Question 1If the unemployment rate is 10%, while the number of employed individuals is 900, what is the labor force?A. 810.B. 900C. 990D. 1000Question 2When an economy experiences INFLATION, which of the following measures of the GDP grows at a faster rate?A. Nominal GDPB. Real GDPC. None of the above, as both, Nominal and Real GDP measures expand at the same rate.Question 3Consider the following ecnomy:Total Population = 1000Total Adult Civilian (non-institutionalized) Population = 700Number of people employed = 200Number of people without jobs but looking for work = 80What is the labor force participation rate in this economy?A. 28%B. 40%C. 70%D. None of the aboveQuestion 4A Japanese firm manufactures cars in the US. Assume that each car sells for $20,000 to a consumer in the US. Alsoassume that from the sale of each car the Japanese manufacturer earns $2000 in profits and remits those to the holdingcompany in Japan. Assume that the car is manufactured with US made parts only.What is the contribution of each car to the GDP of JAPAN?A. 20,000B. 18,000C. 2,000D. ZeroQuestion 5If we assume that a 1 year CD account pays about 1% interest and inflation is expected to be about 3% over the course ofnext year, what will the expected real rate of return on the CD account be?A. Positive 2%B. Negative 2%C. Positive 1%D. Negative 4%E. None of the above

Labor force is the sum of employed people and unemployed people. Labor force participation rate is…

Answered: If the unemployment rate is 10%, while…

If the unemployment rate is 10%, while the number of employed individuals is 900, what is the labor force? A. 810 B. 900 C. 990 D. 1000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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