Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose the labor force is 15 million, the participation rate is 75% and unemployment is 10%. If the number of discouraged workers increases by 1

Suppose the labor force is 15 million, the participation rate is 75% and unemployment is 10%. If the number of discouraged workers increases by 1 million, then:

a) unemployment falls to 9%b) unemployment rises to 11% c) the participation rate falls to 70%d) the participation rate rises to 80%

Can you please show your work so I can follow how you calculated this answe

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

Economics Principles and Policy

Authors: William J. Baumol, Alan S. Blinder

12th edition

978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653

More Books

Students also viewed these Economics questions

Question

What is the meaning and definition of E-Business?

Answered: 1 week ago