Suppose 25,000 persons become unemployed. You are given the following data about the length of unemployment spells in the economy: Duration of Spell (in months) Exit Rate 1 0.60 2 0.20 3 0.20 4 0.20 5 0.20 6 1.00 where the exit rate for month t gives the fraction of unemployed persons who have been unemployed t months and who "escape" unemployment at the end of the month. (a) How many unemployment-months will the 25,000 unemployed workers experience? (b) What fraction of persons who are unemployed are "long-term unemployed" in that their unemployment spells will last 5 or more months? (c) What fraction of unemployment months can be attributed to persons who are long-term unemployed?