2. In 2016, there were approximately 159.2 millionpeople in the labor force and the unemploymentrate was 4.9 percent. If the unemployment ratehad been 4.5 percent instead of 4.9 percent,a. How many fewer workers would have beenunemployed?million

here we calculate the number of unemployed by using the given data which are as follow -

Answered: 2. In 2016, there were approximately…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. In 2016, there were approximately 159.2 million people in the labor force and the unemployment rate was 4.9 percent. If the unemployment rate had been 4.5 percent instead of 4.9 percent, a. How many fewer workers would have been unemployed?