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.

Macroeconomics
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ISBN:9781337617390
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Chapter9: Classical Macro Economics And The Self Regulating Economy
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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

 

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