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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 21
Suppose 20 million people are employed, and five million are unemployed. What is the unemployment rate? Does that number change if we also state that there are an additional 30 million people who are not in the civilian labor force?
Explanation
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Unemployment refers to a situation where...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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