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Answer the following questions.
1 What is the difference between being unemployed and being out of the labor
force?
2 How is the unemployment rate calculated?
3 Are all adults who do not hold jobs considired as unemployed?
4 What happens to the unemployment rate when unemployed workers are
reclassified as discouraged workers?
5 What determines the natural rate of unemployment?
6 What is the difference between frictional unemployment and structural
unemployment?
7 When would you expect cyclical unemployment to be rising? Falling?
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