Business, 15.02.2021 20:00 lovelyheart5337

The nation of CougarLand has a working-age population of 200 million people. Currently, 100 million people have full time jobs and another 35 million people have part-time jobs. Of the 25 million people that would like a job but are not currently employed, 15 million are actively engaged in searching for a job while 10 million have given up looking for a job. Required:
a. Suppose that the 10 million people who have given up looking for a job suddenly all decide to start looking for a job. Calculate the new number of people in the labor force.
b. If these 10 million people enter the labor force will the new unemployment rate be greater than or less than the unemployment rate you calculated in question #4? Explain your reasoning.
c. Explain why the change in the unemployment rate in question #6 exemplifies one of the main criticisms of the unemployment rate.

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The nation of CougarLand has a working-age population of 200 million people. Currently, 100 million...

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