(f) U3 will decrease and the labor force participation rate will decrease.
As the 67 year old leaves the unemployed pool and labor force, both U3 and labor force participation rate will decrease.
(g)U3 will increase and the labor force participation rate will increase.
Since the student has now entered labor force as well as the involuntary unemployed pool, both will increase.
1. A 64-year old unemployed architect wants to work until age 67, but after several months...
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A firm's labor demand and labor supply equations are shown below. Labor demand equation: Ld = 50 – 4w Labor supply equation: Ls=-20 + 3w, where w is the wage per hour worked, Ld is the number of workers demanded by firms, and Ls...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...