Homework Answers
a.
|
Year |
Real GDP |
Nominal GDP |
GDP deflator |
Economic Growth rate |
|
2000 |
54000 |
57500 |
||
|
2001 |
60000 |
60000 |
100 |
11.11 |
|
2002 |
63750 |
65662.5 |
103 |
6.25 |
Real GDP= Nominal GDP/GDP deflator
b.
1. Unemployment rate = Unemployed/labor force
Unemployment rate = (58500/(1116500+58500))*100 = 4.98 percent
2.
Employment rate = Employed/labor force
Employment rate = (1116500/(1116500+58500))*100 = 95.02 percent
3. LFPR = Labor force/Total population = (1175000/2000000)*100 = 58.75 percent
Civilian non institutionalised population = Employed = total population – (children + retirees + Unemployed) = 2000000 -(500000+325000+58500) = 1116500
Civilian labor force = Employed + Unemployed = 1116500+58500=1175000
c.
|
Year |
Market value of the basket |
CPI |
Inflation rate |
|
2001 |
24000 |
||
|
2002 |
25000 |
100 |
|
|
2003 |
25625 |
102.5 |
2.5 |
|
2004 |
26790.94 |
104.55 |
2.00 |
Market value of the basket = (previous year basket value*CPI/100)
Inflation rate = ((CPI2-CPI1)/CPI1)*100
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can someone help me eith this asap? have a test and hust got
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Assume that after trading begins, one Q2(ch8). Suppose that the economy in Dreamland produces only three goods, as shown in this table: Tennis Racquets $40 30 $50 50 Gatorade $1.5 Tenniş Ball $2 Prices in 2009 Quantity in 2009 Prices in 2010 Quantity in 2010 a. Assuming that the base year is 2009, compute nominal GDP and real GDP in 2009 and in 2010...
Hello, please Answer the questions below. Please write
clear or type the solution. Thank you
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