Show transcribed image text 12. Assume we have an economy with 10 million Labor Force, 9 Million employed and 10 million unemployed. a) What is the unemployment rate (in decimals out to 2 decimal places)? b) Now suppose 7200 of the employed lose their jobs and 9000 of the unemployed find jobs. What is the new unemployment rate (in decimals out to 3 decimal places)? c) No suppose starting with our original numbers for the employed, 8000 of the employed lose their job and 8000 of the unemployed find a job. What is the unemployment rate in this case (in decimals out to 3 decimal places)?

12. Assume we have an economy with 10 million Labor Force, 9 Million employed and 10 million unemployed. a) What is the unemployment rate (in decimals out to 2 decimal places)? b) Now suppose 7200 of the employed lose their jobs and 9000 of the unemployed find jobs. What is the new unemployment rate (in decimals out to 3 decimal places)? c) No suppose starting with our original numbers for the employed, 8000 of the employed lose their job and 8000 of the unemployed find a job. What is the unemployment rate in this case (in decimals out to 3 decimal places)?