2. In Littleville, which has 1,000 residents, 400 people do not currently work. Of these 400 persons, 240 are under age 16, 10 are institutionalized, 25 have become discouraged and quit seeking work, and 75 others are either full-time students or homemakers. Of the 600 people who do work, 150 work part-time but wish to work full-time. Based upon the information provided above, answer the following questions providing a clear explanation A. How many people are counted as officially counted as employed in Littleville? B. What is the employment-population ratio in Littleville? C. What is the official unemployment rate in Littleville? 3. Why does the BLS measure of unemployment tend to understate the extent of economic hardship? 4. How might the government counter frictional unemployment? structural unemployment? cyclical unemployment