Community Planning In Unemployment Emergencies

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Consumer demand may rise because legalization may reduce the stigma around a previously banned product. Two major sub-fields of economics are microeconomics and macroeconomics. One rule of thumb to measure the output gap is called Okun's Law. The U-4 rate, which includes discouraged workers, fell from 7% to 5.9% during that period, while the very expansive U-6 rate declined from 11.8% to 10.4%. (Recall that the U-4 rate includes the U-3 rate within it, and that the U-6 rate includes both, as well as marginally attached workers and some part-time workers.) The question Castillo sought to address, then, was how much of the reduction in the more expansive rates is distinct from the decline seen in the official unemployment figure.

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Publisher: Russell Sage Foundation (1930)

ISBN: B00GKRRS1G

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