Question 1IncompleteanswerPoints out of#1) Suppose the following data describe a nation's population?10Year 1Year 2Remove flagPopulation300 million305 millionLabor Force150 million160 millionUnemployed7 million7.2 million(a) What is the unemployment rate in each year?Instructions: Round your answers to one decimal place.Year 1: 4.7percentYear 2: 4.5percent(b) How has the number of unemployed changed from Year 1 toYear 2?Increasedby 200,000workers(c) How is the apparent discrepancy between (a) and (b)explained?A larger labor force in Year 2Please answer all parts of the question.Next page?

The objective of the question is to calculate the unemployment rate for two different years,…

Answered: Question 1 Incomplete answer Points out…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Problem #1: Suppose the following data describe a nation's population: Year 1 Year 2 Population 320 million | 230 million Labor Force 150 million 160 million Unemployed | 6.5 million 6.9 million a. What is the unemployment rate each year? b. Has the economy experienced an increase or decrease in The number of unemployed persons? i. ii. The unemployment rate?
No hand written solution This table shows the 2013 data for males and females aged 15 and over in the country of Bolivar. Not in the Labour Force Unemployed Employed Male Female Male Female Male Female 45 million 35 million 5 million 5 million 85 million 65 million Refer to the Table 9-1. What is the adult population in Bolivar? a. 90 million b. 150 million c. 160 million d. 240 million
Assume the following data for a country: Number of People, Millions Category Total population Population under 16 years of age or institutionalized 500 120 Not in the labor force 140 Unemployed Part-time workers looking for full-time jobs 12 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent
part 2
Show how the unemployment rate in each month is calculated from the numbers of people.
Tabular presentation of GDP growth and Unemployment of UK and Jamaica:- Unemployment Rate(%) Growth Rate (%) Year Jamaica UK Jamaica UK 2016 13.19 4.81 1.5 1.7 2017 11.63 4.33 0.68 1.7 2018 9.1 4 1.83 1.3 2019 7.72 3.74 0.97 1.4 2020 8.4 4.34 -10.05 -9.8 (i) Compare the relationship between unemployment and Economic growth between then two countries.
My CPI numbers are way too big. I keep getting 500 and 400. What am I doing wrong? For year 2009 I added 2,000 for the hot dogs, plus 2,000 for the baseballs, plus 1,000 for the beer divided by 900 for the base year. And times 100.
(a) examine the data for Jamaica 2009 - 2018. What relationship (positive, Negative, none) do you OBSERVE between (i) economic growth (ii) economic growth and inflation (iii) unemployment and inflation over the period Jamaica data (year 2009 - 2018) 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 unemployment rate 11.36 12.37 12.70 13.93 15.25 13.74 13.51 13.19 11.63 9.10 inflation rate 9.59 12.61 7.56 6.89 9.34 8.27 3.69 2.35 4.38 3.74 Economic rate -4.35 -1.46 1.73 -0.61 0.52 0.69 0.92 1.38 1.00 1.89 (b). rank three economic variables from most important to least important. Provide one relevant reason to justify your selection for EACH of the three position (i.e. a reason why each variable is placed at the position 1, 2 and 3) Rank Variable justification 1 2 3 (c). "Many believe that the main objective of government economic policy should be to increase productivity and economic growth" Using the data above and economic knowledge,…
Question 2 Part (a) Refer to the table below for a very simple economy producing three goods: education, pizzas and cars. Steel panels are needed for car production, cheese is necessary for making pizzas and projectors are used for educational service. Product Steel panels Education Cars Cheese Pizzas Projectors Quantity 40 400 400 2500 2500 4000 2017 Price $5000 $1000 $10000 $1.50 $9.00 $2000 Quantity 50 450 500 3500 3500 5000 2022 Price $6000 $1100 $12000 $1.50 $12.00 $3000 What is the nominal GDP for the economy in 2022? What was the nominal GDP in 2017? What is the real GDP in 2022 using 2017 prices as base year prices? What is the overall real GDP growth rate between 2022 and 2017? Part (b) Assume for an economy, there are 11.5 million people employed, unemployment rate is 5.2%, labor force participation rate is 64%, number of defence force personnel
Table 1: Selected Economic Indicators for Trinidad and Tobago 2016 - 2020 Year Population GDP Inflation Unemployment % Money '000 (%) Supply - M2 (TT$Mn) 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 iii. 161,335.3 161,284.3 157,150.1 Source: CBTT, 2022; Percentage GDP Change Per Constant GDP -7.4 -0.2 -0.7 -2.7 149,208.6 -6.3 Capita (TT) 0.6 1.0 1.0 1.9 3.1 Question 1. a. Illustrate, with the aid of line graphs, the following: i. GDP and Years (2016 - 2020) ii. Inflation rate and Unemployment rate (2016 -2020) Economic growth for the period (2016-2020) 5.7 4.3 3.9 4.8 4.0 99229.8 89425.8 Repo Rate (end of period, %) 89475.2 5 3.5 88636.2 5 86754.6 4.75 4.75
(5
How many missing jobs (a FRED question): Suppose the U.S.unemployment rate int the most recent month had been10% instead of its actual value. How many fewer people would have been working (assuming the labor force remained the same)? *note: I found that the unemployment rate is 3.5%, and Labor force 62.3 from FRED. Please show work with the given numbers from FRED.

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