1. What would happen to the measured unemployment rate if unemployed individuals left the labor force because they no longer believed they could get jobs? 2. Part-Time Work. Paul and Karen are...

1. What would happen to the measured unemployment rate if unemployed individuals left the labor force because they no longer believed they could get jobs?

2. Part-Time Work. Paul and Karen are married. Karen works as a stockbroker while Paul works part time to take care of their kids at home. He is happy with this arrangement. Is Paul unemployed? Would he be counted as working part time for economic reasons?