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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

Under what condition would a decrease in unemployment be bad for the economy?

To determine

The conditions when a fall in the unemployment is considered as bad for the economy are to be determined.

Explanation

Decrease in unemployment rate means number of unemployed in work force is decreasing but this is not the case. Sometimes labors get discouraged; they do not look for jobs. Hence they will not be part of unemployed and labor force anymore.

Suppose if number of unemployed are 800 and total labor force is 1000.unemployment rate will be (800/1000) 80% .If we subtract 200 discouraged employees,(as they do not want the job ...

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