Chapter 23 Homework 8 Use the table below to answer Problem 8.1 and 8.2 Table 1: Count in Millions Description 2023 2024 Population 175 Working Age Pop 125 Non Working Age Pop 50 Non Labor Force Labor Force Employed Unemployed Frictional Structural Natural 75 35324 Problem 8.1 Using 2023 data, answer the following: (a) What is the total count of individuals in the labor force? (b) What is the total count of individuals in the non-labor force? (c) What is the employment rate? (d) What is the labor force participation rate? (e) What is the unemployment rate? (0) What is the natural rate of unemployment rate? (g) What is the cyclical unemployment rate? (b) Is the economy in a contractionary or expansionary state?

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