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ECO 372 Week 2 Worksheet
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Week 2 Worksheet
- What are discouraged workers? Are there likely to be more discouraged workers when the economy is booming or when the economy is in recession?
- Even when the economy is strong, there will be some people who are unemployed because they recently entered the labor force or lost/left a job and are engaged in job search. What does this imply about the economy’s natural or full-employment rate of unemployment? Be specific.
- Use the hypothetical data in the table below to calculate the Labor Force (in millions) and the rate of unemployment (as a percentage) in each year.
Unemployed Employed
Year 1 9.6 million 150.4 million
Year 2 12.4 million 142.6 million
Year 1
Labor Force = unemployment rate =
Year 2
Labor Force = unemployment rate =