Toward the end of this chapter, it was stated that if half of the 8.8 million involuntary part-time workers in August 2011 were counted as unemployed, then the unemployment rate that month would have been 12.0 percent instead of 9.1 percent. Do the necessary calculations to confirm this statement, using the information in the following figure.

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As the interest rate falls, business firms demand more loanable funds for investment projects. Interest Rate 5% 3% Planned Investment () (Business Demand for Funds) 1.0 1.5 Trillions of Dollars per Year