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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

How is the unemployment rate measured? • How might the unemployment rate overstate the amount of joblessness? How might it understate the amount of joblessness?

To determine

The measurement of unemployment rate.

Explanation

Unemployment rate can be defined as the percentage of unemployed people in the labor force. This can be calculated as follows:

Unemployment rate=Number of unemployed

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