Which of the following is true if everyone who retired in the U.S. left the U.S....
Which of the following is true if everyone who retired in the U.S. left the U.S. to live in another country? Some actually do this as the cost of living can be lower in other countries.
a. U-3 unemployment rate rises, labor force participation rate rises
b. U-3 unemployment rate is constant, labor force participation rate rises
c. U-3 unemployment rate falls, labor force participation rate rises
d. U-3 unemployment rate rises, labor force participation rate falls
e. U-3 unemployment rate is constant, labor force participation rate falls
f. U-3 unemployment rate falls, labor force participation rate falls
Homework Answers
Option b
U-3 unemployment measures the official unemployment rate which includes only people who are actively looking for a job and excludes retired persons, hence it would be not affected and stays constant. Whereas as when retired persons moves out of the country, the number of adult population reduces and hence LFPR increases.
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