ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question

Is it feasible for both the number of employed individuals in the economy and the unemployment rate to rise at the same time?  Explain why or why not.

Expert Solution
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Step 1

Total Labor Force consists of both employed and unemployed. 

Unemployment Rate = Total Unemployed / Total Labor Force * 100

Employment to Working Age Population = Total Employed / Total Working Age Population * 100

 

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