During the course of a year, the labor force consists of the same 963 people. Of...

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During the course of a year, the labor force consists of the same 963 people. Of these, 15 lack skills that employers desire

business economics

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Answer 1

Answer #1

Solution:-

Calculate the frictional unemployment rate -

Frictional unemployment = 22

labor force = 963

Frictional unemployment rate = (Frictional unemployment/Labor force)*100

= (22/963) * 100

= 2.28%

The frictional unemployment rate is 2.28%.

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Answer 2

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During the course of a year, the labor force consists of the same 963 people. Of...

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