Suppose There Are 6 Million Unemployed Workers Actively Seeking a Job.After

question 43

Multiple Choice

Suppose there are 6 million unemployed workers actively seeking a job.After a period of time,1,500,000 of these workers become discouraged and no longer look for employment.If everything else remains constant,the unemployment rate will

• A)Decrease.
• B)Increase.
• C)Remain unchanged until the unemployed find a job.
• D)Increase initially but decrease when the phantom unemployed receive unemployment benefits.

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Definitions:

Equal To Zero

A state or condition where a value, quantity, or balance is zero.

Price-Elasticity Coefficient

A measure showing the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price.

Midpoint Formula

A method used to calculate the elasticity of demand or supply by dividing the percentage change in quantity demanded or supplied by the percentage change in price, using the average of the initial and final values.