Answer the questions below:
(A)Suppose an economy has 25,000 people who are not working but are looking and available for work, and 75,000 people who are working. What is the unemployment rate?
(B)Now suppose 10,000 of the people looking for work get discouraged and give up their searches. What happens to the unemployment rate? Would you interpret this as good news for the economy or bad? Explain.
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