Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate (u-rate) and the labor force participation rate (LFPR). For the following scenario, determine what happens to these two statistics and click the appropriate box corresponding to your answer. Event: After an unsuccessful searoh, some laid-off workers quit looking for new jobs. O u-rate rises O u-rate does not change Ou-rate falls. O LFPR rises. O LFPR does not change. O LFPR falls.

Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate (u-rate) and the labor force participation rate (LFPR). For the following scenario, determine what happens to these two statistics and click the appropriate box corresponding to your answer. Event: After an unsuccessful searoh, some laid-off workers quit looking for new jobs. O u-rate rises O u-rate does not change Ou-rate falls. O LFPR rises. O LFPR does not change. O LFPR falls.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 2P

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