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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Are all adults who do not hold jobs counted as unemployed?

To determine

Whether all adults that do not have jobs are considered as unemployed or not is to be determined.

Explanation

All those who are included in the total adult population (aged 16 and above) and do not hold jobs are not counted as unemployed. This is because the adults that are aged 60 and above (do not belong to working age population) are considered out of labor force.

Also, there can be people of working age that voluntarily choose not to participate in labor market. For example, students who belong to working age but currently not working, people on parental leave o...

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