In the country of Economica, the total labor force consists of 5,000 workers. 250 of these workers areunemployed, and thus the current unemployment rate is 5.0%. This year, 100 workers will lose their jobs, 85 workers will return to the labor force after an absence, 50 workers will voluntarily leave their jobs, and 250 new workers will enter the labor force. At the same time, 363 workers will find jobs, and 150 workers will retire or leave the labor force for other reasons. Thus, at the end of the year, the labor force will consist of workers, and % the unemployment rate will be (Enter your response as a whole number.)

In the country of Economica, the total labor force consists of 5,000 workers. 250 of these workers areunemployed, and thus the current unemployment rate is 5.0%. This year, 100 workers will lose their jobs, 85 workers will return to the labor force after an absence, 50 workers will voluntarily leave their jobs, and 250 new workers will enter the labor force. At the same time, 363 workers will find jobs, and 150 workers will retire or leave the labor force for other reasons. Thus, at the end of the year, the labor force will consist of workers, and % the unemployment rate will be (Enter your response as a whole number.)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 11RQ: If you an? out of school but working part time, are you considered employed or unemployed in U.S....

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