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.
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.
Chapter9: Classical Macro Economics And The Self Regulating Economy
Section: Chapter Questions
Problem 2WNG
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Question
The table below shows economic information for a hypothetical economy with a flexible
exchange rate.
|
2017 |
2018 |
|
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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