Suppose the unemployment rate in the United States goes from 6.4% in one year to 5.6% in the next. (i) What is the percentage point decrease in the unemployment rate? (ii) By what percentage has the unemployment rate fallen?
Chapter 19, Problems #4
Suppose the unemployment rate in the United States goes from 6.4% in one year to 5.6% in the next.
(i) What is the percentage point decrease in the unemployment rate?
(ii) By what percentage has the unemployment rate fallen?
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Answer
Given: The unemployment rate in 1 year = 6.4% The unemployment rate in nex…View the full answer
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