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- 1. You are given the following information for a country: Participation rate = 75%, Unemployment rate = 10%, Employment rate = 67.5% and Number of employed = 27 million. Based on this information, calculate the following (in millions): (a) Working age population (b) Size of the labour force. (c) Number of unemployed peopleUsing the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hrs a week 234 Self-Employed 6543 Discouraged Workers 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work The current population is 6,000,000 5654 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalizeUse the below data to calculate:a. the labor force,b. the number of people not in the labor force,c. the labor force participation rate,d. the unemployment rate.Adult Population by GroupNumber employed = 144.4 millionNumber unemployed = 7.0 millionAdult population = 228.8 million
- Question 1: In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table. Calculate the nominal and real GDP of three years and then find the GDP deflator for all the three years. Find year on year (YoY) inflation for 2018 and 2019. Note: the base year for this economy is given as 2017. year Price of Car (AED) Number of Car Price of cycle (AED) Number of cycle 2017 1000 10 200 900 2018 1200 15 210 1000 2019 1500 25 250 1500 Question 2: Explain the role of fiscal and monetary policy in an economy facing a recession. Use appropriate graph to justify your answerUsing the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate. 987,156 Currently Working | 23,000 volunteer workers 9845 (ages 13-14) looking for work |12,000(ages 15) looking for work 45,600 Part-Time workers| 56 family workers who worked 15 hrs a week 234 Self-Employed |6543 Discouraged Workers 67,432 (ages 23-25) looking for work| 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work |Current population is 6,000,000 5654 Temp Workers |5000 armed forces 543 recent university graduates that are going back to graduate school |3500 institutionalized25. Which of the following is the formula for calculating the unemployment rate? a.(Number of unemployed people / Total population) x 100 b.(Number of unemployed people/ Total number of people in the labour force)x100 c.( Number of people in the labour force/ Total number of employed people) x 100 d.( Number of employed people /Total number of people in the labour force)x100
- 5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges. The following table shows the prices and quantities of the goods over a three-year period. Pencils Oranges Price Quantity Price Quantity Year (Dollars per pencil) (Number of pencils) (Dollars per orange) (Number of oranges) 2016 1. 110 2. 150 2017 2. 155 4 215 120 4 180 2018 Use the information from the preceding table to fill in the following table. Real GDP Nominal GDP GDP Deflator (Dollars) (Base year 2016, dollars) Year 3.Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The "official" unemployment rate. 987,156 Currently Working 9845 (ages 13-14) looking for work 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 544,321 (ages 16-20) looking for work 5654 Temp Workers 543 recent university gràduates that are going back to graduate school 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 67,890 laid off receptionists looking for work Current population is 6,000,000 5000 armed forces 3500 institutionalized(b) Using the following data calculate:(i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate. 987,156 Currently Working 23,000 volunteer workers9845 (ages 13-14) looking for work 12,000 (ages 15) looking forwork45,600 Part-Time workers 56 family workers who worked15 hrs a week234 Self-Employed 6543 Discouraged Workers67,432 (ages 23-25) looking for work 67,890 laid off receptionistslooking for work544,321 (ages 16-20) looking for work Current population is6,000,0005654 Temp Workers 5000 armed forces543 recent university graduates thatare going back to graduate school3500 institutionalized
- Refer to the macroeconomic data from the Philippine Statistics Authority provided below to answer the next two (2) questions: Year 2019 2020 2021 GDP in million Php (Current prices) 19,517,863 17,951,573 19,410,568 GDP in million Php (2018 prices) 19,382,751 17,537,843 18,538,053 CPI (2012-100) 120.2 123.3 128.8 2. What is the growth rate of the Philippine economy by 2021? a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%. The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%. c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%. d. None of the above.Refer to the macroeconomic data from the Philippine Statistics Authority provided below to answer the next two (2) questions: Year 2019 2020 2021 GDP in million Php (Current prices) 19,517,863 17,951,573 19,410,568 GDP in million Php (2018 prices) 19,382,751 17,537,843 18,538,053 CPI (2012-100) 120.2 123.3 128.8Help me please