Suppose Congress cuts spending for the military, and then unemployment rises in the Philippine defense industry. Is there causation in this situation, or are we observing an association between events?

Suppose Congress cuts spending for the military, and then unemployment rises in the Philippine defense industry. Is there causation in this situation, or are we observing an association between events?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter1: Introducing The Economic Way Of Thinking

Section: Chapter Questions

Problem 7SQP

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Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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