Thanks to U Chicago's Allen Sanderson for sending this along:
COSTELLO: I desire to speak nearly the unemployment charge per unit of measurement inwards America.
ABBOTT: Good "subject". Terrible "times". It's nearly 9%.
COSTELLO: That many people are out of work?
ABBOTT: No, that's 16%.
COSTELLO: You simply said 9%.
ABBOTT: 9% Unemployed.
COSTELLO: Right 9% out of work.
ABBOTT: No, that's 16%.
COSTELLO: Okay, as well as hence it's 16% unemployed.
ABBOTT: No, that's 9%...
COSTELLO: WAIT Influenza A virus subtype H5N1 MINUTE. Is it 9% or 16%?
ABBOTT: 9% are unemployed. 16% are out of work.
COSTELLO: If y'all are out of operate y'all are unemployed.
ABBOTT: No, y'all can't count the "Out of Work" equally the unemployed. You select to await for operate to last unemployed.
COSTELLO: But ... they are out of work!
ABBOTT: No, y'all missy my point.
COSTELLO: What point?
ABBOTT: Someone who doesn't await for work, can't last counted alongside those who await for work. It wouldn't last fair.
COSTELLO: To who?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work...Those who are out of operate stopped looking. They gave up. And, if y'all laissez passer up, y'all are no longer inwards the ranks of the unemployed.
COSTELLO: So if you're off the unemployment roles, that would count equally less unemployment?
ABBOTT: Unemployment would larn down. Absolutely!
COSTELLO: The unemployment simply goes downward because y'all don't await for work?
ABBOTT: Absolutely it goes down. That's how y'all larn to 9%. Otherwise it would last 16%. You don't desire to read nearly 16% unemployment create ya?
COSTELLO: That would last frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a inquiry for you. That way they're 2 ways to convey downward the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment tin larn downward if mortal gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment tin likewise larn downward if y'all halt looking for a job?
ABBOTT: Bingo.
COSTELLO: So in that place are 2 ways to convey unemployment down, as well as the easier of the 2 is to simply halt looking for work.
ABBOTT: Now you're thinking similar an economist.
COSTELLO: I don't fifty-fifty know what the hell I simply said! Sumber https://gregmankiw.blogspot.com/
COSTELLO: I desire to speak nearly the unemployment charge per unit of measurement inwards America.
ABBOTT: Good "subject". Terrible "times". It's nearly 9%.
COSTELLO: That many people are out of work?
ABBOTT: No, that's 16%.
COSTELLO: You simply said 9%.
ABBOTT: 9% Unemployed.
COSTELLO: Right 9% out of work.
ABBOTT: No, that's 16%.
COSTELLO: Okay, as well as hence it's 16% unemployed.
ABBOTT: No, that's 9%...
COSTELLO: WAIT Influenza A virus subtype H5N1 MINUTE. Is it 9% or 16%?
ABBOTT: 9% are unemployed. 16% are out of work.
COSTELLO: If y'all are out of operate y'all are unemployed.
ABBOTT: No, y'all can't count the "Out of Work" equally the unemployed. You select to await for operate to last unemployed.
COSTELLO: But ... they are out of work!
ABBOTT: No, y'all missy my point.
COSTELLO: What point?
ABBOTT: Someone who doesn't await for work, can't last counted alongside those who await for work. It wouldn't last fair.
COSTELLO: To who?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work...Those who are out of operate stopped looking. They gave up. And, if y'all laissez passer up, y'all are no longer inwards the ranks of the unemployed.
COSTELLO: So if you're off the unemployment roles, that would count equally less unemployment?
ABBOTT: Unemployment would larn down. Absolutely!
COSTELLO: The unemployment simply goes downward because y'all don't await for work?
ABBOTT: Absolutely it goes down. That's how y'all larn to 9%. Otherwise it would last 16%. You don't desire to read nearly 16% unemployment create ya?
COSTELLO: That would last frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a inquiry for you. That way they're 2 ways to convey downward the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment tin larn downward if mortal gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment tin likewise larn downward if y'all halt looking for a job?
ABBOTT: Bingo.
COSTELLO: So in that place are 2 ways to convey unemployment down, as well as the easier of the 2 is to simply halt looking for work.
ABBOTT: Now you're thinking similar an economist.
COSTELLO: I don't fifty-fifty know what the hell I simply said! Sumber https://gregmankiw.blogspot.com/
