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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 20
Jones is a tool-and-die maker earning $30 an hour. He is suddenly laid off.
(a) He frequents employment agencies, reads want ads, and follows up leads on tool-and-die-making jobs for two weeks. Is he unemployed during this time, as the BLS measures unemployment?
(b) At the end of two weeks, he is offered a job driving a bread truck that pays $9 an hour. He turns it down. Is he unemployed?
(c) He receives an offer of a job as a tool-and-die maker in a city 125 miles away. He turns it down because his teenage children don't want to change high schools. Is he unemployed?
(d) After three months of searching, Jones becomes discouraged and quits looking. Is he unemployed?
(a) He frequents employment agencies, reads want ads, and follows up leads on tool-and-die-making jobs for two weeks. Is he unemployed during this time, as the BLS measures unemployment?
(b) At the end of two weeks, he is offered a job driving a bread truck that pays $9 an hour. He turns it down. Is he unemployed?
(c) He receives an offer of a job as a tool-and-die maker in a city 125 miles away. He turns it down because his teenage children don't want to change high schools. Is he unemployed?
(d) After three months of searching, Jones becomes discouraged and quits looking. Is he unemployed?
Explanation
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Verified
Unemployment rate is given by number of ...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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