Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment.[4 points]

a. Tim just graduated from college and is looking for a job. _____________

b. A recession causes a local factory to lay off 30 workers. ______________

c. Thousands of bus and truck drivers permanently lose their jobs to self-driving vehicles.

____________

d. Hundreds of New York legal jobs permanently disappear when a lot of legal work gets outsourced to lawyers in India.________________

Assume the following data for a country:

Category	Number of People, Millions
Total population	500
Population under 16 years of age or institutionalized	120
Not in the labor force	120
Unemployed	13
Part-time workers looking for full-time jobs	10

Instructions: Enter your answers as a whole number. Show your work [6 points]

a. What is the size of the labor force?

_________________million

b. What is the official unemployment rate?

______________ percent

The following table shows a person's nominal and real wages for three years, as well as the price level (price index) for each year. Fill in the blanks in the table, and then calculate the annual inflation rate for each year (not including the Year 1)

Instructions:Round your answers to2 decimal places. Show your work [5 points]

Year	Nominal Wage ($)	Real Wage ($)	Price Level	Inflation Rate (%)
1	9.00	5.00
2	16.00		200.00
3		7.50	240.00