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Chapter 21: Q. 31 (page 525)

Is a decrease in the unemployment rate necessarily a good thing for a nation? Explain.

Short Answer

Expert verified

A decrease in the unemployment rate is not necessarily a good thing for a nation.

Step by step solution

01

Step 1. Unemployment Rate.

The unemployment rate is the percentage of adults who are in the labor force and thus seeking jobs, but who do not have jobs.

02

Step 2. Decrease in Unemployment Rate.

A decrease in the unemployment rate is not necessarily a good thing for a nation. An increase in discouraged workers will decrease the number of unemployed workers which leads to a decline in the unemployment rate.

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Most popular questions from this chapter

Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?

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