GoldRush18
  • GoldRush18
Suppose that in a given month 98 million people are working and another 5 million are seeking work. a. what would be the official unemployment rate as reported by STATIN? b. now suppose the economy goes into recession, and 3 million workers are laid off and begin seeking work, while 4 million of those previously seeking work give up searching out of discouragement. i. What is the true unemployment rate? (include the discouraged workers) ii. What is the official unemployment rate as reported by STATIN? iii. Briefly discuss the implications of your findings.
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
katieb
  • katieb
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
Okay for a. in the place given, there are totally 103 mil people... so we have to find out what % of 103 mil =5 mil so after calculations u should get... around 4-5 %..
GoldRush18
  • GoldRush18
parts c. Refer to the assumptions about employment and unemployment in the scenario in question 1. Suppose that 7 million of the employed switch to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not seeking work, while other 50% report they are not working but are seeking work. i. What happens to the "true" unemployment rate? ii. What happens to the official unemployment rate?
anonymous
  • anonymous
umm.. sry gtg..will answer later or u can ask other people...really sry.. :(

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

GoldRush18
  • GoldRush18
can u assist me please @aravindg @dmezzulo
GoldRush18
  • GoldRush18
i need some help with this question

Looking for something else?

Not the answer you are looking for? Search for more explanations.