of unemployment is the normal rate of unemployment, consisting of frictional
unemployment plus structural unemployment. The natural rate of unemployment is also called the full-
employment rate of unemployment.
Teaching Tips
Though categorizing unemployment as frictional, structural, or cyclical is useful in understanding the
sources of unemployment, Statistics Canada provides estimates of total unemployment. It does not classify
unemployment as frictional, structural, or cyclical.
Title: Travels through Central Africa to Timbuctoo and across the Great
Desert to Morocco performed in the year 1824-1828, in Two
Volumes, Vol. I
Language: English
Credits: Galo Flordelis (This file was produced from images generously
made available by The Internet Archive)
TRAVELS
THROUGH
CENTRAL AFRICA
TO
TIMBUCTOO;
AND
IN TWO VOLUMES.
VOL. I.
LONDON:
HENRY COLBURN AND RICHARD
BENTLEY,
NEW BURLINGTON STREET.
1830
PRINTED BY O. SCHULZE, 13, POLAND STREET.
ADVERTISEMENT
Among the geographical problems which, during the last half century,
have occupied the attention of the scientific world and awakened a spirit
of adventure in enterprizing individuals, has been the existence of a large
and populous city in the heart of Central Africa. The solution of this
problem appeared to be a subject worthy of the solicitude even of
Societies and Governments; and various expeditions have been
dispatched at their expense to explore the unknown interior of that
continent, with a particular view to the settlement of this long agitated
question. In vain, however, have Houghton, Browne, Hornemann, and
Park—in vain have their successors, our countrymen, Tuckey, Peddie,
Campbell, Gray, Ritchie, Bowdich, Oudney, Clapperton, Denham and
Laing—in vain have other European travellers, Burckhardt, Beaufort,
Mollien, Belzoni, started from different points of the coast of Africa,
animated with the hope of removing the veil which enveloped the
mysterious city:—all have either perished or been baffled in the attempt.
Of this number Major Laing alone reached the desired goal; but the
results of his perseverance and his observations were lost to his country
and to the world through the barbarous murder of that officer, and the
consequent dispersion of his papers and effects.
Our neighbours, the French, have therefore just ground for exultation
in the fact, that what British enterprize, seconded by the liberality of the
British government, failed to accomplish, has been achieved by a very
humble individual of their nation, and by means of his own slender
unassisted resources; and they have certainly a right to boast that M.
Caillié, the author of the work here presented to the public, is the first
European who has succeeded in the attempt to penetrate to Timbuctoo,
and returned, in spite of the perils interposed by the climate and by the
still more destructive passions of men, to communicate all the
information that circumstances enabled him to collect.
Of the importance of this information the adjudication of a premium
of 10,000 francs (upwards of £400 sterling) by the Geographical Society
of Paris to the traveller, affords presumptive evidence. When it is
considered that, pursuing his course eastward from the French colony on
the Senegal, he advanced by way of Kakondy, Kankan, and Timbo, to
the distance of two hundred miles beyond Soulimana; that he then
proceeded northward through more than one hundred villages to Jenné;
that, there embarking on the great river Dhioliba (the Joliba of Mungo
Park) he enjoyed the best opportunities for observing its course, its
islands, and the extensive lake of Debo, which has afforded matter for so
much discussion, during a voyage of nearly a month to Timbuctoo; that
he has furnished positive information of high political and commercial
interest respecting that city; and that he has proved the practicability of
reaching it from the coast of the Mediterranean by traversing the great
Desert which girdles Africa, and through which he returned to the
territories of Morocco: —when all this is considered, it must be admitted
that his merits have not by any means been overrated.
In this country also, which has long taken the lead in the
encouragement of geographical discovery, it is fair to presume that the
work in which M. Caillié has recorded, in language of unaffected
simplicity, the observations made in a journey of 4500 miles, (of which
3000 were through regions either absolutely, or nearly unknown), cannot
but possess powerful attractions for every class of readers, whether
pursuing the career of trade, of science, or of politics, whether in quest of
individual advantage or personal information.
CONTENTS OF THE FIRST VOLUME.
CHAPTER I.
Pedestrian journey from St. Louis to Neyreh — Passage to N’ghiez —
Manners of the inhabitants — Miraculous stone — Departure —
Robbers — Mode of fishing with nets — The steam-vessel — The
author’s arrival among the Braknas—Conversation with Mohammed
Sidy Moctar, chief Marabout to the king — Reception by the king.
CHAPTER II.
The author is forced to turn physician — Distrust of the Moors —
Description of the camp of King Lam Khaté — Schools — Amusement
of the women.
CHAPTER III.
Method of cultivating and using millet — Character of the Hassanes
or warriors — The Balanites Ægyptiaca, its fruit, method of extracting
oil from it — Quarrel excited by a woman — Manner of protecting
oneself from cold in the tents — Method of collecting gum — Marriages
of the Marabouts, and of the Hassanes — Inheritance of property —
Method of tanning leather — Dress of the Moors.
