Chapter 1. Chapter 7 – Question 2
Step 1
Work It Out
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You must read each slide, and complete any questions on the slide, in sequence.
Question
The residents of a certain dormitory have collected the following data: People who live in the dorm can be classified as either involved in a relationship or uninvolved. Among involved people, 5 percent experience a breakup of their relationship every month. Among uninvolved people, 20 percent enter into a relationship every month. What is the steady-state fraction of residents who are uninvolved?
Fraction of Residents Uninvolved = A255kpKirpql0ofU1oKxAzLQrG0SUdne
Review Section 7-1 for a discussion of labor market transitions and the natural rate of unemployment.
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