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Complete the following table by computing the unemployment rate for each age group. Unemployment Rate 16 to 19 years 20 to 24 years 25 to 54 years 12.9% 55 to 61 years 4.5% 65 years and over 30.6% Which of the following groups 7.0% employment rate lower than the national average unemployment rate? Check all that apply. 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over Economists use labor market data to evaluate how well an economy is using its most valuable resource-its people, Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed), Indicate what happens to the unemployment rate and the employment population ratio in each of the following scenarios. Effect Onme Employment-Population Scenario Unemployment Rate An auto company goes bankrupt and lays off its workers, who immediately start Decreases looking for new jobs. Increases After a long search, some laid-off workers find new jobs. Numerous students graduate from college and immediately begin new jobs. Mays the same A stock market boom induces newly enriched 60 year old workers to take early retirement, Indicate which of the functions of money (a medium of exchange, a unit of account, and a store of valve) each of the following performs in the U.S. economy. Check all that apply Medium of Exchange Unit of Account Store of Value Plastic credit card Diamond Mexican paso U.S. dollar bill Diven your answers to the prewous task, indicate whether each of the following is considered money in the U.S. economy Money No Plastic credit card O Diamond O Mexican peso O O U.f. dollar bill