Economics 102 Fall 2022 Assignment 3 Instructions This assignment is due in class on Thursday, October 27, 2022. If you prefer to submit the assignment online, please use the dr0pbox labelled \"Assignment 3\" on Learn to upload your assignment. This assignment is worth 4%. Goal of the assignment The third assignment is about unemployment. It is a short assignment with two questions. Questions 1. \"The unemployment rate can fall even if the number of unemployed peeple increases.\" Can this statement be true? Using a few lines only, explain why. 2. Assume an economy with a population of 21,000 aged 15 and over. There are 1,000 people who are unemployed, 13,000 people who are employed and 4,000 people who are also unemployed but are not actively looking for work. (i) Calculate the labour force, the employment rate, the unemployment rate and the participation rate (ii) Now imagine that out of the 1000 people who are unemployed, 500 people stop actively searching for work. What happens to the unemployment and participation rate (population over 15 remains and the number of people employed remains the same) (iii) In the above, you should nd that the unemployment rate falls. Is it good news that the unemployment rate fell in this case? Explain why or why not (23 lines will sufce)