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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
BuyFind

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

Solutions

Chapter
Section
Chapter 15, Problem 4PA
Textbook Problem
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Between January 2010 and January 2016, U.S. employment increased by 12.1 million workers, but the number of unemployed workers declined by only 7.3 million. How are these numbers consistent with each other? Why might one expect a reduction in the number of people counted as unemployed to be smaller than the increase in the number of people employed?

Expert Solution
To determine

Employed and unemployed

Explanation of Solution

The U.S. employment rate increased by 12.1 million workers between January 2010 and January 2016; but the number of unemployed workers declined by only 7.3 million. That is the US labor force and number of popu...

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Chapter 15 Solutions

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