Sarah, Alicia, and Philip all lost their jobs when the medical billing firm they worked for was

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Sarah, Alicia, and Philip all lost their jobs when the medical billing firm they worked for was acquired by another company. After a few weeks of searching for another full-time job, Sarah decided to go back to school to get an LPN certification. In order to finish as fast as possible, Sarah chooses not to work while finishing the certification. Alicia took a part-time job in retail shortly after losing her job, but she continues to search diligently for full-time work. Philip searched for a job for the first five weeks after being laid off, but as bills began piling up, he found himself moving into his parents’ basement. He recently gave up looking for work because he figures that jobs just aren’t available right now, so there is no point in looking. Are Sarah, Alicia, and Philip unemployed, employed, or not in the labor force? Would any of the three be considered a discouraged worker? How would each contribute to the unemployment rate?

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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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