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Question: lo 43 calculate the rate of unemployment and discuss the...

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LO 4.3 Calculate the rate of unemployment and discuss the three kinds of unemployment or (10.) An economic slump occurs and two things happen: Many people stop looking for work because they know that the probability of finding a job is low. Many people who become laid off start doing work at home, such as growing food, painting, and repairing their houses and cars. Which of these events implies that the official unem- ployment rate overstates unemployment, and whic n implies the opposite?

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