The table below shows economic information for a hypothetical economy with a flexibleexchange rate. 20172018CPI100115Labour force (’000)1100011360Full-time employed (’000)72507920Part-time employed (’000)32003400Net foreign debt ($ billion)9001000Net foreign liabilities ($ billion)10501053 With reference to the table, calculate the unemployment rate in 2017 and 2018. Show all working.

Here, the given table pro information about CPI, labor force, employed people, foreign debt and…

Answered: The table below shows economic…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table below shows economic information for a hypothetical economy with a flexible

exchange rate.

	2017	2018
CPI	100	115
Labour force (’000)	11000	11360
Full-time employed (’000)	7250	7920
Part-time employed (’000)	3200	3400
Net foreign debt ($ billion)	900	1000
Net foreign liabilities ($ billion)	1050	1053

With reference to the table, calculate the unemployment rate in 2017 and 2018. Show all working.

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