Multiple Choice
Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this,
All else equal, the official unemployment rate would
A) decline.
B) increase.
C) increase in the short run but eventually decline.
D) be unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
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