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Consider an economy with 100 people unemployed and 900 employed. Its finding rate is 90% and its separation rate is 20%. 1.What is the current

Consider an economy with 100 people unemployed and 900 employed. Its finding rate is 90% and its separation rate is 20%.

1.What is the current unemployment rate?

2.How many people loose/leave a job in period 1?

3.How many people find a job in period 1?

4.What is the natural rate of unemployment?

5.Is this economy currently in an expansion or recession? How do you know?

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