Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

please see attached Question 8 [6 points] Suppose the labour force consists of 170 adults, of which 143 are employed. Note: Keep as much precision

please see attached

image text in transcribed
Question 8 [6 points] Suppose the labour force consists of 170 adults, of which 143 are employed. Note: Keep as much precision as possible during your calculations. Your final answers should be accurate to at least two decimal places. a) Find the unemployment rate. Unemployment rate = 0% b) Now suppose 17 of the unemployed workers are so discouraged that they have given up looking for work. They decide to go back to school full-time. Find the new unemployment rate. New unemployment rate = 0% c) True or false: "Low unemployment rates imply more people are working". O True O False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Economics questions