Answer part a to d of question 1 along with calcualtions: a) In a small town of 100 people, there are 8 children under 16, 8 retired people, 60 people with full-time jobs, 4 people with part-time jobs, 5 full-time students over 16, and 6 full-time homemakers. The remaining people did not have jobs, but wanted jobs. What is the unemployment rate in this town? b) In a small town of 100 people, there are 10 children under 16, 10 retired people, 60 people with full-time jobs, 3 people with part-time jobs, 3 full-time students over 16, and 4 full-time homemakers. The remaining people did not have jobs, but wanted them. What is the participation rate in this town? c) The CPI in 1931 equaled 0.15. The CPI in 1932 equaled 0.14. The rate of inflation between 1931 and 1932 was _____ percent. d) If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system, and banks have a desired reserve/deposit ratio of 0.10, then the banks will eventually make new loans totaling and the money supply will increase by ________.

Answer part a to d of question 1 along with calcualtions: a) In a small town of 100 people, there are 8 children under 16, 8 retired people, 60 people with full-time jobs, 4 people with part-time jobs, 5 full-time students over 16, and 6 full-time homemakers. The remaining people did not have jobs, but wanted jobs. What is the unemployment rate in this town? b) In a small town of 100 people, there are 10 children under 16, 10 retired people, 60 people with full-time jobs, 3 people with part-time jobs, 3 full-time students over 16, and 4 full-time homemakers. The remaining people did not have jobs, but wanted them. What is the participation rate in this town? c) The CPI in 1931 equaled 0.15. The CPI in 1932 equaled 0.14. The rate of inflation between 1931 and 1932 was _ percent. d) If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system, and banks have a desired reserve/deposit ratio of 0.10, then the banks will eventually make new loans totaling and the money supply will increase by ____.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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12) In a small town of 125 people there are 25 people under 16. Out of the remaining persons, there are 10 retired people, 63 people will full-time jobs, 5 people with part-time jobs, 2 full-time students, 4 full-time homemakers, and 16 people who do not have jobs, but want them. Only 12 of these latter 16 people without jobs had actively looked for a job in the preceding four weeks. In this town, the unemployment rate, (U3), is A) 17.0 B) 25.0 C) 15.0 D) 16.0 E) 12.0 %.
2.
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