In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year. What percentage of the unemployment spells you encountered was short term, and what percentage of the unemployment you encountered in a given week was long term? 52% was short term; 13.3% was long term a. b. C. d. 52% was short term; 88.9% was long term 86.7% was short term; 13.3 was long term 86.7% was short term; 88.9 was long term

In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year. What percentage of the unemployment spells you encountered was short term, and what percentage of the unemployment you encountered in a given week was long term? 52% was short term; 13.3% was long term a. b. C. d. 52% was short term; 88.9% was long term 86.7% was short term; 13.3 was long term 86.7% was short term; 88.9 was long term

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...

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