The following question has 5 parts (a.-e.), parts b. to e. will be revealed after submitting your answer by hitting Verify on the preceding sections.

Suppose the labour force of an economy is equal to 1,000 and the unemployment on December 2010 is 0. Then, suppose that in January 2011 and every month that follows, 61 workers become unemployed for 1 month, 31 become unemployed for 2 months, 15 become unemployed for 3 months and 8 become unemployed for 13 months.

1. When will the economy reach its steady state?

   Month: JuneAprilJanuaryJulyNovemberDecemberAugustOctoberFebruarySeptemberMarchMayApril

   Year: 201120122012

2. At the steady state, what is the unemployment rate? Express your answer in percentage rounded to the nearest first decimal.

   Correct response: 27.2

3. At the steady state, what is the incidence? Express your answer in percentage rounded to the nearest first decimal.