The economy has part time workers of 20 million people, and full time workers of 130 million people. There are 15 million who have no job and search for one. Lastly, 5 million who have no job but stop searching while waiting for a positive mood in the economy. The unemployment rate in the economy is ____%. (Your answer should include the first decimal point if there is.)

The economy has part time workers of 20 million people, and full time workers of 130 million people. There are 15 million who have no job and search for one. Lastly, 5 million who have no job but stop searching while waiting for a positive mood in the economy. The unemployment rate in the economy is ____%. (Your answer should include the first decimal point if there is.)

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 39CTQ: Under what condition would an increase in the unemployment rate be a positive sign?

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Under what condition would an increase in the unemployment rate be a positive sign?
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