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During the pandemic summer of 2020, the nation of Tinyland had an estimated 20% unemployment rate. The work-eligible population in Tinyland is 10 people, and
During the pandemic summer of 2020, the nation of Tinyland had an estimated 20% unemployment rate. The work-eligible population in Tinyland is 10 people, and there were two unemployed people in the summer. In the fall of 2020, one person who had been unemployed decided to stay home and stopped looking for a job because his industry was destroyed by the pandemic. Assuming no other changes, calculate the new unemployment rate in Tinyland. The unemployment rate in economy X when it is growing normally (its "natural rate of unemployment") is 5%. When economy X is in a recession, the unemployment rate is 8%. Fill in the blanks to complete the statement correctly. For economy X, the natural rate of unemployment is always 5%. This rate is not due to - factors. It applies - Match each form of unemployment with the appropriate example. Note that some examples may not have a match. Which of the following scenarios are examples of job separation (i.e., workers who quit or were laid off) as
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