The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. If 3.0 million workers change jobs every month, total monthly separations in this economy are million. (Round your response to one decimal place.) According to the figure, the average monthly flow out of unemployment each month is million. (Round your response to one decimal place.) In this economy in an average month, the proportion of unemployed leaving unemployment is%. (Round your response to one decimal place.) Enter your answer in each of the answer boxes. 3.2 Unemployment 7.0 million Employment 128.8 million 2.5 4.4 1.6 4.6 1.6 Out of the labor force 88.5 million

The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. If 3.0 million workers change jobs every month, total monthly separations in this economy are million. (Round your response to one decimal place.) According to the figure, the average monthly flow out of unemployment each month is million. (Round your response to one decimal place.) In this economy in an average month, the proportion of unemployed leaving unemployment is%. (Round your response to one decimal place.) Enter your answer in each of the answer boxes. 3.2 Unemployment 7.0 million Employment 128.8 million 2.5 4.4 1.6 4.6 1.6 Out of the labor force 88.5 million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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