If the demand curve for a product shifts to the left and the supply curve for the product shifts to the left, the equilibrium quantity will decrease

Refer to the figure above. The labor market is currently at point E. Which of the following is likely to happen if a recession hits the economy assuming that wages are flexible?

A) The labor market equilibrium will move from E to H. B) The labor market equilibrium will move from E to D. C) The labor market equilibrium will move from E to F. D) The labor market equilibrium will move from E to G.

Suppose the economy is experiencing frictional unemployment of 1 percent, structural unemployment of 3 percent and cyclical unemployment of 4 percent. What is the natural unemployment rate?

A) 3 percent B) 4 percent C) 5 percent D) 7 percent