Order the answer to: Here’s a story economists tell each other: A Nobel Prize–winning

Order the answer to: Here’s a story economists tell…

Question	Here’s a story economists tell each other: A Nobel Prize–winning economist flew to New York City for a conference. He got into a cab, and started talking with the cab driver. The cab driver said, “Oh, you’re an economist? Let me tell you, this economy is terrible. I’m an unemployed architect.” The economist immediately replied, “No you’re not, you’re an employed cab driver.” According to the way the U.S. government measures unemployment, who is right?
Subject	business-economics

Question

Here’s a story economists tell each other: A Nobel Prize–winning economist flew to New York City for a conference. He got into a cab, and started talking with the cab driver. The cab driver said, “Oh, you’re an economist? Let me tell you, this economy is terrible. I’m an unemployed architect.” The economist immediately replied, “No you’re not, you’re an employed cab driver.” According to the way the U.S. government measures unemployment, who is right?

Subject

business-economics

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