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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Considering an economy with a total labour force of 151 million people, in which 144 million people are employed and 7 million people are searching for a job. Including the people who are young but have not yet entered into the labour market, the total adult population is 228.4 million people. The retirees are 2.7 million people.Find a). Unemployment rate b). Employment rate c). Participation rate
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