What is the economic significance of hidden unemployment

Reference no: EM133287156

Question: Suppose that 5 percent unemployment is defined as "full employment", but current unemployment is percent. Suppose further that we have following information: (look at the book for table)

a. What is the amount of "hidden" unemployment when the unemployment rate is 7 percent.

b. If the population is 10,000, what changes occurs in the participation rate as a result of the marginal change in the unemployment rate?

c. What is the economic significance of hidden unemployment? Should measured and hidden unemployment be added to obtain a "total unemployment" figure?

Reference no: EM133287156

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