Jack is an out-of-work sculptor. He has been looking for a job for the last two years. Unable to find any, he has given up his job search. Which of the following is true in this case?
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This is an example of frictional unemployment.
He is a discouraged worker and will not be included in the calculation of the unemployment rate.
This is an example of structural unemployment.
He is a part of the unemployed labor force.