(Solved): Consider the following labor statistics for adult population (age 16 and older) in Norway displayed ...

Consider the following labor statistics for adult population (age 16 and older) in Norway displayed in the table below (all numbers in millions). 1. Using data above, calculate unemployment rate for Norway. Hint 2. Supposed that 4 million workers become discouraged and give up looking for a job. Using data above, calculate the new unemployment rate taking into account the discouraged workers. Hint 3. What has happened to the unemployment rate as a result of people who have given up and stopped looking for a job? Decreases. Remains unchanged. Increases.