PLEASE TYPE YOUR ANSWER 5. In an economic slowdown, the unemployment rate rises,

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PLEASE TYPE YOUR ANSWER

5. In an economic slowdown, the unemployment rate rises, because employment growth slows or declines. But how high the jobless rate goes can depend on how fast the labor force grows. Explain how labor force growth plays a role here and why 6. The U.S. jobless rate fell last month to its lowest level in three years. Is that necessarily a sign the ec onomy is improving? 7. Some believe the number of jobs created, rather than the unemployment rate, gives a more timely indication of the state of the economy. Explain what thinking must lie behind this statement Some politicians argue that introducing more widespread use of wind and solar energy will add a significant number of green jobs. What would you have to know to determine if the increased use of such green technologies would tend to increase, decrease, or leave unchanged total U.S. employment? Be specific

Explanation / Answer

6. The labor force consists of the non-institutionalized people having a legal age to work. When new people join the labor force, the labor force increases. If the labor force grows faster than the rate at which new jobs are created, the unemployment rate will keep increasing. The unemployment rate will keep increasing up to the point at which the rate of new job creation equals the rate at which the labor force increases.

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