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The Bureau of Labor Statistics takes a survey and reports the following unemployment data: Number of Workers Classified as Employed 178 million Number of Workers
The Bureau of Labor Statistics takes a survey and reports the following unemployment data: Number of Workers Classified as Employed 178 million Number of Workers Cyclically Unemployed 12 million Number of Workers Frictionally Unemployed 3 million Number of Workers Structurally Unemployed 7 million Working-age Population 300 million Based on this data, what is the natural unemployment rate in the economy? 3.3 percent 5 percent 6 percent 12 percent 33 percent
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