Suppose employment is 139 million and out-of-labour force is 50 million. Also, each month an average of 2.4 million unemployed quit looking for jobs, 2.5 million employed become unemployed, 2.6 unemployed become employed, and 2.3 million new graduates start looking for jobs. If the average duration of unemployment is 2 months, what is the average number of unemployed per month? (round to the nearest decimal in million) a.9.4 b. 9.0 c. 10.2 d. 9.6

Suppose employment is 139 million and out-of-labour force is 50 million. Also, each month an average of 2.4 million unemployed quit looking for jobs, 2.5 million employed become unemployed, 2.6 unemployed become employed, and 2.3 million new graduates start looking for jobs. If the average duration of unemployment is 2 months, what is the average number of unemployed per month? (round to the nearest decimal in million) a.9.4 b. 9.0 c. 10.2 d. 9.6

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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