Suppose There Are 25,000 Employed and 5,000 Unemployed Persons

question 74

Essay

Suppose there are 25,000 employed and 5,000 unemployed persons.
a.What is the unemployment rate?
b.If 2,000 of those unemployed became discouraged and quit actively seeking work, what would happen to the unemployment rate? Calculate the new unemployment rate.

Understand the role of equity concerns in economic policy arguments.

Recognize the characteristics of efficient markets.

Understand the defining characteristics of small businesses and their importance in the economy.

Identify the common reasons behind small business failures and strategies to mitigate these risks.

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Definitions:

Apparel Company

A business involved in the design, manufacturing, and/or sale of clothing and fashion accessories.

Stitching Process

The stitching process involves joining fabrics or materials together with thread and needle, commonly utilized in textile manufacturing and tailoring.