1. The Bureau of Labor Statistics reported that in the second quarter of 2008 the working-age population was 233,410,000, the labor force was 154,294,000, and employment was 146,089,000. Calculate for...

1. The Bureau of Labor Statistics reported that in the second quarter of 2008 the working-age population was 233,410,000, the labor force was 154,294,000, and employment was 146,089,000. Calculate for that quarter the labor force participation rate and the unemployment rate.2. Describe the trends and fluctuations in the unemployment rate in the United States from 1949 through 2013. In which periods was the unemployment rate above average and in which periods was it below average?