1. Labor Market StatisticsType of statisticNumber (millions)Population under the age of 16Population over the age of 16RetireesDiscouraged workersFrictionally unemployedStructurally unemployedCyclically unemployeda. How many people are in the country’s laborforce?b. What is the labor force participation rate?c. What is the unemployment rate?d. What is the natural unemployment rate?e. What is the rate of cyclical unemployment?2. Interest Rates and InflationYear2006200720082009ExpectedActual2%1%2%7%This table shows inflation and interest rate dataon loan contracts in different years.a. Fill in the âReal interest ratesâ column.b. In which year(s) were the actual real interestrates on loan contracts negative?c. In which year(s) did lenders gain at theexpense of borrowers?d. In which year(s) did borrowers gain at theexpense of lenders?
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