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Business, 25.02.2021 18:40 poweradampower

The government conducts a survey to determine the unemployment rate on Gilligan's Island. The results of the survey are as follows: THE SKIPPER: has a full-time job as a ship's captain GILLIGAN: recently quit his job working on The Skipper's boat, and is looking for a new job on a better ship. MARY ANNE: used to be a secretary but lost her job when her firm replaced all of its secretaries with automated dictation equipment. Is trying to find another secretarial job. GINGER: is employed full-time as an actress and model. THURSTON HOWELL: inherited $20 million at age 17. Has never worked a day in his life and spends his life lounging on the beach. MRS. HOWELL: Thurston's wife; also has never worked; spends her life playing bridge and having tea parties with her friends. THE PROFESSOR: works part-time trying to fix the skipper's boat so that he can leave Gilligan's Island. Wishes he could find full-time work as a professor, but there are no schools on Gilligan's Island. Assuming that we use official US methods, what is the headline unemployment rate on Gilligan's Island? How would the following affect the official headline unemployment rate? (a) Ginger's job is cut back to part-time;
(b) Mrs. Howell gets bored doing nothing, and starts to look for a job as a party planner;
(c) Gilligan stops looking for work after he realizes there are no other boats on Gilligan's Island. [Note: consider the impact of the changes described in parts (a)-(c) one at a time. So, for instance, in part (b), you can assume that Ginger's job is still full time, and in part (c) you can assume that Ginger's job is full time and that Mrs. Howell is not looking for a job).

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The government conducts a survey to determine the unemployment rate on Gilligan's Island. The result...

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