Evaluate: o "Terms Unemployed and Jobless can be used interchangeably." What three types of Unemployment do you know? How do they relate to the natural rate of unemployment? What are the factors of each type of unemployment? Consider official U rates of the U.S. and of Spain in the wake of the Great recession. Which U rate would reflect the actual national labor market conditions better? o Hint: consider the relative sizes of their national gray markets. How does automation affect labor market