Suppose the town of Boone has a total population of 50,000 people. Of those, 45,000 people are employed. There are 1,000full-time students who are not employed or actively seeking work. The rest of the people are out of work but have beenactively seeking work within the past four weeks.Instructions: In part a, round your answer to 1 decimal place. In part b, enter your answer as a whole number.a. What is Boone's unemployment rate?81 percentb. Suppose there are 2,000 people who are unemployed as a result of cyclical unemployment and 1,000 people who areunemployed as a result of structural unemployment. How many people are unemployed as a result of frictionalunemployment?2000

Total Population = 50000 peopleEmployed = 45000 peopleStudents = 1000 peopleTherefore, people who…

Answered: Suppose the town of Boone has a total…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 32CTQ: Do you think perfect indexing is possible? Why or why not?

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