ASSIGNMENT -
Q1. What is the labor force?
Q2. Suppose you are able-bodied and intelligent, but lazy. You'd rather sit at home and watch television than work, even though you know you could find an acceptable job if you looked.
a. Are you officially unemployed?
b. Are you a discouraged worker?
Q3. Can you do anything to reduce the number of people in the following categories? If so, what?
a. Frictionally unemployed
b. Structurally unemployed
c. Cyclically unemployed
Q4. Does the GDP gap measure all of the costs of unemployment? Why or why not?
Q5. Why do teenagers have the highest unemployment rate in the economy?