3. A country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed

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3. A country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3,000 are structurally unemployed.

On the basis of these data, answer the following questions.

a. What is the size of the labor force?

b. What is the unemployment rate?

c. What is the natural rate of unemployment for this country?

d. Is this economy in recession or expansion?

Explain.

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Principles Of Macroeconomics

ISBN: 9781324034001

4th Edition

Authors: Dirk Mateer, Lee Coppock

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Question Posted: Oct 22, 2024 09:01 AM

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3. A country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed

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Principles Of Macroeconomics

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