d. Identify and explain the most likely type of unemployment that resulted in anincrease in the unemployment rate in 2020.e. Using the most relevant macroeconomic variable(s) in the table, identify the CentralBank response to address macroeconomic issues in 2020.f. Using the data in the table analyse the effectiveness of Central Bank's policy inaddressing aggregate demand.g. Determine with the aid of diagram(s) the intended macroeconomic impact of themonetary policy measure employed by the Central Bank on national income. Table 1: Selected Economic Indicators for Trinidad and Tobago 2016 - 2020Year Population GDPInflation Unemployment %Money'000(%)Supply -M2(TTSMn)2020 1,366.72019 1,364.02018 1,359.22017 1,356.62016 1,353.9CurrentPrices (TT$Mn)144,422.1161,284.3Percentage GDPPer157,150.1ChangeConstantGDP161,335.3 -0.2-7.4-0.7-2.7149,208.6 -6.3Capita(TT)0.61.01.01.93.15.74.33.94.84.099229.889475.289425.886754.688636.2RepoRate(end ofperiod,%)3.5554.754.75

Answered: d. Identify and explain the most likely…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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d. Identify and explain the most likely type of unemployment that resulted in an
increase in the unemployment rate in 2020.
e. Using the most relevant macroeconomic variable(s) in the table, identify the Central
Bank response to address macroeconomic issues in 2020.
f. Using the data in the table analyse the effectiveness of Central Bank's policy in
addressing aggregate demand.
g. Determine with the aid of diagram(s) the intended macroeconomic impact of the
monetary policy measure employed by the Central Bank on national income.

Table 1: Selected Economic Indicators for Trinidad and Tobago 2016 - 2020
Year Population GDP
Inflation Unemployment %
Money
'000
(%)
Supply -
M2
(TTSMn)
2020 1,366.7
2019 1,364.0
2018 1,359.2
2017 1,356.6
2016 1,353.9
Current
Prices (TT$
Mn)
144,422.1
161,284.3
Percentage GDP
Per
157,150.1
Change
Constant
GDP
161,335.3 -0.2
-7.4
-0.7
-2.7
149,208.6 -6.3
Capita
(TT)
0.6
1.0
1.0
1.9
3.1
5.7
4.3
3.9
4.8
4.0
99229.8
89475.2
89425.8
86754.6
88636.2
Repo
Rate
(end of
period,
%)
3.5
5
5
4.75
4.75

Expert Solution

Step 1 INTRODUCTION

Unemployment

Once someone actively seeks a job but is unable to do so, this is referred to as being unemployed. One important indicator of the state of the economy is unemployment. The unemployment rate is the most often used indicator of unemployment. It is computed by dividing the total labor force by the number of jobless people. Numerous governments provide unemployment insurance to certain unemployed people who meet the criteria.

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