1.Recent data for the U.S. reveal the following (all figures in millions).

Total population: 327.0

Under 16 or institutionalized :69.3

Employed: 139.1

Unemployed: 14.6

Use the data to find the following:

a. What is the unemployment rate?

b.What is the labor force participation rate?

c.Assume that 5 million college students graduate from college and start searching for a job, what is the unemployment rate? Did it change?

d.What type of unemployment are the college students?

e.Did the labor force participation rate change with college students searching for a job? If so, what is the new rate?