ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Suppose the unemployment rate is 10% this month and there are 20 million officially unemployed people. Since last month's unemployment report, 2 million people found jobs but 4 million unemployed people became discouraged and stopped searching. If there were no other changes in the labor market, what was the unemployment rate last month? Show all work and formulas.arrow_forwardFind the relative change in unemployment from January 2005 to December of 2015.arrow_forwardImagine that during an expansion the U.S. economy adds 300,000 jobs. In addition, because of the improving economic conditions, the labor force increases by 200,000. Would the unemployment rate go up or down?arrow_forward
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