microeconomics Test: ECON 102 / Test 1Time Remaining: 02:22:23Submit TestThis Question: 3 pts3 of 41 (2 complete)This Test: 60 pts possibleHow do we calculate the inflation rate and what is its relationship with the CPI?The inflation rate is calculated asO A. [(CPI this year - CPI in the base year) = CPI in the base year] x 100O B. [(CPI this year - CPI last year) - CPI last year]x 100OC. [(CPI this year - CPI last year) - CPI this year]×100O D. [(CPI in the base year - CPI last year) - CPI this year] x 100When the CPIO A. rises slowly, the inflation rate is negativeO B. rises slowly, the inflation rate is lowO C. is constant, the inflation rate is negativeO D. falls, the inflation rate is positive and lowThe CPI in 2008 was 210.2. The CPI in 2009 was 215.9.The inflation rate in 2009 was 2.96|| percent.>>> Answer to 1 decimal place.>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.Click to select your answer(s).(? Test: ECON 102 / Test 1Time Remaining: 01:55:07Submit TestThis Question: 3 pts9 of 41 (8 complete)This Test: 60 pts possibleThe table shows the data reported by the Bureau of Labor Statistics in 2009.Labor Market DataCalculate the labor force, employment, and the unemployment rate.Labor force participation rate65.4 percentThe labor force is 15434.4 million.Working-age population236 million>>> Answer with a whole number.Employment-to-population ratio59.3 percentEmployment is 13994.8 million.>>> Answer with a whole number.The unemployment rate is 9.32 percent.>>> Answer to 1 decimal place.

1. The formula for inflation rate is, Inflation = CPI (Current Year)-CPI(Previous Year)CPI(Previous…

Test: ECON 102 / Test 1 Time Remaining: 01:55:07 Submit Te This Question: 3 pts 9 of 41 (8 complete) v This Test: 60 pts possi The table shows the data reported by the Bureau of Labor Statistics in 2009. Labor Market Data Calculate the labor force, employment, and the unemployment rate. Labor force participation rate 65.4 percent The labor force is 15434.4 million. >>> Answer with a whole number. Working-age population 236 million Employment-to-population ratio 59.3 percent Employment is 13994.8 million. >>> Answer with a whole number. The unemployment rate is 9.32 percent. >> Answer to 1 decimal place.

Test: ECON 102 / Test 1 Time Remaining: 01:55:07 Submit Te This Question: 3 pts 9 of 41 (8 complete) v This Test: 60 pts possi The table shows the data reported by the Bureau of Labor Statistics in 2009. Labor Market Data Calculate the labor force, employment, and the unemployment rate. Labor force participation rate 65.4 percent The labor force is 15434.4 million. >>> Answer with a whole number. Working-age population 236 million Employment-to-population ratio 59.3 percent Employment is 13994.8 million. >>> Answer with a whole number. The unemployment rate is 9.32 percent. >> Answer to 1 decimal place.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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