Suppose the labour force of an economy is equal to 1,000 and the unemployment on December 2010 is 0. Then, suppose that in January 2011 and every month that follows, 70 workers become unemployed for 1 month, 52 become unemployed for 2 months, 36 become unemployed for 3 months and 19 become unemployed for 9 months. decimal. a. At the steady state, what is the unemployment rate? Express your answer in percentage rounded to the nearest first b. Using the information from the previous question, what is the average duration in months at the steady state?

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