4. At the peak of the Covid-19 pandemic, TURKSTAT announced that the unemployment rate fell to %12.8 from %13 in April 2020. By referring to the formula of the unemployment rate, explain in words how a drop in the unemployment rate is possible while the economy was undergoing a severe recession.

Macroeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
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• 4. At the peak of the Covid-19 pandemic, TURKSTAT announced that
the unemployment rate fell to %12.8 from %13 in April 2020. By
referring to the formula of the unemployment rate, explain in words
how a drop in the unemployment rate is possible while the economy
was undergoing a severe recession.
Transcribed Image Text:• 4. At the peak of the Covid-19 pandemic, TURKSTAT announced that the unemployment rate fell to %12.8 from %13 in April 2020. By referring to the formula of the unemployment rate, explain in words how a drop in the unemployment rate is possible while the economy was undergoing a severe recession.
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