Type your answer to each question directly below the question. Your responses should be in complete sentences and in your own words. Provide a reference list at the bottom of the page for any sources used, including your textbook. 1. Provide examples of each unemployment type and then describe how the unemployment rate is calculated. Please include the formal definition of unemployment as part of your answer. (10 points) 2. Why is the labor force participation rate important to an economy? How has the labor force participation rate changed over time in the US? What are some major economic and demographic trends that have affected it? (8 points) 3. What are the two types of inflation? How would a very low unemployment rate affect the inflation rate? (5 points) 4. Define the term misery index. Identify the current misery index for the United States and one other country. What do these numbers tell you with respect to what is happening in the two countries? What effect does a falling or rising misery index have on elected officials? (7 points)