Question
2017 2018 P Q P Q good A $5 20 $6 32 good B $20 6 $25 16 From the Table above required: 1. Compute
| 2017 | 2018 | |||
|
| P | Q | P | Q |
| good A | $5 | 20 | $6 | 32 |
| good B | $20 | 6 | $25 | 16 |
From the Table above required:
1. Compute nominal GDP in 2017 and 2018?
2. Compute real GDP in each year using 2017 as the base year?
(7 Marks)
b) Suppose an economy consists of: 100,000 individuals 16 years and older. 61,000 employed. 4,000 unemployed.
1) Calculate Labor Force Participation Rate
2) Calculate the Unemployment Rate
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Essentials Of Applied Econometrics
Authors: Aaron D Smith, J Edward Taylor
1st Edition
0520288335, 9780520288331
