Suppose an economy has 10,000 people who are not working but looking and available for work...

Suppose an economy has 10,000 people who are not working but looking and available for work and 90,000 people who are working. What is its unemployment rate?

Now suppose 4,000 of the people looking for work get discouraged and give up their searches. What happens to the unemployment rate? Would you interpret this as good news for the economy or bad news? Explain.

Expert Solution

Rahul Sunny answered 2 years ago

Suppose that people without jobs who were looking for work stop doing so. Other things the...

Suppose that people without jobs who were looking for work stop doing so. Other things the same, this makes the labor force will remain the same and the unemployment rate falls both the labor force and the unemployment rate remains the same both the labor force and the unemployment rate fall the labor force will fall while the unemployment rate remains the same

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Are there some people who simply can’t be motivated at work? Discuss.

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