Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In June of 2011 the number of people unemployed was 15 million, while the number of people in the labor force was 140 million. A

In June of 2011 the number of people unemployed was 15 million, while the number of people in the labor force was 140 million. A year goes by and 4 million people drop out of the labor force due to the weakening of the labor market. Thus, in June of 2012 the number of unemployed was 11 million, while the number of people in the labor force was 136 million. What happened to the unemployment rate during this time period and what caused the change? Group of answer choices The unemployment rate dropped due to people dropping out of the labor force The unemployment rate increased due to people dropping out of the labor force The unemployment rate stayed the same due to the weakening of the labor market The unemployment rate stayed the same due to people dropping out of the labor force

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

International Development And The Washington Consensus A Pluralist Perspective

Authors: John Marangos

1st Edition

042953485X, 9780429534850

More Books

Students also viewed these Economics questions

Question

15 Which two investment ratios take into account market prices?

Answered: 1 week ago

Question

Go, do not wait until I come

Answered: 1 week ago