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1. A 64-year old unemployed architect wants to work until age 67, but after several months of unsuccessful job searches, she
f. A 64-year old unemployed architect wants to work until age 67, but after several months of unsuccessful job searches, she
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Answer #1

(f) U3 will decrease and the labor force participation rate will decrease.

As the 67 year old leaves the unemployed pool and labor force, both U3 and labor force participation rate will decrease.

(g)U3 will increase and the labor force participation rate will increase.

Since the student has now entered labor force as well as the involuntary unemployed pool, both will increase.

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