Consider the Data in Table 7

question 30

Essay

Consider the data in Table 7.3. What is the natural rate of unemployment in each of these years? Explain your answer.
Table 7.3
$$\begin{array} { c c c c } \hline & \begin{array} { c } \text { Separation } \\\text { rate }\end{array} & \begin{array} { c } \text { Finding } \\\text { rate }\end{array} & \begin{array} { c } \text { Labor } \\\text { force } \\\text { (mil) }\end{array} \\\hline 2015 & 2 \% & 20 \% & 130 \\2016 & 2.5 \% & 15 \% & 100 \\\hline\end{array}$$

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Definitions:

Enzymes

Biological catalysts that speed up chemical reactions in cells without being consumed in the process.

Enthalpy

Enthalpy is a measurement of the total heat content of a system, reflecting the energy needed to create a system and the energy needed to make room for it by displacing its environment.

Entropy

A measure of the disorder or randomness in a system, often associated with the second law of thermodynamics.

Free Energy

A thermodynamic quantity representing the amount of energy in a system that is available to do work.