Please answer all: The total population of Country A can be categorized as follows:

• 110 people are employed part-time, by choice
• 120 people are employed part-time, but would prefer to work full-time
• 130 people are employed full-time
• 50 students are working in part-time, work-study positions
• 40 people are not employed but are actively seeking work
• 30 people are not working and are not looking for a job
• 10 people are considered discouraged workers
• 35 people are marginally-attached
• 60 people are under age 16
• 15 people are retired, not working and not looking for work
• 40 people are underemployed

a. What is the size of the total labor force in Country A?

b. The (U3) unemployment rate is equal to _____ %

c. Is this economy "fully-employed" according to the U.S. definition? Why or why not?

d. How would the "U6" definition of unemployment differ from your answer to question #3?[Note: You do not have to calculate U6.]

e. True or False. Underemployed individuals are counted as "employed" even though they are not fully using their skills. Justify your answer.

f. True or False. Cyclical unemployment is a result of recessions and economic downturns and is not considered part of the natural rate of unemployment. Justify your answer.

g. Calculate the labor force participation rate (LFPR) using the numbers above.

h. Give an example (real or hypothetical) of structural unemployment.

i. Using Okun's Law, and the unemployment rate calculated above, what would be the percentage loss (or gain) of real GDP?