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Scenario: Suppose an economy consists of only the following economic agents: 2 million full-time ...

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Scenario: Suppose an economy consists of only the following economic agents: 2 million full-time ...

Scenario: Suppose an economy consists of only the following economic agents: 2 million full-time workers, 1 million part-time workers, 1 million people who have been laid off by their employers but are currently looking for employment, 1 million children aged 15 years or younger, and 2 million housewives not looking for jobs.

Refer to the scenario above. What is the number of employed workers in the economy?

▸ 1 million

▸ 2 million

▸ 3 million

▸ 4 million

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 46 times

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