What is the probability that an unemployed worker finds job

Assignment Help Business Economics

Reference no: EM13893386

Assume an economy with a total population equal to 1. Individuals can only be employed or unemployed. Suppose this economy’s steady-state unemployment rate is 5%. We know that workers can lose their jobs and become unemployed with probability 4%. What is the probability that an unemployed worker finds job?

Reference no: EM13893386

Questions Cloud

Develop an alternative analysis for a family of three : Develop an alternative analysis for a family of three, where both parents work fulltime and the third person is a young child, looking to purchase a $150,000 dwelling and they are considering whether to purchase a single family home, a townhouse, or ..

Integrate the functional systems : Enterprise systems integrate the functional systems such as accounting, finance, marketing, and operations. Another advantage of enterprise systems is that processes become more automated or totally automated, which increases efficiency.

Lawyer working for large law firm and earning : Pat, a lawyer working for a large law firm and earning $62,000 per year, is contemplating setting up her own law practice. She estimates that renting an office would cost $11,000 per year; hiring a legal secretary would cost $22,000 per year; How muc..

What was the primary conclusion? : What was the primary conclusion?

What is the probability that an unemployed worker finds job : Assume an economy with a total population equal to 1. Individuals can only be employed or unemployed. Suppose this economy’s steady-state unemployment rate is 5%. We know that workers can lose their jobs and become unemployed with probability 4%. Wha..

Most salient intellectual property issues : In your opinion, what are the most salient intellectual property issues raised by the use of IT? Explain.

How it impacts a company stakeholders like communities : In reference to Corporate social responsibility and how it impacts a company's stakeholders like communities

Provide goods or services for capital formation : Among the families you know, how many work for companies that provide goods or services for capital formation—that is, for investment purposes rather than for consumption?

Snacks-beverages versus newspaper sales techniques : Snacks/beverages versus newspaper sales techniques and expand your discussion to include the benefits that a person gets from consuming other goods and services. Apply the marginal utility and diminishing marginal utility analysis concepts when posti..

User Account

All Pages