a)Assume that a society has two types of workers that lose jobs in a given year. Society A has 2
million workers losing their jobs; each person takes a year to find a new job. Society B has 24 million workers losing their jobs; each worker takes a month to find a new job. How many spells’ of unemployment occur each year in the economy? What percentage of the spells is only one month long?
b)If you take all the unemployed workers each year and multiply each by the length of the unemployment spell, how many worker months’ of unemployment would there be in the economy each year? Of all the worker months of unemployment, how many are accounted for by the workers unemployed one year at a time?
c)If the number of employed workers equals 325 million and the number of unemployed workers equals 75 million, what is the unemployment rate?
I do not understand what part of this question is in violation of the honor code. If you DO NOT want to answer it you don’t have too, but STOP flagging this question without telling me whats wrong with it. Thanks