3) Suppose that Alpha and Omega have identically sized working-age populations but that total annual hours of work are much greater in Alpha than in Omega. This could happen because     more of Alpha’s labor force is unemployed, or Omega workers place a lower value on leisure than those in Alpha. Omega’s labor force is underemployed, or Omega workers place a higher value on leisure than those in Alpha. Alpha’s labor force is underemployed, or Omega workers place a higher value on leisure than those in Alpha. more of Omega’s labor force is unemployed, or Omega workers place a lower value on leisure than those in Alpha

Fatima has decided to work for an entrepreneur in Italy because the country's high entrepreneurship rate provides her employment protection and strong unemployment insurance ( a) True ( b) False

(2) Being another key indicator, employment reflects the current status of an economy. Empirical evidence shows a higher growth rate of national output (GDP) usually goes hand-in-hand with a lower unemployment rate. In a study to the economic impact of the Covid-19 pandemics in the US, you noticed that during the pandemics, unemployment rises across states in 2020. Similarly, after state economies reopened and moved quickly out of the Covid-19 recession, unemployment rates also dropped in most states. However, there are still noticeable regional differences of how the job market performed in different states. The table below compares unemployment rates of Arkansas, California, New York and Texas in October 2019 (10/2019), October 2020 (10/2020) and October 2021 (10/2021). Use your language to explain the differences of unemployment rate between Arkansas and other three states. 5725 Unemployment rate (%) of selected States Date Arkansas California New York Техas 10/2019 3.5 3.9 3.9 3.5…