The meaning of 10 percent unemployment rate.

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In a particular economy, the labor force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month 3% of the workers who were employed at the beginning of the month lose their jobs, and 18% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 14.29%. For the rates of job loss and job finding given, what will the unemployment rate be in February? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 5% of those employed. The job loss rate returns to 3% in May, while the job finding rate remains unchanged at 18% throughout. Find the unemployment rate for April.%. (Enter your response as a percentage rounded to two decimal…

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Chapter 16, Problem 19SQ

To determine

The meaning of 10 percent unemployment rate.

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In a particular economy, the labor force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month 3% of the workers who were employed at the beginning of the month lose their jobs, and 18% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 14.29%. For the rates of job loss and job finding given, what will the unemployment rate be in February? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 5% of those employed. The job loss rate returns to 3% in May, while the job finding rate remains unchanged at 18% throughout. Find the unemployment rate for April.%. (Enter your response as a percentage rounded to two decimal…

Suppose the official unemployment rate is 10 percent. We can conclude without question that a. the same 10 percent of the people in the economy were out of work for the entire year.b. 1 out of every 10 people in the civilian labor force is currently unemployed.c. the same 10 percent of the people in the civilian labor force was out of work for the entire year.d. every person in the civilian labor force was out of work for 10 percent of the year.

If the number of employed people equals 185 million, the number of unemployed people equals 15 million, and the number of people in the population aged 16 and older equals 210 million, then a. the unemployment rate equals 7.14% and the labor force participation rate equals 95.2%. a. the unemployment rate equals 7.23% and the labor force participation rate equals 85.7%. a. the unemployment rate equals 7.5% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%.