BuyFindarrow_forward

Principles of Economics 2e

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

Solutions

Chapter
Section
BuyFindarrow_forward

Principles of Economics 2e

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

What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?

To determine

The difficulties of using unemployment rate as an accurate measure of joblessness is to be determined.

Explanation

The unemployment rate is the proportion of the number of people unemployed to the number of people in the labor force. It is calculated using the following formula.

  Unemployment rate=Number of people unemployedLabor force×100

Unemployment rate gives a representative percentage of the rate of joblessness in the economy. However, there are certain problems with using unemployment rate as an accurate measure of joblessness.

Among the pool of unemployed, there exists people who do not find suitable jobs. If such workers no longer seek work because of either not finding suitable employment or not getting desired wages, they are recategorized as discouraged workers

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

What is commodity money? What is flat money? Which kind do we use?

Brief Principles of Macroeconomics (MindTap Course List)

Distinguish between comparability and consistency.

Cornerstones of Financial Accounting

Why must some employers file Form 1096?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

BOND VALUATION Clifford Clark is a recent retiree who is interested in investing some of his savings in corpora...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Why is it necessary to journalize and post adjusting entries?

College Accounting (Book Only): A Career Approach