Answered: Q.1. In a country with a population of…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter24: The Influence Of Monetary And Fiscal Policy On Aggregate Demand

Section: Chapter Questions

Problem 1CQQ

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Hi there . can you please assist on the folloiwng question below

Q.1. In a country with a population of 75 million people there are 19 million children under the age of 15 years, 47 million employed, 8 million unemployed and 1 million full time students. Calculate the unemployment rate.

Q..2. Explain, with the aid of a graph, the effect of an interest rate decrease on the money market equilibrium

Definition Video Formula Definition Phenomenon in which market supply and demand balance each other. Market equilibrium is the economic state in which the market demand curve intersects the market supply curve, giving us the equilibrium price and equilibrium quantity for which a commodity can be sold and purchased in an economy. When market equilibrium is achieved, it suggests that all resources have been allocated efficiently and that there is just a distribution of income and resources in the economy. Video Formula

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