1. In June 2009, at the trough of the Great Recession, the Bureau of Labor Statistics announced that of all adult Americans, 140,196,000 were employed, 14,729,000 were unemployed and 80,729,000 were not in the labor force. Use this information to calculate:
   1. The adult population
   2. The labor force
   3. The labor-force participation rate
   4. The unemployment rate

2. Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-participation rate.

1. After a long search, Jon finds a job.
2. Tyrion, a full-time college student, graduates and is immediately employed.
3. After an unsuccessful job search, Arya gives up looking and retires.
4. Daenerys quits her job to become a stay-at-home mom.
5. Sansa has a birthday, becomes an adult, but has no interest in working.
6. Jaime has a birthday, becomes an adult and starts looking for a job.
7. Cersei dies while enjoying retirement.
8. Jorah dies working long hours at the office.

3. Between Jan 2010 and Jan. 2016, US employment increased by 12.1 million workers, but the number of unemployed workers declined by only 7.3 million. How are these numbers consistent with each other? Why might one expect a reduction in the number of people counted as unemployed to be smaller than the increase in the number of people employed?