Based on the data in the table below, Population Labor force Unemployment rate Year 1 320 million 150 million 6 percent b. Unemployment rate. In Year 2, what happens to each of the following when 1 million job seekers become "discouraged workers"? a. Number of unemployed persons. O Uncertain O Increases O No change O Decreases Year 2 330 million 160 million 6 percent O Decreases O Increases O Uncertain O No change c. Number of employed persons. O Uncertain O Decreases O Increases O No change 4

Based on the data in the table below, Population Labor force Unemployment rate Year 1 320 million 150 million 6 percent b. Unemployment rate. In Year 2, what happens to each of the following when 1 million job seekers become "discouraged workers"? a. Number of unemployed persons. O Uncertain O Increases O No change O Decreases Year 2 330 million 160 million 6 percent O Decreases O Increases O Uncertain O No change c. Number of employed persons. O Uncertain O Decreases O Increases O No change 4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Based on the data in the table below,
Population
Labor force
Unemployment rate
b. Unemployment rate.
Year 1
320 million
150 million
6 percent
In Year 2, what happens to each of the following when 1 million job seekers become "discouraged workers"?
a. Number of unemployed persons.
O Uncertain
O Increases
O No change
O Decreases
O Decreases
O Increases
O Uncertain
O No change
Year 2
330 million
160 million
6 percent
c. Number of employed persons.
O Uncertain
O Decreases
O Increases
O No change
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Step 1: Defining the Labor Force.

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Please see below.
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Note: The answer should be typed.
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