Business
Business, 08.03.2021 19:10, jflakes5108

During the course of a year, the labor force consists of the same 6,000 people. Employers have chosen not to hire 420 of these people in the face of government regulation making it too costly to employ them. Hence, they remain unemployed throughout the year. At the same time, 300 different people are always unemployed due to job changes each month during the year. There is no seasonal employment. A. What is the frictional unemployment rate?
B. What is the overall unemployment rate?

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