a. Complete the following table:

Country Adult Population Labor Force Employed Unemployed Unemployment Rate Labor-Force Participation Rate

A 120,000 64,500 60,000 4,500 6.98 53.8

B 46,667 28,000 25,000 3,000 10.71 60

C 70,000 40,000 36,000 4,000 10 57.14

High rate of unemployment in an economy negatively affects individuals, their families, and a nation as a whole since labor force is a very important productive resource. Based on this background information and the table you completed under "3a", answer the following questions.

b. How does the government officially measure employment and unemployment in the economy? Why is it usually stated that the official unemployment rate likely underestimates the actual level of unemployment in the economy?

c. Based on the table under "3a", describe the relationship between employment and economic well-being in the economy for each country. What are the impacts of labor force utilization and high unemployment rate on the national economy of country A, B, and C?

Now that you have segmented the components of macroeconomic aggregates, explain their implications on the national economy. Provide examples based on your answers above and explain how CPI affects consumers, how CPI affects price, the effects of employment and unemployment on the U.S. economy, and how the changes in living standards could affect employees and the national economy.