Suppose That a Country Has Two Types of Workers-Young Workers

question 26

Essay

Suppose that a country has two types of workers-young workers and older workers.Young workers make up 10 percent of the labor force and normally have a group unemployment rate of 15 percent.Older workers comprise the rest of the labor force and normally have a group unemployment rate of 5 percent.What is the country's natural rate of unemployment? If twenty years earlier,the country experienced a baby boom such that the labor force composition of young workers now jumps to 20 percent,what is the country's new natural rate of unemployment? Comment on your calculations.

---

Definitions:

Form Design View

A feature in database applications like Microsoft Access that allows users to design and modify the layout of forms for data entry.

Visual Basic Button

A control in Visual Basic and VBA environments used to execute code upon clicking.

Database Tools Tab

Part of the user interface in database management software that provides access to tools for managing database structures, creating queries, and performing administrative tasks.

VBA

Visual Basic for Applications, a programming language developed by Microsoft that allows for the creation of user-defined functions and automation within Microsoft Office applications.