ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
expand_more
expand_more
format_list_bulleted
Question
If some of unemployed individuals became discouraged workers, which of the following would result?
a. |
The labor force would decrease and the |
|
b. |
The labor force would increase and the unemployment rate would decrease. |
|
c. |
The labor force would decrease and the unemployment rate would decrease. |
|
d. |
The labor force would decrease and the unemployment rate would remain the same. |
|
e. |
The labor force would increase and the unemployment rate would remain the same. |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- From the data below, answer the following questions. Working-age population 250 million Not in labor force 85 million Discourage workers 2 million Involuntary part-time workers 8 million Unemployed 15 million a. Compute the labor force participation rate and the official unemployment rate, respectively. Show your work. b. Suppose that 2 million jobless people (i.e., unemployed) suddenly quit looking for a job. How does it affect the labor force participation rate and the official unemployment rate (U-3)? Briefly explain your reasoning without calculating both the labor force participation rate and the unemployment rate.arrow_forwardThe normal rate of unemployment that persists in the economy in the long run is called a. frictional unemployment. b. structural unemployment. c. cyclical unemployment. d. the natural rate of unemployment.arrow_forward"Australia has aimed to achieve full employment by implementing various employment and labor market programs". Achieving full employment would indicate that: A. Everyone in the Australian economy has a job. B. There is no unemployment in the economy. c. Australia has reached the level of employment where all workers are fully utilized, and there is no cyclical unemployment. D. Only a small percentage of the Australian workforce is unemployed.arrow_forward
- If a person rejoins the labor force and starts looking for work, then the unemployment rate a. increases and the labor-force participation rate is unaffected.b. increases and the labor-force participation rate also increases.c. is unaffected as the labor-force participation rate increases.d. and the labor-force participation rate are both unaffected.arrow_forwardpart D E Farrow_forwardWhich of the following statements is NOT true? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. The rate of unemployment is estimated based on the number of individuals filing for unemployment benefits. a b C d The presence of discouraged workers may cause the reported unemployment rate to understate the true unemployment problem. People who work part-time but want to work full-time, and people working in jobs below their productive abilities are underemployed and counted as employed. Worker participation in the gig economy has increased significantly in the past decade, which may mean unemployment figures are not an accurate reflection of employment conditions.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education