1. List two policies that could reduce frictional unemployment
2. Explain four reasons why firms might choose to pay efficiency wages.
Suppose a state has 8,022,270 adults employed, 693,494 adults unemployed, and 3,584,570 adults outside the labor force.
3. What is the size of the labor force in this state?
4. What is the unemployment rate in this state, rounded to the nearest percent?
5. What is the adult population of this state?
6. What is the labor force participation rate in this state, rounded to the nearest percent?
7. The most direct effect of increasing the availability of public transportation would be to
8. The most direct effect of reducing the minimum wage would be to