(c) The GDP deflator is a price index that does not have a base period. Evaluate the reliability of estimating inflation from a price index that does not have a base period. (d) Using the following data on the US, calculate the size of the labor force, unemployment rate, and labor force participation rate for 2009 and 2018. Show your calculations and round off your answers to one decimal place. Number of individuals (millions) 2009 2018 Working-age population 236 258 Unemployed 14.3 6.3 I Employed 140 156

(c) The GDP deflator is a price index that does not have a base period. Evaluate the reliability of estimating inflation from a price index that does not have a base period. (d) Using the following data on the US, calculate the size of the labor force, unemployment rate, and labor force participation rate for 2009 and 2018. Show your calculations and round off your answers to one decimal place. Number of individuals (millions) 2009 2018 Working-age population 236 258 Unemployed 14.3 6.3 I Employed 140 156

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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