You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country: Country Labor Force (millions) Employed (millions) Natural rate of unemployment Bumdumbourge 130 120 6.3% Mundelow 465 437 6.5% Totalslava 88 82 6.9% Potamia 285 264 7.3% Dortugal 311 295 5.5% Prance 396 355 9.2% a. From the data given, which country has the largest number of unemployed people
You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country: Country Labor Force (millions) Employed (millions) Natural rate of unemployment Bumdumbourge 130 120 6.3% Mundelow 465 437 6.5% Totalslava 88 82 6.9% Potamia 285 264 7.3% Dortugal 311 295 5.5% Prance 396 355 9.2% a. From the data given, which country has the largest number of unemployed people
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 6WNG
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You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country:
Country |
Labor Force (millions) |
Employed (millions) |
Natural rate of unemployment |
Bumdumbourge |
130 |
120 |
6.3% |
Mundelow |
465 |
437 |
6.5% |
Totalslava |
88 |
82 |
6.9% |
Potamia |
285 |
264 |
7.3% |
Dortugal |
311 |
295 |
5.5% |
Prance |
396 |
355 |
9.2% |
a. From the data given, which country has the largest number of unemployed people?
b. Totalslava has the smallest number of unemployed people; how does its unemployment rate compare to Bumdumbourge and Mundelow?
c. Which countries are currently in recession? Which countries are experiencing a boom?
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