Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello can some else explain to me: How to solve this The figure on the right shows the average monthly flows (in millions) between employment,

image text in transcribed

Hello can some else explain to me: How to solve this

image text in transcribed
The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. According to the figure, the average monthly flow out of the labor force each month is 5.5 million, and the average monthly flow into the labor force is 7.8 Employment million. (Round your responses to one decimal place.) 146.0 million If this hypothetical economy's experience is similar to that of the United States, we would expect its retirees and first-time entrants to account for a relatively small 3.2 4.1 share of the combined flows in and out of the labor force. /2.8 3.6 Because people leaving the labor force are not counted as unemployed (and many actually want to work), some economists prefer to monitor an economy's 3.7 Out of the employment rate. Unemployment labor force For this hypothetical economy, the employment rate is 59.8 %. (Round your 6.3 million 1.9 92.0 million response to one decimal place.)

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_2

Step: 3

blur-text-image_3

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

Math For Business And Finance An Algebraic Approach

Authors: Jeffrey Slater, Sharon Wittry

1st Edition

0077639626, 9780077639624

More Books

Students also viewed these Economics questions

Question

Is there something else I need more?

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago

Question

Food supply

Answered: 1 week ago