CHAPTER IV.
Difficulty in going to market — Oxen stolen by a neighbouring tribe
— The Ramadan — Circumcision — The feast of Tabasky — Gum trade
with the Europeans — Author’s return to St. Louis.
CHAPTER V.
Disappointments experienced at St. Louis — The author takes up
various occupations — He departs once more — Particulars respecting
the environs of Kakondy — The Nalous, Landamas, or Lantimas and
Bagos.
CHAPTER VI.
Departure of the author on his great expedition — Manners and
customs of his travelling companions, and account of the caravans in this
part of Africa — The Caura — Mountains of Lantégué — River of
Doulinca — Smelting of iron — Rio Pongo — Mountain of Touma —
Description of Irnanké and its inhabitants — Telewel — Cataract of
Cocouo — Orange trees.
CHAPTER VII.
Popoco — Granite mountains — The Author’s party crosses the Bâ-
fing (the principal tributary of the Senegal) near its source — Great
cataract — Fouta-Dhialon — Langoué — Couroufi — Schools —
Albinos — Industry of the inhabitants. The traveller obliged to turn
physician.
CHAPTER VIII.
Bridge over the Tankisso — Departure for the Kankan — Description
of Fouta-Dhialon — Character, manners and customs of the Foulahs —
Country of Kankan-Fodéa — Butter-tree — Course of the Dhioliba —
Countries of Couranco, Sangaran, and Kissi-kissi — Mandingo
marriages — River of Bandiégué — Bagaraya — Saraya — Bacocouda
— Warlike dances.
CHAPTER IX.
Description of Baléya — Arrival on the banks of the Dhioliba —
Courouassa — Sambarala — Bouré, a mountainous country, rich in gold
— Crossing the Dhioliba — The river Yendan — Kankan — Description
of the town — The market — Gold of Bouré — A religious festival —
Ordeal of fire — Critical situation of the traveller — Diseases of the
country.
CHAPTER X.
Further account of Kankan and its environs — Council of elders —
State of trade, and civilization — Kissi — Bouré — Trade between
Bouré and Bamako, Yamina, Ségo, Sansanding, and Jenné — Working
of gold mines — Establishment of Bamako — Passage of the Milo, and
several other tributary rivers of the Dhioliba.
CHAPTER XI.
Wassoulo — Manners and customs of the inhabitants — Flourishing
state of agricultural industry — Hospitality — Kankary — Sambatikila
— Reflections on the sale of slaves — Scarcity — Description of the
residence of the Almamy — Commerce — Smith’s work — Bambara
villages — Arrival at Timé — Ranges of mountains.
CHAPTER XII.
Abode at Timé — Weekly market — The traveller falls seriously ill of
the scurvy — Is nursed by a negress — Rainy season — The author
prevented from joining the caravan departing for Jenné — Fertility of the
neighbourhood of Timé — Desperate condition of the traveller — His
recovery after four months’ illness — Description of a funeral.
CHAPTER XIII.
Description of Timé and its environs — Character, manners, and
customs of the inhabitants — Period of circumcision for males, and
excision for females — Manufactures, trade, and agriculture —
Indigenous plants — Diseases.
CHAPTER XIV.
Departure from Timé, January 9th, 1829 — The name of Kong,
applied by Mungo Park to a chain of mountains, is a generic term — Use
of bells in caravans — Loubakho — Cacoron — Dancing and music of
the Bambaras — Sananso — Dhio — The oil palm-tree — Talé —
Customs of the inhabitants — Borandou — Grotesque mask — Tangrera.
CHAPTER XV.
Cultivation of tobacco — Tangrera — Fara — Bangaro — Itinerant
musicians — Débéna — Tiara — Part of the caravan proceeds to
Sansanding — Bee-hives — Siracana — The Bagoé, a navigable river —
The Lous — Bandiarana — Bridge over the Koua.
CHAPTER XVI.
Oulasso — Fabibrisso — Toumané — Implements of husbandry —
Couara — Koraba — Douasso — Kong — Baunan — Garo — Forges
— Nibakhasso.
CHAPTER XVII.
Dwarf cotton — Coloni — The Iolas, a Foulah tribe — Bancousso —
Carabara — Marshes — Ropes made of the hibiscus — Brick-making —
Construction of houses — Kerina. —Foudouca — Medina — Lotus
bread — Touma-dioman — Marianan — Arrival at Galia on the banks of
the Dhioliba, opposite to Jenné.
CHAPTER XVIII.
Crossing the Dhioliba — Abode at Jenné — Description of the town
— Manners and customs of the inhabitants — Trade — English and
French goods — Buildings — Population — Schools — Religion—Food
and clothing — Geographical details — Course of the river — The
Massina — Residence of the sherif of Jenné — A dinner — Use of tea,
sugar and porcelain — Preparations for the Author’s departure for
Timbuctoo.
INTRODUCTION.