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Measuring Unemployment

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Measuring Unemployment
Determine the impact on each of the following, if 2 million formerly unemployed workers decide to return to school full time and stop looking for work:
a. The labor force participation rate.
b. The size of the labor force.
c. The unemployment rate.

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Solution Summary

The solution determines the impact of the labor force participation rate, the size of the labor force, and the unemployment rate.

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(a)The labor force participation rate is defined as the proportion of the population working or looking for work. ...

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