1. Using your own words, give an example of a person not in the labor force. What is the laborforce participation rate? How is it calculated?2. Using your own words, explain the discouraged worker effect.3. Using your own words, explain the natural rate of unemployment. Is there a country where theunemployment rate is 0%?4. How could a person not be affected by inflation?5. What are the advantages of PPI?6. Give an example of the "Administrative Costs and Inefficiencies" of inflation that happened inLebanon.7. How could we increase GDP?

As you have not mentioned exact question, as per our policy, I am answering first question.

Answered: 1. Using your own words, give an…

1. Using your own words, give an example of a person not in the labor force. What is the labor force participation rate? How is it calculated?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 6SCQ: Is the increase in labor force participation rates among women better thought of as causing an...

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