Question
1. What are the definitions of: (a) the unemployment rate, (b) the labor force participation rate, (c) employed, and (d) unemployed? 2. How does the
1. What are the definitions of:
(a) the unemployment rate,
(b) the labor force participation rate,
(c) employed, and
(d) unemployed?
2. How does the Bureau of Labor Statistics, Department of Labor, collect the data used to estimate these variables?
3. Do you agree with the method used? If not, what would you change and why?
REFERENCES ARE NEEDED AS WELL FOR THIS QUESTION.
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The World Economy Geography, Business, Development
Authors: Frederick P. Stutz, Barney Warf
6th edition
321722508, 321722507, 978-0321722508
