1. What is the difference between “out of the workforce” and “Unemployed”?
2. If the number of employed people is 10 million, the number of unemployed people is 2 million, and the total adult population is 18 million, what is:
— The unemployment rate?
— The labor force participation rate?
3. What happens to the unemployment rate when an unemployed person stops looking for work and is no longer in the work force?
4. Is all unemployment bad? Why or why not (answer in 2 sentences or so)
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