Suppose That No One Enters or Leaves the Labor Force

question 14

Multiple Choice

Suppose that no one enters or leaves the labor force and that the fraction of the unemployed getting a job (in a given period) is 0.10 and the fraction of the employed becoming unemployed is 0.02.What is the approximate unemployment rate when the flows into and out of unemployment are in balance?

• A) 9%
• B) 10%
• C) 17%
• D) 22%

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