Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. The unemployment rate is defined as (1 employed/labor force) 100%. How would the calculated unemployment rate change if, ceteris paribus: (Hint: in each of

3. The unemployment rate is defined as (1 employed/labor force) 100%. How would the calculated unemployment rate change if, ceteris paribus: (Hint: in each of the questions A-D, what variable in the calculation of the unemployment rate changes, and how does it impact the calculation?) A. All people between the ages of 16 and 65 were included as part of the labor force? (3 points) B. Military people were included in the labor force and as employed. (3 points) C. Part-time employees were counted as being in the labor force, but only halfemployed. (3 points) D. Younger teens and seniors who are working were counted as employed, but, because of their age, not in the labor force. (3 points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How China Escaped Shock Therapy The Market Reform Debate

Authors: Isabella M Weber

1st Edition

0429953968, 9780429953965

More Books

Students also viewed these Economics questions

Question

What is an engagement quality review?

Answered: 1 week ago

Question

What products or services do you refuse to offer?

Answered: 1 week ago

Question

Date decision to be made (if known)

Answered: 1 week ago