17 The ONS reported the following reasons for economic inactivity in August to October 2010 (the numbers
Question:
17 The ONS reported the following reasons for economic inactivity in August to October 2010 (the numbers are thousands):
a Which of the above categories were counted in the official unemployment rate? Explain your answer.
b Which of the above categories of reasons for economic inactivity would you expect to fluctuate with real GDP over the business cycle?
c What are the implications of your answer to part
(b) for the mismeasurement of the unemployment rate?
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Related Book For
Economics
ISBN: 9781118150122
10th European Edition
Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews
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