In a particular economy, the labor force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month 3% of the workers who were employed at the beginning of the month lose their jobs, and 18% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 14.29%. For the rates of job loss and job finding given, what will the unemployment rate be in February? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 5% of those employed. The job loss rate returns to 3% in May, while the job finding rate remains unchanged at 18% throughout. Find the unemployment rate for April.%. (Enter your response as a percentage rounded to two decimal places.)

In a particular economy, the labor force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month 3% of the workers who were employed at the beginning of the month lose their jobs, and 18% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 14.29%. For the rates of job loss and job finding given, what will the unemployment rate be in February? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? 14.29 %. (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 5% of those employed. The job loss rate returns to 3% in May, while the job finding rate remains unchanged at 18% throughout. Find the unemployment rate for April.%. (Enter your response as a percentage rounded to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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