Econ 1312.003/004 Quiz #3 Name ristan Clark Score: Print Last Name, First Name Measuring Unemployment: Use the information in the table below to respond to item 1. Unemployed Employed Year 1 Labor Force L. F = empt unemp 90,250 95,000 Year 2 3,430 94,570 1. Year 1 unemployment rate = and Year 2 unemployment rate = Measuring Inflation, Real Income and Purchasing Power: Use the information in the table below to respond to items 2 and 3. Year CPI Nominal Income Real income 1 95 $47,500 97, 500 / 95 x 100 = 2 100 $50,000 3 108 $51,840 4 116 $56,840 2. Year 3 inflation rate = Year 4 inflation rate = Round your answers to the tenth (one decimal place). 3 . The purchasing power of this person's income Stayed Same from year 1 to year 2 and from year 2 to year 3