Label each of the following statements true, false, or uncertain. Explain briefly. a. Since 1950, the participation

Question:

Label each of the following statements true, false, or uncertain. Explain briefly.

a. Since 1950, the participation rate in the United States has remained roughly constant at \(60 \%\).

b. Each month, the flows into and out of employment are very small compared to the size of the labor force.

c. Fewer than \(10 \%\) of all unemployed workers exit the unemployment pool each year.

d. The unemployment rate tends to be high in recessions and low in expansions.

e. Most workers are typically paid their reservation wage.

f. Workers who do not belong to unions have no bargaining power.

g. It may be in the best interest of employers to pay wages higher than their workers' reservation wage.

\(h\). The natural rate of unemployment is unaffected by policy changes.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Macroeconomics

ISBN: 9781292160504

7th Global Edition

Authors: Olivier J. Blanchard

Question Posted: