If there are discouraged workers:
a. they are included in the official count of the unemployed
b. the unemployment rate will tend to overstate the true level of unemployment.
c. the unemployment rate will tend to understate the true level of unemployment.
d. they are considered part of the labor force.
c
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The main difference between the price-quantity graph of a perfectly competitive firm and a monopoly is
A) that the competitive firm's demand curve is horizontal, while that of the monopoly is downward sloping. B) that a monopoly always earns an economic profit while a competitive company always earns only normal profit. C) that a monopoly maximizes its profit when marginal revenue is greater than marginal cost. D) that a monopoly does not incur increasing marginal cost.
Suppose that one can read a graph that shows information about price and quantity of some product. Relying solely on the graph, is it possible to explain the relationship between the two variables?