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Chapter 21: Q. 42 (page 525)

Is it desirable to pursue a goal of zero unemployment? Why or why not?

Short Answer

Expert verified

Zero unemployment is not desirable for the country because it means that there is no growth of economic growth.

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. Zero Unemployment.

Zero unemployment is not desirable for the country because it means that there is no growth of economic growth. The industries will not be able to expand existing business and people would have no scope to change their jobs and the economy will not try to grow.

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Most popular questions from this chapter

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.

What is the difference between being unemployed

and being out of the labor force?

As the baby boomer generation retires, what should happen to wages and employment? Can you show this graphically?

Is the higher unemployment rates for minority workers necessarily an indication of discrimination? What could be some other reasons for the higher unemployment rate?

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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