Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jana is a country with a working age population of 32 million people. Of that number, 25 million are employed, 5 million are unemployed but

Jana is a country with a working age population of 32 million people. Of that number, 25 million are employed, 5 million are unemployed but actively looking for work, and 2 million are discouraged workers.

a) If the economy enters an expansionary phase and half the discouraged workers begin looking for work, what effect will this have on the participation rate and the unemployment rate? Explain. please support ans with calculation.

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

Macroeconomics

Authors: Stephen D. Williamson

6th Edition

013447211X, 134472119, 978-0134472119

More Books

Students also viewed these Economics questions

Question

What is Accounting?

Answered: 1 week ago

Question

Define organisation chart

Answered: 1 week ago

Question

What are the advantages of planning ?

Answered: 1 week ago