Suppose employment is 139 million and out-of-labour force is 50 million. Also, each month an average of 2.4 million unemployed quit looking for jobs, 2.5 million employed become unemployed, 2.6 unemployed become employed, and 2.3 million new graduates start looking for jobs. If the average duration of unemployment is 2 months, what is the average number of unemployed per month? (round to the nearest decimal in million) a.9.4 b. 9.0 c. 10.2 d. 9.6

Suppose employment is 139 million and out-of-labour force is 50 million. Also, each month an average of 2.4 million unemployed quit looking for jobs, 2.5 million employed become unemployed, 2.6 unemployed become employed, and 2.3 million new graduates start looking for jobs. If the average duration of unemployment is 2 months, what is the average number of unemployed per month? (round to the nearest decimal in million) a.9.4 b. 9.0 c. 10.2 d. 9.6

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

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