1a. Use the table below to answer the following questions. Suppose there are 15.66 million people...

1a.

Use the table below to answer the following questions.

Suppose there are 15.66 million people employed in the economy.

	Percent of Labor Force
Cyclically Unemployed	2.62%
Frictionally Unemployed	3.09%
Structurally Unemployed	3.96%

Instructions: Round your answers two decimal places.

What is the unemployment rate? %

What is the natural rate of unemployment? %

1b.

Suppose you have been given the following information from a government and asked to compute the annual inflation rate.

Instructions: Round your answers to two decimal places.

CPI Values and Inflation

Year	CPI	Inflation Rate (percent)
2009	212.61	—
2010	216.53	%
2011	223.14
2012	229.36
2013	232.03
2014	234.61

Expert Solution

Rahul Sunny answered 2 years ago

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