1., explain the difference between each of the three types of unemployment. Use ONE real world example of each type (not from the book) that illustrate each type. (20)

2. , explain the difference between race, gender, age, education and income in explaining the differences in unemployment. (20)

3., explain the difference between the natural rate of unemployment and the actual rate of unemployment as reported by the US Department of Labor. Do NOT just discuss numbers, what is the difference? (20)

4. Who keeps track of the unemployment rate and the inflation rate? When do they report on them? How do they calculate both rates? (20)

5. What are the problems with the consumer price index. Explain what the problems are and how they could be fixed. (20 pts)