Saved According to the data: Total population: 20,000 Working-age population: 15,000 Employment: 1,000 Unemployment: 100 The unemployment rate for this simple economy equals: Question 2 options: (100/15,000) 100 (100/1,100) 100 (100/1,000) 100 (100/20,000) 100 Question 3 (2 points) Mike dislikes his part-time schedule, since he really needs more hours at work in order to have enough income to pay his expenses. Given that he is underemployed, he is classified as: Question 3 options: unemployed. a discouraged worker. employed. not in the labor force. Question 4 (2 points) In a business cycle, the period of expansion begins after a ________ and the period of recession begins after a ________ Question 4 options: trough; peak. trough; trough. peak; peak. peak; trough. Question 5 (2 points) If Consumption = 300, Government expenditures = 100, Investment = 150, Exports = 50 and Imports = 75, then Gross Domestic Product (GDP) is: Question 5 options: $425 $675 $550 $525 Question 6 (10 points) Match each term to the correct definition. Question 6 options: Aggregate income Unemployment Inflation Business cycle Aggregate production 1. The way economic activity changes in the economy, where we see trends upwards and downwards. 2. A rise