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Calculates unemployment rate

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How does BLS (Bureau of Labor Statistics) calculates unemployment rate? Explain all the steps.

Why there is always some unemployment in the economy? Explain the difference and causes of structural and frictional unemployment.

What is natural rate of unemployment and how it is different from cyclical unemployment?

Who are discouraged workers? Are they included in labor force?

There was a recent proposal of increase in minimum wages to $15. What do you think about this proposal.

Reference no: EM131270353

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