The new round of tax cuts is supposedly intended as post-terror economic stimulus. But recent remarks by Dick Armey give the game away. Defending the bill he and Tom DeLay rammed through the House-the one that gives huge retroactive tax cuts to big corporations―he asserted that it would create 170,000 jobs next year. That would add a whopping 0.13 percent to employment in this country. So thanks to Mr. Armey's efforts next year's unemployment rate might be 6.4 percent instead of 6.5. Aren't you thrilled?

The new round of tax cuts is supposedly intended as post-terror economic stimulus. But recent remarks by Dick Armey give the game away. Defending the bill he and Tom DeLay rammed through the House-the one that gives huge retroactive tax cuts to big corporations―he asserted that it would create 170,000 jobs next year. That would add a whopping 0.13 percent to employment in this country. So thanks to Mr. Armey's efforts next year's unemployment rate might be 6.4 percent instead of 6.5. Aren't you thrilled?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

find the number of unemployed people from the articel. explain your reasoning.

The new round of tax cuts is supposedly intended as post-terror economic stimulus.
But recent remarks by Dick Armey give the game away. Defending the bill he and Tom
DeLay rammed through the House-the one that gives huge retroactive tax cuts to big
corporations he asserted that it would create 170,000 jobs next year. That would add a
whopping 0.13 percent to employment in this country. So thanks to Mr. Armey's efforts
next year's unemployment rate might be 6.4 percent instead of 6.5. Aren't
you thrilled?

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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