If the number of employed workers in a country decreases, the unemployment rate in the country will increase
a. true
b. false
Uncertain / False.
The unemployment rate is defined as Unemployment / (Employment + Unemployment). When the number of employed workers decreases, the number of unemployment may decrease at the same time if there are a large number of people quitting the labor force. If the decrease in the number of unemployment is sufficiently large, the unemployment rate will decrease
You might also like to view...
Gregory is considering attending a concert with a ticket price of $40. He estimates that the cost of driving to the concert and parking there will add an additional $20
In order to attend the concert, Gregory will have to take time off from his part-time job. He estimates that he will lose 5 hours at work, at a wage of $8 per hour. Gregory's opportunity cost of attending the concert equals A) $80. B) $100. C) $40. D) $60. E) $20.
Explain how government policies that redistribute income from the rich to the poor might reduce efficiency
If a friend helps you with your homework, it will not be calculated in the GDP accounts. But if you hire a tutor who reports the income, the services will be counted in GDP.
Answer the following statement true (T) or false (F)
The value of all final goods and services produced domestically in the "underground economy" are not recorded as a part of GDP because production and sale of these goods are either illegal or hidden from tax authorities
Indicate whether the statement is true or false