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Table 3: Population, labour force, and employment data for Country L in May 2025 [table] Working age population | 39,500,000 Labour Force | 25,650,000 Employed people | 21,300,000 [/table][Fill in the blank] According to the data provided in Table 3, calculate the unemployment rate for Country L.[Fill in the blank] Compare and contrast frictional and structural unemployment.[Fill in the blank] Identify a negative consequence of high unemployment for the government.[Fill in the blank]

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Here is a detailed, step-by-step analysis of each fill-in option in the order they appear, drawing on the data and standard economic concepts. Option 1: The unemployment rate calculation given as 'The unemployment rate is calculated as ((Labour Force - Employed People) / Labour Force) × 100 = ((25,650,000 - 21,300,000) / 25,650,000) × 100 ≈ 16.96%.' - This option uses the correct unemployment rate formula: unemployment rate = (unemployed / labor force) × 100, and unemployment equals Labour Force minus Employed People. Substituting the numbers yields (4,350,000 / 25,650,000) × 100 ≈ 16.96%. The arithmetic is sound and the process aligns with standard national accounting practice fo......Login to view full explanation

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