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The following data approximately describe the Wisconsin economy now: total population 5.8 million adult population 4.3 million labor force 3.2 million unemployed 0.1 million (100,000)7.
The following data approximately describe the Wisconsin economy now: total population 5.8 million adult population 4.3 million labor force 3.2 million unemployed 0.1 million (100,000)7. Suppose there's a recession, and the number of unemployed workers rises to 300,000. (To keep things simple, assume that the labor force doesn't change at first.) In this case, what would be the new unemployment rate? Show your work. New unemployment rate
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