Question 1 Incomplete answer Points out of #1) Suppose the following data describe a nation's population? 10 Year 1 Year 2 Remove flag Population 300 million 305 million Labor Force 150 million 160 million Unemployed 7 million 7.2 million (a) What is the unemployment rate in each year? Instructions: Round your answers to one decimal place. Year 1: 4.7 percent Year 2: 4.5 percent (b) How has the number of unemployed changed from Year 1 to Year 2? Increased by 200,000 workers (c) How is the apparent discrepancy between (a) and (b) explained? A larger labor force in Year 2 Please answer all parts of the question. Next page ?

Question 1 Incomplete answer Points out of #1) Suppose the following data describe a nation's population? 10 Year 1 Year 2 Remove flag Population 300 million 305 million Labor Force 150 million 160 million Unemployed 7 million 7.2 million (a) What is the unemployment rate in each year? Instructions: Round your answers to one decimal place. Year 1: 4.7 percent Year 2: 4.5 percent (b) How has the number of unemployed changed from Year 1 to Year 2? Increased by 200,000 workers (c) How is the apparent discrepancy between (a) and (b) explained? A larger labor force in Year 2 Please answer all parts of the question. Next page ?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...

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