Through interviews we find that of the wholepopulation aged 15 and above, 400 people areretired, 500 have decided to stay home and takecare of family members or their own hobbies, 600are working part-time, while 2,000 persons areworking full time. 150 people have been lookingfor work over the last month, while 50 peoplewould like to work, but were too discouraged toeven bother searching for a job. Theunemployment rate in this economy is:Question 2 options:4.05%5.45%7.14%28.57%

The unemployment rate measures the share of workers in the labor force who do not currently have a…

orking full time. 150 people have been looking r work over the last month, while 50 people ould like to work, but were too discouraged to ven bother searching for a job. The nemployment rate in this economy is:

orking full time. 150 people have been looking r work over the last month, while 50 people ould like to work, but were too discouraged to ven bother searching for a job. The nemployment rate in this economy is:

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section: Chapter Questions

Problem 1CQQ

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