There were 100,000 full-time workers and 50,000 part-time workers who prefer full-time work. 15,000 persons were actively looking for work and not working. 10,000 full-time college students 5,400 adults not looking for work. iv 3,000 discouraged workers. a. Calculate the official unemployment rate. Suppose 3,000 persons, because of positive economic news, started actively looking for work of which 1,000 found jobs. At the same time, 2000 new high school graduate enter the labor force. What b. impact will this have on the unemployment rate? C. What are the factors that make it hard to determine the unemployment? rate? Point allocation Total Unemployment Rate 1.00 New unemployment Rate 2.00 Factors that make it hard to determine the unemployment 2.00

There were 100,000 full-time workers and 50,000 part-time workers who prefer full-time work. 15,000 persons were actively looking for work and not working. 10,000 full-time college students 5,400 adults not looking for work. iv 3,000 discouraged workers. a. Calculate the official unemployment rate. Suppose 3,000 persons, because of positive economic news, started actively looking for work of which 1,000 found jobs. At the same time, 2000 new high school graduate enter the labor force. What b. impact will this have on the unemployment rate? C. What are the factors that make it hard to determine the unemployment? rate? Point allocation Total Unemployment Rate 1.00 New unemployment Rate 2.00 Factors that make it hard to determine the unemployment 2.00

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter7: Unemployment And Inflation

Section: Chapter Questions

Problem 12E

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