The table below provides employment and labour force data for a small economy over a 3 -month

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The table below provides employment and labour force data for a small economy over a 3 -month period.

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a. What is the unemployment rate on September 1 , October 1 , and November 1 ?

b. Explain why the unemployment rate changes even though the stock of unemployment remains stable.

c. Provide a likely explanation for the change in this economy's labour force. In this case, is the unemployment rate an accurate measure of the amount of slack (excess supply) in the labour market?

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Macroeconomics

ISBN: 9780133910445

15th Edition

Authors: Christopher T S Ragan

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Question Posted: Mar 14, 2024 12:00 PM

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The table below provides employment and labour force data for a small economy over a 3 -month

Question:

Stock Outside Stock of Stock the of Labour Total Unemployment Employment Force Population Sept. 1 120 000 1 430 000 450 000 2 million Oct. 1 120 000 1 380 000 500 000 2 million Nov. 1 120 000 1 250 000 550 000 2 million

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Macroeconomics

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