Labor Force Statistics by Age.Suppose people in the adult population in a small country are classified based on their age.
-Refer to Labor Force Statistics by Age. Suppose that the natural rate of unemployment is 5% for those under 55 and 3% for those 55 and older. The cyclical unemployment rate for those under 55 is
A) .88% which is greater than the cyclical unemployment rate for those 55 and older.
B) .88% which is less than the cyclical unemployment rate for those 55 and older.
C) -.83% which is greater than the cyclical unemployment rate for those 55 and older.
D) -.83% which is less than the cyclical unemployment rate for those 55 and older.
Correct Answer:
Verified
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