Consider an economy where a. adult population increases by 5% b. labor force increases by 3% c. number of unemployed persons increases by 3% Compute the percentage changes in the labor force participation and unemployment rates. Note: the changes in LFPR and U-rate are shown as a percent of their initial values, not in percentage points! (Hint: In order to calculate percentage changes in LFP and unemployment rates, you do not need the initial values.)

Consider an economy where a. adult population increases by 5% b. labor force increases by 3% c. number of unemployed persons increases by 3% Compute the percentage changes in the labor force participation and unemployment rates. Note: the changes in LFPR and U-rate are shown as a percent of their initial values, not in percentage points! (Hint: In order to calculate percentage changes in LFP and unemployment rates, you do not need the initial values.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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