b. The inflation rate in 2019 is The average nominal incomes earned in Eturia and the CPI are shown in the table below. % 2018 2019 2020 c. The growth rate of real GDP per capita in the year 2020 is I Nominal income $26,700 $32,000 $34,000 CPI (2002 = 100) 105 107 111.5 Calculate real income for each year. Enter your responses in the table above. Round your answers 6. Suppose that the labour force is currently 5.5 million and the unemployment rate is 11%. On to the nearest dollar. August 1, government announces that it will create 45,000 new jobs to be filled over the next three months. Only people who were unemployed on August 1 will be hired. As a result, 100,000 people b. By what percentage did real incomes rise in the years 2019 and 2020? Enter your responses immediately apply for the jobs; half of these people had previously not been actively seeking work. rounded to one decimal place, in the table above. a. Has the labour force changed as a result of this announcement? The information in the table below is for the economy of Mensk. Round your responses below to one b. The unemployment rate after the announcement but before the jobs are filled will be decimal place. c. Once all the jobs are filled, the unemployment rate will be Working-age population 25.0 Number of people in full-time employment 12.0 Number of people in part-time employment Number of people unemployed Number of discouraged workers 20 a. What is the unemployment rate? b. What is the participation rate? 5. The table below shows national data for the economy of Westfall. Round your intermediate calculations to one decimal place. Enter your responses rounded to one decimal place with the exception of Real GDP per capita that can be entered as a whole number. a. Fill in the blanks in the table below. 2018 2019 2020 Nominal GDP (in billions) $750 $845 GDP deflator (2010 = 100) 123 Real GDP (in billions) $703 Population (in millions) 36 38 Real GDP per capita $19,000 $19,640