The Village of Lake Meyer has 250,000 people. There are 180,000 people working and 10,500 people looking for a job. Of those whoare unemployed, 5,000 are structurally unemployed and 4,500 are frictionally unemployed. How many people are cyclicallyunemployed?A15,000B 10,500C 1,000D9,500

The objective of the question is to calculate the number of people who are cyclically unemployed in…

Answered: The Village of Lake Meyer has 250,000…

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 1
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The Village of Lake Meyer has 250,000 people. There are 180,000 people working and 10,500 people looking for a job. Of those who are unemployed, 5,000 are structurally unemployed and 4,500 are frictionally unemployed. How many people are cyclically unemployed? A 15,000 B 10,500 C 1,000 D 9,500