Q.2 Labor employment (10 points) Consider the following data of a country in 2020. Number of persons Working-age population 10000 Employed persons 7830 Persons who are unemployed due to 50 frictional unemployment Persons who are unemployed due to 100 structural unemployment Persons who are unemployed due to cyclical |20 unemployment (a) (3 points) Compute the labor force participation rate. (b) (2 points) Compute the natural rate of unemployment. (c) (5 points) Suppose that the aggregate production function of the country takes the form: Y = 20K0.3 NO.7 where K is the amount of capital used, and N is the number of persons employed. The amount of capital goods in the country is 100. (2 points) Compute the full-employment output of the country. (ii) (3 points) Starting from this full-employment level, if one more person is employed, what is the marginal product of this additional employed person