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**Question 21: Labor Data for Uruguay** | Year | Adult Population | Number of Employed | Number of Unemployed | |------|-------------------|---------------------|-----------------------| | 2017 | 6,000 | 4,200 | 600 | | 2018 | 9,000 | 3,900 | 1,800 | | 2019 | 9,600 | 4,800 | 600 | **The labor force participation rate of Uruguay:** a. increased both from 2017 to 2018 and from 2018 to 2019. b. increased from 2017 to 2018 but decreased from 2018 to 2019. c. decreased from 2017 to 2018 but increased from 2018 to 2019. d. decreased both from 2017 to 2018 and from 2018 to 2019. **Correct Answer:** c - The labor force participation rate decreased from 2017 to 2018 but increased from 2018 to 2019. **Explanation:** The table presents data on Uruguay's labor market from 2017 to 2019. The number of employed individuals initially decreased from 4,200 in 2017 to 3,900 in 2018, indicating a drop in labor force participation. However, this number rose to 4,800 in 2019, showing an increase in participation during that period. The number of unemployed individuals showed a different pattern, doubling from 600 in 2017 to 1,800 in 2018, before dropping back to 600 in 2019. **Question 5** If the consumer price index was 110 in the base year and 121 in the following year, then the inflation rate was: a. 10 percent. b. 1 percent. c. -9.09 percent. d. 110 percent. - Selected answer: a --- **Question 6** The USA imports milk. If its price increases, it will show up: a. in the consumer price index and in the GDP deflator. b. in the consumer price index, but not in the GDP deflator. c. in the GDP deflator, but not in the consumer price index. d. in neither the consumer price index nor in the GDP deflator. - Selected answer: a

**Question 21: Labor Data for Uruguay** | Year | Adult Population | Number of Employed | Number of Unemployed | |------|-------------------|---------------------|-----------------------| | 2017 | 6,000 | 4,200 | 600 | | 2018 | 9,000 | 3,900 | 1,800 | | 2019 | 9,600 | 4,800 | 600 | **The labor force participation rate of Uruguay:** a. increased both from 2017 to 2018 and from 2018 to 2019. b. increased from 2017 to 2018 but decreased from 2018 to 2019. c. decreased from 2017 to 2018 but increased from 2018 to 2019. d. decreased both from 2017 to 2018 and from 2018 to 2019. **Correct Answer:** c - The labor force participation rate decreased from 2017 to 2018 but increased from 2018 to 2019. **Explanation:** The table presents data on Uruguay's labor market from 2017 to 2019. The number of employed individuals initially decreased from 4,200 in 2017 to 3,900 in 2018, indicating a drop in labor force participation. However, this number rose to 4,800 in 2019, showing an increase in participation during that period. The number of unemployed individuals showed a different pattern, doubling from 600 in 2017 to 1,800 in 2018, before dropping back to 600 in 2019. **Question 5** If the consumer price index was 110 in the base year and 121 in the following year, then the inflation rate was: a. 10 percent. b. 1 percent. c. -9.09 percent. d. 110 percent. - Selected answer: a --- **Question 6** The USA imports milk. If its price increases, it will show up: a. in the consumer price index and in the GDP deflator. b. in the consumer price index, but not in the GDP deflator. c. in the GDP deflator, but not in the consumer price index. d. in neither the consumer price index nor in the GDP deflator. - Selected answer: a

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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**Question 21: Labor Data for Uruguay** | Year | Adult Population | Number of Employed | Number of Unemployed | |------|-------------------|---------------------|-----------------------| | 2017 | 6,000 | 4,200 | 600 | | 2018 | 9,000 | 3,900 | 1,800 | | 2019 | 9,600 | 4,800 | 600 | **The labor force participation rate of Uruguay:** a. increased both from 2017 to 2018 and from 2018 to 2019. b. increased from 2017 to 2018 but decreased from 2018 to 2019. c. decreased from 2017 to 2018 but increased from 2018 to 2019. d. decreased both from 2017 to 2018 and from 2018 to 2019. **Correct Answer:** c - The labor force participation rate decreased from 2017 to 2018 but increased from 2018 to 2019. **Explanation:** The table presents data on Uruguay's labor market from 2017 to 2019. The number of employed individuals initially decreased from 4,200 in 2017 to 3,900 in 2018, indicating a drop in labor force participation. However, this number rose to 4,800 in 2019, showing an increase in participation during that period. The number of unemployed individuals showed a different pattern, doubling from 600 in 2017 to 1,800 in 2018, before dropping back to 600 in 2019.
Transcribed Image Text:**Question 21: Labor Data for Uruguay** | Year | Adult Population | Number of Employed | Number of Unemployed | |------|-------------------|---------------------|-----------------------| | 2017 | 6,000 | 4,200 | 600 | | 2018 | 9,000 | 3,900 | 1,800 | | 2019 | 9,600 | 4,800 | 600 | **The labor force participation rate of Uruguay:** a. increased both from 2017 to 2018 and from 2018 to 2019. b. increased from 2017 to 2018 but decreased from 2018 to 2019. c. decreased from 2017 to 2018 but increased from 2018 to 2019. d. decreased both from 2017 to 2018 and from 2018 to 2019. **Correct Answer:** c - The labor force participation rate decreased from 2017 to 2018 but increased from 2018 to 2019. **Explanation:** The table presents data on Uruguay's labor market from 2017 to 2019. The number of employed individuals initially decreased from 4,200 in 2017 to 3,900 in 2018, indicating a drop in labor force participation. However, this number rose to 4,800 in 2019, showing an increase in participation during that period. The number of unemployed individuals showed a different pattern, doubling from 600 in 2017 to 1,800 in 2018, before dropping back to 600 in 2019.
**Question 5** If the consumer price index was 110 in the base year and 121 in the following year, then the inflation rate was: a. 10 percent. b. 1 percent. c. -9.09 percent. d. 110 percent. - Selected answer: a --- **Question 6** The USA imports milk. If its price increases, it will show up: a. in the consumer price index and in the GDP deflator. b. in the consumer price index, but not in the GDP deflator. c. in the GDP deflator, but not in the consumer price index. d. in neither the consumer price index nor in the GDP deflator. - Selected answer: a
Transcribed Image Text:**Question 5** If the consumer price index was 110 in the base year and 121 in the following year, then the inflation rate was: a. 10 percent. b. 1 percent. c. -9.09 percent. d. 110 percent. - Selected answer: a --- **Question 6** The USA imports milk. If its price increases, it will show up: a. in the consumer price index and in the GDP deflator. b. in the consumer price index, but not in the GDP deflator. c. in the GDP deflator, but not in the consumer price index. d. in neither the consumer price index nor in the GDP deflator. - Selected answer: a
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