Question

In: Economics

A discouraged worker is a worker who does not have a job and has not made...

A discouraged worker is

a worker who does not have a job and has not made any efforts to find a job within the previous four weeks.

a person who only works part time but wants full-time work.

a worker who is looking for a job but can't find one.

counted as unemployed in the official labor market statistics.

a worker who is unhappy at his or her job

Full employment occurs when

the unemployment rate is below 6 percent.

there is no cyclical unemployment.

the unemployment rate is zero.

the frictional unemployment rate is equal to the structural unemployment rate.

there is no frictional unemployment.

Potential GDP is the level of

real GDP that the economy could produce at full employment.

nominal GDP that is smaller than the real GDP.

GDP that is impossible to achieve.

GDP that fluctuates around actual GDP.

GDP that would be produced if all workers were fully employed and there was no unemployment.

Use the table for the question(s) below.

Category	Number of people
Working age population	550,000
Number employed	361,000
Number unemployed	19,000

Using the table above, the labor force participation rate is

69.1%

65.6%

51.0%

73.8%

Use the table for the question(s) below.

Category	Number of people
Working age population	550,000
Number employed	361,000
Number unemployed	19,000

Using the table above, the unemployment rate is

5.0%

3.5%

2.6%

2.1%

Expert Solution

Rahul Sunny answered 2 years ago

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