Answer to Question #320553 in Macroeconomics for Nomhle

Question

Calculate the measurement used to assess full employment and based on your answer, explain whether the economy performed.

Answer 1

The unemployment rate in the United States is obtained by dividing the number of unemployed persons by the number of persons in the labor force (employed or unemployed) and multiplying that figure by 100. The economy performs when the country has a jobless rate equal or below what is known as the “non-accelerating inflation rate of unemployment”