Question: 1. Suppose you are given the following data for a small economy: Number of unemployed workers: 1,000,000 Labor force: 10,000,000 Based on this data, answer

1. Suppose you are given the following data for a small economy: Number of unemployed workers: 1,000,000 Labor force: 10,000,000 Based on this data, answer the following: a. What is the unemployment rate? b. Can you determine whether the economy is operating at its full employment level? c. Now suppose people who had been seeking jobs become discouraged, and give up their job searches. The labor force shrinks to 900,500 workers, and unemployment fails to 500,000 workers. What is the unemployment rate now? Has the economy improved

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