Suppose there are 180 million employed people and 20 million unemployed people.
a) What is the unemployment rate?
b) Suppose that 5 million unemployed people give up their search for jobs and become discouraged workers. What is the new official unemployment rate?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q357: Explain how the labor force participation rate
Q358: Define and give an example of how
Q359: Give an example of a cyclically unemployed
Q360: What is potential GDP and what is
Q361: The unemployment rate is 6 percent. If
Q363: Suppose the current unemployment rate is 5
Q364: What is the relationship over the business
Q365: Consider the following scenario. Initially the economy
Q366: Suppose the population is 220 million people,
Q367: "The new goods bias puts a downward
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents