If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then OA. unemployment will be close to zero in 11 months. OB. employment is 5,500,000 people. OC. the yearly inflow to unemployment is 500,000 people. O D. the average person will expect to be employed in about 5/11 of a month. OE. the number of unemployed is 5,500,000 people.
If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then OA. unemployment will be close to zero in 11 months. OB. employment is 5,500,000 people. OC. the yearly inflow to unemployment is 500,000 people. O D. the average person will expect to be employed in about 5/11 of a month. OE. the number of unemployed is 5,500,000 people.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Unemployment
Section: Chapter Questions
Problem 4PA
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![If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then
A. unemployment will be close to zero in 11 months.
B. employment is 5,500,000 people.
C. the yearly inflow to unemployment is 500,000 people.
D. the average person will expect to be employed in about 5/11 of a month.
E. the number of unemployed is 5,500,000 people.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4ea1b803-185a-4359-8eaf-d3018314271c%2F41e96500-dd6e-4d56-b3f4-a616d2d01f43%2F9j97tik_processed.png&w=3840&q=75)
Transcribed Image Text:If the monthly outflow from unemployment equals 500,000 people and the average duration of an unemployment spell is about 11 months, then
A. unemployment will be close to zero in 11 months.
B. employment is 5,500,000 people.
C. the yearly inflow to unemployment is 500,000 people.
D. the average person will expect to be employed in about 5/11 of a month.
E. the number of unemployed is 5,500,000 people.
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