If the local government imposed a minimum wage of $4 in production Ville, then employment will decrease by 0.
Who among the following would be counted as unemployed?
If a person does not have a job, has actively sought employment during the previous four weeks, and is currently eligible for employment, they are considered to be unemployed.
How do we figure out the unemployment rate?
To find the proportion of unemployed people, divide the number of unemployed people by the total workforce, and multiply the result by 100.
What is considered the natural rate of unemployment?
Many people believe that a rate of unemployment between 4% and 5% indicates full employment and is not very alarming. The lowest rate of unemployment that exists while inflation is steady or when it is not increasing is known as the natural rate of unemployment.
Learn more about Unemployment: https://brainly.com/question/14227610
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