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Suppose that an economy has 9 million people working full-time. It also has 1 million people who are actively seeking work but currently unemployed as
Suppose that an economy has 9 million people working full-time. It also has 1 million people who are actively seeking work but currently unemployed as well as 2 million discouraged workers who have given up looking for work and are currently unemployed. What is this economy's unemployment rate?
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To calculate the unemployment rate we need to first determine the labor force which consists of all ...
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Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
