4. (Similar to Chapter 12, Problem 47A) Assume that the following table represents the economy of the country of Colman. Given a labour force that remained a constant 150 million, calculate the unemployment and inflation rates for each of the years 2015 – 2020. Year Price Index Inflation Unemployment Unemployment Rate (%) (in millions) Rate (%) 2015 100 2016 105 16 2017 108.5 17.75 2018 114.2 12 2019 123.4 9.6 2020 139.6 6.4

4. (Similar to Chapter 12, Problem 47A) Assume that the following table represents the economy of the country of Colman. Given a labour force that remained a constant 150 million, calculate the unemployment and inflation rates for each of the years 2015 – 2020. Year Price Index Inflation Unemployment Unemployment Rate (%) (in millions) Rate (%) 2015 100 2016 105 16 2017 108.5 17.75 2018 114.2 12 2019 123.4 9.6 2020 139.6 6.4

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...

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