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Suppose that a country's annual growth rates over a 10 year period were as follows Growth wate 5% 3 Ye 1 2 3 4 5

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Suppose that a country's annual growth rates over a 10 year period were as follows Growth wate 5% 3 Ye 1 2 3 4 5 6 7 9 10 1 -2 3 4 5 6 3 Instructions: In part around your answer to 1 decimal place in parts b-c, enter your answers as a whole number a What was the country's trend rate of growth over this period? percent b. Which set of years most clearly demonstrates an expansionary phase of the business cycle? Years through c. Which set of years best illustrates a recessionary phase of the business cycle? Years through Assume the following data for a country Category Total population Population under 16 years of age or institutionalized Not in the labor force Unemployed Part-time workers looking for full-time jobs Number of people, Millions 500 120 100 14 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent

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