work eligble population- ?
labor force- ?
not in the labor force but work eligible- 100
employed- 230
unemployed- 20
9. Suppose the natural rate of unemployment = 10%.
(a) Is the economy in a recession or expansion?
(b) Is the actual real GDP greater than or less than full-employment output?
10. Suppose 5 million discouraged workers re-enter the labor force, and they cannot find a job yet. Calculate the new unemployment rate. (Round your answer to the first decimal place.)
Answer: The new unemployment rate = ____________%