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Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Scenario A financial firm goes bankrupt and lays off its workers, who immediately start working in other financial firms. After a long search, some laid-off workers find new jobs. Numerous students graduate from college and immediately begin new jobs. A stock market boom induces newly enriched 60-year-old workers to take early retirement. Unemployment Rate Effect On... Employment-Population Ratio

Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Scenario A financial firm goes bankrupt and lays off its workers, who immediately start working in other financial firms. After a long search, some laid-off workers find new jobs. Numerous students graduate from college and immediately begin new jobs. A stock market boom induces newly enriched 60-year-old workers to take early retirement. Unemployment Rate Effect On... Employment-Population Ratio

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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6. Ch. 20 Problems and Applications Q5 Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Scenario A financial firm goes bankrupt and lays off its workers, who immediately start working in other financial firms. After a long search, some laid-off workers find new jobs. Numerous students graduate from college and immediately begin new jobs. A stock market boom induces newly enriched 60-year-old workers to take early retirement. Unemployment Rate Effect On... Employment-Population Ratio
Transcribed Image Text:6. Ch. 20 Problems and Applications Q5 Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Scenario A financial firm goes bankrupt and lays off its workers, who immediately start working in other financial firms. After a long search, some laid-off workers find new jobs. Numerous students graduate from college and immediately begin new jobs. A stock market boom induces newly enriched 60-year-old workers to take early retirement. Unemployment Rate Effect On... Employment-Population Ratio
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