Ask Question
9 June, 22:58

Scenario 28-1 Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment. Refer to Scenario 28-1. How many people are unemployed

+3
Answers (1)
  1. 10 June, 00:20
    0
    Answer: 3 million.

    Explanation:

    Unemployment is defined as when a member of a Country's labor force is jobless but actively looking for work.

    In the Scenario 28-1, the discouraged people are not counted as they are discouraged and not looking for work and 1 million other people being students and retirees amongst others are not looking for work either.

    The unemployed section of Mankiwland is therefore the 3 million unemployed people.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Scenario 28-1 Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers