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Explain How the Labor Force Participation Rate,the Unemployment Rate,and the Percentage

question 40

Essay

Explain how the labor force participation rate,the unemployment rate,and the percentage of the labor force employed part time change in a recession.


Definitions:

Median-Voter Model

A political theory suggesting that the outcome of majority rule voting systems will represent the preferences of the median voter.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be enjoyed by all members of society without reducing its availability to others.

Majority Vote

A decision rule that selects alternatives which have a majority, that is, more than half the votes.

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