Q24

Question 24 4 pts In the following blanks, enter percentage as a whole number, not a decimal. Do not enter a percentage sign) Imagine a hypothetical economy with a population of 100 people, 80 of which are over sixteen. Forty eight of these people are working and twelve people who are willing, able and looking for work cannot find jobs. The labor force participation rate for this economy is A) % and the unemployment rate is B) % . Now suppose that 10 of those people who can't find jobs get discouraged and give up looking for work. There are no other changes in the economy. Now, the labor force participation rate is C) o and the unemployment rate is D) %.use the numbers below 10 jill in the blanks Inal require words of phrases. Some of these numbers you may use more than once. Some you wont use at all 1) Benefit(s) 17) Hurts 2) Businesss cycle 18) Inflation 3) Contraction 19) Inflationary gap 4) Cost(s) 20) Natural 5) Cyclical 21) Price 6) Deflation 22)\\ Recession 7) Demand 23) Recessionary gap 8) Down 24) Shortage 9) Expansion 25) Spending 10) Flexible 26) Sticky 11) Frictional 27) Structural 12) Great Contraction 28) Supply 13) Great Depression 29) Surplus 14) Great Expansion 30) Unemployment 15) Great Recession 31) Up 16) Growth 32) Wage