3)During the course of a year, the labor force consists of the same818people. Of these,16lack skills that employers desire and hence remain unemployed throughout the year. At the same time, every month during the year,30different people become unemployed, and30other different people who were unemployed find jobs. There is no cyclical unemployment.

A)Calculate the frictional unemployment rate.3.67%.

(Enter your response as a percentage rounded to two decimal places).

B)Calculate the unemployment rate5.62%

(Enter your response as a percentage rounded to two decimal places).

C)Suppose that a system of unemployment compensation is established. Each month,30new people (not including the16lacking required skills) continue tobecome unemployed, but each monthly group of newly unemployed now takes two months to find a job. Calculate the frictional unemployment rate after this change.%.(Enter your response as a percentage rounded to twodecimal places).