Refer to the information provided in Table below to answer the questions that follow.Employed148,297Unemployed8,705 What is the number of labor forceWhat is the rate of unemploymentWhat is the cost of unemployment (Explain just one point)?Why high rate of unemployment can be considered as one of biggest issues for the economy.?

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Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Economic Fluctuations, Unemployment, And Inflation

Section: Chapter Questions

Problem 7CQ

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Refer to the information provided in Table below to answer the questions that follow.

Employed	148,297
Unemployed	8,705

What is the number of labor force
What is the rate of unemployment
What is the cost of unemployment (Explain just one point)?
Why high rate of unemployment can be considered as one of biggest issues for the economy.?

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