Suppose there are 100 million workers in the economy and


Suppose there are 100 million workers in the economy, and full employment is defined as 96% of them being employed. Also suppose that, given current technology, each $10 billion in output employs one million workers. What is the full-employment level of output? If actual output is $850 billion, what would you expect the unemployment rate to be?

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Business Economics: Suppose there are 100 million workers in the economy and
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