Scenario: Suppose an economy consists of only the following economic agents: 2 million full-time workers, 1 million part-time workers, 1 million people who have been laid off by their employers but are currently looking for employment, 1 million children aged 15 years or younger, and 2 million housewives not looking for jobs.
-Refer to the scenario above.What is the number of unemployed workers in the economy?

Question

Quizplus · Accepted Answer

Only the 1 million people who have been laid off by their employers but are currently looking for employment are considered unemployed. Therefore the number of unemployed workers is 1 million.

Scenario: Suppose an Economy Consists of Only the Following Economic