Problem 05-12 (algo) The towns of Sawyer and Thatcher each have a labor force of 1,200 people. In Sawyer, 200 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Thatcher, every member of the labor force was unemployed for 2 months and employed for 10 months. a. What is the average unemployment rate over the year in each of the two towns? Instructions: Enter your responses rounded to one decimal place. Sawyer: Thatcher: %. %. b. What is the average duration of unemployment spells in each of the two towns? Instructions: Enter your responses as whole numbers. Sawyer: Thatcher: month(s). month(s). c. The costs of unemployment are higher in (Click to select)
Problem 05-12 (algo) The towns of Sawyer and Thatcher each have a labor force of 1,200 people. In Sawyer, 200 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Thatcher, every member of the labor force was unemployed for 2 months and employed for 10 months. a. What is the average unemployment rate over the year in each of the two towns? Instructions: Enter your responses rounded to one decimal place. Sawyer: Thatcher: %. %. b. What is the average duration of unemployment spells in each of the two towns? Instructions: Enter your responses as whole numbers. Sawyer: Thatcher: month(s). month(s). c. The costs of unemployment are higher in (Click to select)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Unemployment
Section: Chapter Questions
Problem 9PA
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Transcribed Image Text:Problem 05-12 (algo)
The towns of Sawyer and Thatcher each have a labor force of 1,200 people. In Sawyer, 200 people were
unemployed for the entire year, while the rest of the labor force was employed continuously. In Thatcher, every
member of the labor force was unemployed for 2 months and employed for 10 months.
a. What is the average unemployment rate over the year in each of the two towns?
Instructions: Enter your responses rounded to one decimal place.
Sawyer:
Thatcher:
%.
%.
b. What is the average duration of unemployment spells in each of the two towns?
Instructions: Enter your responses as whole numbers.
Sawyer:
Thatcher:
month(s).
month(s).
c. The costs of unemployment are higher in (Click to select)
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