As explained in the text, the unemployment rate is defined as: a. Explain why people may decide

Question:

As explained in the text, the unemployment rate is defined as:

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a. Explain why people may decide to join the labour force during booms.

b. From part (a), explain why the unemployment rate might rise during a boom, even when the level of employment is also rising.

c. During a recession, suppose unemployed workers leave the labour force because they are discouraged about their inability to find a job. What happens to the unemployment rate?

d. "A declining unemployment rate is a clear positive sign for the economy." Comment.

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Related Book For answer-question

Macroeconomics

ISBN: 9780133910445

15th Edition

Authors: Christopher T S Ragan

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Question Posted: Mar 14, 2024 12:01 PM

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As explained in the text, the unemployment rate is defined as: a. Explain why people may decide

Question:

Unemployment rate = Number of people unemployed Number of people in the labour force x 100 percent

Step by Step Answer:

Macroeconomics

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