1. Consider an economy with a constant working-age population L. Let E, and U, denote the numbers of employed and unemployed individuals at time t, and let 0r denote the number of individuals who are out of the labor force (we have 0, = L - E t - U,). Assume that each period, a action s of employed workers are separated om their jobs and leave the labor force (they move om Eir to 0,) a action j of those who are not in the labor force join the pool of unemployed workers (they move from 0, to E,), and a fraction f of unemployed workers nd jobs (they move 'om U, to E,). Assume that nobody moves directly om E, to U,, or 'om U, to 0,, or from 0, to E,. A. (8 points) Write down the dynamic equations that determine 0,, E,, and U,, for given values of 0\