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Note: decimal .05 is written as 5% converted into percentage terms, .7 as 70% and so forth Labor force 100000 100000 ______ 100000 100000 ______

Note: decimal .05 is written as 5% converted into percentage terms, .7 as 70% and so forth

Labor force 100000 100000 ______ 100000 100000 ______ 100000 100000 100000

Employed 90000 ______ 95000 ______ 75000 88000 96000 95000 87000

Unemployed 10000 20000 5000 ______ ______ 12000 _____ 5000 13000

Unemployment .10 .20 .05 .15 ___ ___ .04 __ __

Naturalunempl .07 .10 .04 .08 .20 ___ __ .08 .07

Cyclicalunempl. .03 .10 .01 .07 .05 ___ __ __ __

GDP gap -.06 -.20 ___ -.14 -.10 -.12 -.02 *+.06 __

note:cyclical unemployment rate multiplied by-2 = GDP gap, positive GDP gap implies negative cyclical unemployment rate

answers:-.12, -.03, -.02, .01, .03, .05, .06, .06, .06, .12, .13, .25, 4000, 15000, 25000, 80000, 85000, 100000, 100000

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