Unemployment Worksheet, economics homework help

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Unemployment Worksheet, economics homework help

Unemployment

1.Define discouraged workers. What happens to the Labor Force Participation Rate when there are more discouraged workers? Are there likely to be more discouraged workers when the economy is booming or when the economy is in recession?

2.Even when the economy is strong, there will be some people who are temporarily unemployed because they are engaged in job search activities. What does this imply about the economy’s natural or full-employment rate of unemployment? Be specific.

3.Use the hypothetical data in the table below to calculate the Labor Force and the rate of unemployment in each year.

UnemployedEmployed

Year 19.6 million150.4 million

Year 212.4 million142.6 million

Year 1

Labor Force =unemployment rate =

Year 2

Labor Force =unemployment rate =

 
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