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.) CI 1.7. Unemployment 10.7 million Employment 156.0 million 3.9 2.7 4.1 2.4 3.5 Out of the labor forces 71.7 millia
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.) CI 1.7. Unemployment 10.7 million Employment 156.0 million 3.9 2.7 4.1 2.4 3.5 Out of the labor forces 71.7 millia
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Economics
Transcribed Image Text: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.)
CITIE
Unemployment
10.7 million
Employment
156.0 million
3.9
2.7
2.4
3.5
Out of the
labor force
71.7 million
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