Calculate the unemployment rate associated with each scenario in the following table. Assume that each scenario describes the only labor changes in this economy. Scenario Unemployment Rate A: Firms reduce work hours by 20%. The number of involuntary part-time workers rises as firms respond to the reduction in the demand for their products by reducing the hours of each employed person from 40 to 32 hours per week. B: Firms reduce employment by 20%. The number of unemployed workers rises as firms respond to the reduction in the demand for their products by laying off 23 previously employed workers. True or False: The unemployment rate for scenario A in the previous table overstates the true extent of underemployment in the economy BLS counts part-time workers as employed