Hi, please give a try i will vote for helpful as long its not short and bad answer, thank you

Q3. Finding the finding rate. To keep things simple, the textbook model focuses on a situation where employment and the labour force are constant, and assumes that the employed and the unemployed have the same probability of finding a job in a given month, and this probability is denoted f. We would like to find the value of f. (a) The textbook model also makes use of the variables s, Z, N, U, L and u. What are these? s the share of employed workers who apply for other jobs and leave, independently of whether or not they find another job Z the share of employed workers who apply for other jobs and quit if they find one N the number of workers employed U the number of workers unemployedL =N+U n =U/L [b] How manyiob openings are there each month? (C) The number of job openings left by those who leave for exogenous reasons is N ' s. The number of job openings left by those who quit on]y if they get another job is N . Z . f. Thus the total number ofjob openings is Ns + NZf. How many people are seeking a job? This consists of the workers unemployed at the beginning of the month, U, plus those who quit exogenously N s, plus those searching on the job N Z. Thus, the total number ofpeople looking for work is given by U + Ns + NZ. (d) What is the probability I that a job seeker nds a job in a given month? number of openings f _ number of seekers f _ Ns + NZf ' U + Ns + NZ u + Ns+ NZ) = Ns + N2)\" Uf+ st+ NZf = Ns+NZf Uf+ st: Ns Ns u+s Note that the last step uses the approximation L =5 N. In fact, L = N + U, but since N is generally about 15 to 20 times larger than U, the approximation is not too far wrong, and it simplifies the math quite a bit. How does the value off that you just found depend on s, u, and 2? Give an intuitive interpretation for each variable. a . . . . i > ID : as the rate of exogenous separation Increases, there are more Job openings and it is easier to find a job. 3f a