If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then OA. unemployment will be close to zero in 11 months. OB. employment is 5,500,000 people. OC. the yearly inflow to unemployment is 500,000 people. O D. the average person will expect to be employed in about 5/11 of a month. OE. the number of unemployed is 5,500,000 people.

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 7P
icon
Related questions
Question
If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then
A. unemployment will be close to zero in 11 months.
B. employment is 5,500,000 people.
C. the yearly inflow to unemployment is 500,000 people.
D. the average person will expect to be employed in about 5/11 of a month.
E. the number of unemployed is 5,500,000 people.
Transcribed Image Text:If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then A. unemployment will be close to zero in 11 months. B. employment is 5,500,000 people. C. the yearly inflow to unemployment is 500,000 people. D. the average person will expect to be employed in about 5/11 of a month. E. the number of unemployed is 5,500,000 people.
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Unemployment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:
9781305971509
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:
9781285165912
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou…
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning