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Suppose the following data describe a nation's labor market situation in years 1 and 2. Year 3 is just like Year 2 except that 2
- Suppose the following data describe a nation's labor market situation in years 1 and 2. Year 3 is just like Year 2 except that 2 million more people become "discouraged workers". Please fill in the blanks in the table below and explain your calculations.
Year 1 | Year 2 | Year 3 | |
Population | 400 | 400 | 400 |
Labor Force | 200 | 200 | |
Labor Force Participation Rate | 50% | 50% | |
Number unemployed | 10.0 | 12.0 | |
Unemployment rate | 5% | 6% | |
Number employed | 190 | 188 | |
Employment to Population rate | 48% | 47% |
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How China Became Capitalist
Authors: Ronald Coase, Ning Wang
1st Edition
1137351438, 9781137351432
