3. ASSUMING THE TOTAL POPULATION IS 100 MILLION, THE CIVILIAN LABOR FORCE IS 50 MILLION, AND...

Question

Question

Answer 1

Answer #1

3. unemployed = labor force - employed = 50m - 47m = 3m

Unemployment rate = unemployed / Labor force * 100 = 3m / 50 m * 100 = 6%

4.

Cyclical rate of unemployment = actual rate of unemployment - natural rate of unemployment

= 9% - 5% = 4%

Answer 2

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