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Chapter 21: Q. 2 (page 523)
Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?
9.617%
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Are all adults who do not hold jobs counted as unemployed?
Whose unemployment rates are commonly higher in the U.S. economy:
a. Whites or nonwhites?
b. The young or the middle-aged?
c. College graduates or high school graduates?
Beginning in the 1970s and continuing for three decades, women entered the U.S. labor force in a big way. If we assume that wages are sticky in a downward direction, but that around 1970 the demand for labor equaled the supply of labor at the current wage rate, what do you imagine happened to the wage rate, employment, and unemployment as a result of increased labor force participation?
Is it desirable to pursue a goal of zero unemployment? Why or why not?
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest of the adult population is out of the labor force. What鈥檚 the unemployment rate? What share of the population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
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