This society's Unemployment Rate is_ Do you currently have a job? Are you currently seeking a job? Number of people of this type Question 4 options: Type A No No 650,000 Type B Yes Yes 190,000 Type C No Yes 90,000 Type D No No 200,000

QUESTION 28 In Country the adult population comprised of 200 people. 180 people are employed, and 5 people are unemployed What is the unemployment rate in country 27 OA 2.78% OB 27% Of 5% 00758 OF 25%

Assume that the level of structural, frictional and seasonal unemployment in this simple economy is 4%. The cyclical unemployment rate is Total Population Working-Age Population Employed Unemployed Question 30 a Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. n 3.1% b 4.1% 5.1% 100,000 70,000 50,000 5,000 d 6.1% K

Real Wage Number of Workers Demanded Labor Force Participation Rate 60  120,000,000 30% 70  110,000,000 35% 80  100,000,000 40% 90  90,000,000 45% 100 80,000,000 50% 110  70,000,000 55% 120 60,000,000 60% 130 50,000,000 65% 140 40,000,000 70% 150 30,000,000 75% 160  20,000,000 80% 170    10,000,000 85% Ignore what happened in the previous question. The table above shows some pieces of information about the labor market condition in a country. It shows the number of workers demanded in the country at different levels of real wage. It also shows the labor force participation rates at those real wage levels. For example, if the real wage is 60, only 30% of the civilian population will participate in the labor force. If the real wage is 170, some 85% will participate in the labor force. The general price level in this country is P = 100. The civilian population in this country is 100 million persons. Assume that wages and prices are fully flexible upwards and…