Question
Given the information below for the country of Manga, answer the following: Calculate the unemployment rates for both 2019 and 2020. Then calculate the labor
Given the information below for the country of Manga, answer the following: Calculate the unemployment rates for both 2019 and 2020. Then calculate the labor force participation rates for both 2019 and 2020.
Based on the changes in these rates, in which part of the business cycle would you say the economy of Manga was in at the end of 2020?
| 2019 | 2020 | |
| Real GDP | $2,700,000 | $2,200,000 |
| Total Adult Population | 150,000 | 155,000 |
| Employment | 100,000 | 75,000 |
| Unemployment | 5,000 | 15,000 |
| Discouraged Workers | 1,000 | 5,000 |
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Changing Resource Problems Of The World
Authors: Ronald G Ridker
1st Edition
131735494X, 9781317354949
