Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Country A with a civilian population of 165 mil (all over age 16), has 103mil employed and 17mil unemployed persons, of which 2 mil is

Country A with a civilian population of 165 mil (all over age 16), has 103mil employed and 17mil unemployed persons, of which 2 mil is frictionally unemployed and another 4mil structurally unemployed.

a) What is the size of the labor force in millions? ________

b) What is the actual unemploymentrate? ________

c) What is the naturalrateof unemployment? ____________

d)What is the cyclical unemploymentrate?______________

e) Number of people not in the labor force?___________

f) Is this economy in a recession or a boom? ______________

g) Explain

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

The Economic Development Of Latin America Since Independence

Authors: Luis Bértola, Luis Bértola

1st Edition

0191638242, 9780191638244

More Books

Students also viewed these Economics questions

Question

What are the strengths and weaknesses of arguments by analogy?

Answered: 1 week ago

Question

1 Normal 1 No Spac... Heading 1 Heading 2 Title

Answered: 1 week ago

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago