3. Consider the following model of the labor market. On average, 1 out of 200 people who are employed lose their jobs each month and on average 1 out of 5 people who are unemployed find work each month. (a) Find and plot expressions for (1) the percentage of the labor force who experience a job separation each month, (2) the percentage of the labor force who find a job each month. (b) Compute the natural rate of unemployment. (c) Suppose that Congress passes legislation making it more difficult for firms to fire workers by requiring that firms pay large severance packages to fired workers. i. If this legislation reduces the rate of job separation without affecting the rate of job finding, how will the natural rate of unemployment be affected? ii. Suppose that the legislation also impacts the rate of job finding by making employers more reluctant to hire workers. How will the consequences of the legislation differ from your answer to (i)