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johnpaul92 johnpaul92
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8 years ago
The city of Hope has a labor force of 1000. Twenty people lose their jobs each month and remain unemployed for exactly one month before finding jobs. On January 1, May 1, and September 1 of each year 50 people lose their jobs for a period of four months before finding new jobs.
(a)   What is the unemployment rate in any given month?
(b)   How many unemployment spells are there in a year?
(c)   What is the average duration of an unemployment spell?
(d)   On any given date, how many people are undergoing short spells, and how many are undergoing long spells?
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Macroeconomics

Macroeconomics


Edition: 8th
Authors:
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supamansupaman
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johnpaul92 Author
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#2
8 years ago
Appreciate your help, thank you again
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