Question
2. Show work. Examine the following statistics about the economy and answer the questions below: Unemployment rate: 10% Number of employed: 180 mil Labor force
2. Show work. Examine the following statistics about the economy and answer the questions below:
Unemployment rate: 10%
Number of employed: 180 mil
Labor force participation rate: 64%
- How many people are unemployed and how many people are in the labor force?
b. How many people are classified as not being in the labor force?
Step by Step Solution
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Step: 1
To answer the questions a To find the number of people unemployed we can use the formula Number of u...
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Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
