Using the following information about the labor force of the economy to answer the following questions
1, 500,000 college graduates decide to go to graduate school instead of looking for wor
100,000 out of work Santa Clauses in the summer
200,000 accountants lost their jobs because of no computerr skills
500,000 new college graduates looking for work
1,200,000 are employed
1. How many people can be catagorized as frictionally unemployed?
2. How many people can be categorized as structurally unemployed?
3. How many people can be catagorized as cyclically (or seasonally) unemployed?
4. How many people are in the labor force?
5. How many people are not in the labor force?
6. What is the unemployment rate?
7. What is the natural rate of unemployment?