This assignment addresses unemployment and inflation calculations.

1. The table below gives employment and population values for hypothetical Country A. Calculate the missing values.

2. The table below gives employment and population values for hypothetical Country B. Calculate the missing values.

3. The table below gives employment and population values for hypothetical Country C. Calculate the missing values.

Country	Adult Population	Labor Force	Employed (a)	Unemployed (b)	Unemployment Rate	Labor Force Participation Rate (c)
C	70,000	40,000	(Enter youranswer here.)	(Enter your answer here.)	10.00%	(Enter your answer here.)

4. The official unemployment rate is calculated by the Bureau of Labor Statistics. However, it does not provide a fully accurate measure of the current conditions of the labor market. We've learned that both high and low unemployment rates can be misleading. Based upon the material from this unit, answer the following questions.

1. How does the U.S. government officially measure employment and unemployment in the economy?

(Enter response here.)

1. Why does the official unemployment rate likely underestimate the actual level of unemployment in the economy?

(Enter response here.)

1. What are some possible impacts of the current shortcomings of the unemployment rate?

(Enter response here.)

5.Fifty years ago, the minimum wage in a hypothetical country was approximately $1.50 per hour. At that time, a family with two adults and two children could live in that country for about $50 per week for food and necessities. Fifty years later, the minimum wage in that country is about $8.00 per hour and the cost of living has gone up to approximately $500 per week for an equivalent family of four.

1. How many hours per week would someone have to work to pay for food and necessities for a family with two adults and two children fifty years ago in this hypothetical country?

(Enter response here.)

1. How many hours per week would someone have to work to pay for food and necessities for a family with two adults and two children fifty years later in this hypothetical country?

(Enter response here.)

1. Has the country experienced inflation or deflation?

(Enter response here.)

1. What likely changes have happened in this hypothetical country's economy to cause this outcome?

(Enter response here.)

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