Suppose There Are 5 Million Unemployed Workers Seeking Jobs

question 187

Multiple Choice

Suppose there are 5 million unemployed workers seeking jobs.After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work.As a result of this, the official unemployment rate would:

• A)increase in the short run but eventually decline.
• B)increase.
• C)decline.
• D)be unchanged.

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Definitions:

Plane Ticket

A document issued by an airline or a travel agency to confirm an individual's reservation for a specific flight.

Offering Available

Refers to the range of products or services that a company makes accessible to its customers.

Consumers

Individuals or organizations that use or intend to use goods and services generated within the economy.

Utility

The total satisfaction or benefit that a consumer receives from consuming a good or service.