Consider an active population equal to 1000 people, the finding rate is 0.9 and the separation te is 0.1 (a) What is the Steady State unemployment rate? (b) If this month the unemployment rate is 0.90, what is the number of employed and unemployed next month? (c) What if this month the unemployment rate were 0.05?

Consider an active population equal to 1000 people, the finding rate is 0.9 and the separation te is 0.1 (a) What is the Steady State unemployment rate? (b) If this month the unemployment rate is 0.90, what is the number of employed and unemployed next month? (c) What if this month the unemployment rate were 0.05?

Elementary Linear Algebra (MindTap Course List)

8th Edition

ISBN:9781305658004

Author:Ron Larson

Publisher:Ron Larson

Chapter2: Matrices

Section2.5: Markov Chain

Problem 45E: Epidemic Model In a population of 200,000 people, 40,000 are infected with a virus. After a person...

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