A friend and fellow student shares her employment experience over the last 12-week summer break. It took her one full week to find a job. She started on the first day of week two and was able to keep her job for the remaining eleven weeks. Use this information to answer the following three questions, assuming the unemployment rate is not changing: 1. Calculate the rate of job finding (f) for the summer, using an average rate per week. Enter this value in the box below. Note that if fis the rate of job finding, then the average spell of unemployment is (1/f). The value of fis: 1 2. Calculate the rate of job separation (s), using an average rate per week. Enter this value into the box below. Note that if s is the rate of job separation, then the average length of employment is (1/s). The value of s is: 11
A friend and fellow student shares her employment experience over the last 12-week summer break. It took her one full week to find a job. She started on the first day of week two and was able to keep her job for the remaining eleven weeks. Use this information to answer the following three questions, assuming the unemployment rate is not changing: 1. Calculate the rate of job finding (f) for the summer, using an average rate per week. Enter this value in the box below. Note that if fis the rate of job finding, then the average spell of unemployment is (1/f). The value of fis: 1 2. Calculate the rate of job separation (s), using an average rate per week. Enter this value into the box below. Note that if s is the rate of job separation, then the average length of employment is (1/s). The value of s is: 11
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:A friend and fellow student shares her employment experience over the last 12-week summer break. It took her one full
week to find a job. She started on the first day of week two and was able to keep her job for the remaining eleven weeks.
Use this information to answer the following three questions, assuming the unemployment rate is not changing:
1. Calculate the rate of job finding (f) for the summer, using an average rate per week. Enter this value in the box below.
Note that if fis the rate of job finding, then the average spell of unemployment is (1/f).
The value of fis: 1
2. Calculate the rate of job separation (s), using an average rate per week. Enter this value into the box below. Note that if s
is the rate of job separation, then the average length of employment is (1/s).
The value of s is: 11
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