What is the steady-state rate of unemployment

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Suppose that 3% of the employed lose their jobs each month and 15% of the unemployed find a job each month, what is the steady-state rate of unemployment?

Reference no: EM13739625

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What is the steady-state rate of unemployment : Suppose that 3% of the employed lose their jobs each month and 15% of the unemployed find a job each month, what is the steady-state rate of unemployment?
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