Question Assignment description
Consider an economy that consists of the one following financial brokers.
2 million full-time employees
1 million part-time employees
1 million individuals who have been laid off by their employers however are at the moment in search of employment
1 million youngsters of age fifteen years or much less
2 million housewives not in search of jobs
What’s the measurement of the labor drive?
How a lot is the labor drive participation price (I need the precise proportion)?
What’s the official unemployment price, U3 (I need the precise proportion)?
What’s the unofficial underemployment price, U6 (I need the precise proportion)?
If this economy additionally added 1 million retirees, how would that changeU3 if in any respect?
If productiveness for each employee within the nation elevated, what would you anticipate to occur to the labor demand curve, all different issues being equal? Why?
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