In March 2007, the U.S. unemployment rate was 4.4 percent. In August 2008, the unemployment rate was 6.1 percent. Predict what happened to (1) unemployment between March 2007 and August 2008, assuming that the labor force was constant and (2) the labor force between March 2007 and August 2008, assuming that unemployment was constant.

In March 2007, the U.S. unemployment rate was 4.4 percent. In August 2008, the unemployment rate was 6.1 percent. Predict what happened to (1) unemployment between March 2007 and August 2008, assuming that the labor force was constant and (2) the labor force between March 2007 and August 2008, assuming that unemployment was constant.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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