The towns of Sawyer and Thatcher each have a labor force of 800 people. In Sawyer, 100 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Thatcher, every member of the labor force was unemployed for 1 month and employed for 11 months. a. What is the average unemployment rate over the year in each of the two towns? Instructions: Enter your responses rounded to one decimal place. Sawyer: %. Thatcher:
The towns of Sawyer and Thatcher each have a labor force of 800 people. In Sawyer, 100 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Thatcher, every member of the labor force was unemployed for 1 month and employed for 11 months. a. What is the average unemployment rate over the year in each of the two towns? Instructions: Enter your responses rounded to one decimal place. Sawyer: %. Thatcher:
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 5CQ
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