Average / 4 3. Problems and Applications Q5 enemy is using its most valuable resourceits people. Two closely watched statistics a Economists use labormarket data to evaluate how well an ec s the percentage of the adult population that is employed). the unemployment rate and the employmentpopulation ratio (calculated a Indicate what happens to the unemployment rate and the employmentpopulation ratio in each of the following scenarios. Effect On... EmploymentPopulation Scenario Unemployment Rate Ratio An auto company goes bankrupt and lays off its workers, who immediately start v v looking for new jobs. After an unsuccessful search, some laid-off workers quit looking for new jobs. v v v Numerous students graduate from college and immediately begin new jobs. A stock market crash leads to large-scale lay-offs of workers aged 55 and above, who decide to retire instead of looking for new jobs