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Hi there. I'm having trouble to solve this macroeconomics question. Please help me in this. Humbly requesting pls help. Question 2 (a) The following table

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Hi there. I'm having trouble to solve this macroeconomics question. Please help me in this. Humbly requesting pls help.

image text in transcribed
Question 2 (a) The following table illustrates the production of various goods in Country A and their prices in selected years. Goods Output in Year Output in Year Output in Year 2018 2019 2020 Carrots 64 kg 60 kg 50 kg Carrot cake 260 cakes 250 cakes 175 packets Goods Price in Year Price in Year Price in Year 2018 2019 2020 (Base Year) Carrots $2.00/kg $3.50/kg $2.75/kg Carrot cake $80/cake $98/cake $85/cake Note: Half of the carrots was used to bake carrot cake in each year and the remaining half was purchased by the households in the country. All carrot cakes are purchased by the households in the country. (i) Calculate the real GDP in Year 2018, 2019 and 2020. (6 marks) (ii) Which year has the weakest economic growth rate? Support your answer with calculations and leave your answers in TWO (2) decimal points. (5 marks) (ii) With reference to your answer in part (ii), suggest TWO (2) possible causes to the weak growth rate. (2 marks) (b) The following tables show the labour force data for both men and women in Country B during the Covid-19 pandemic. Men Women Employed 3,500 Employed 1,000 Non-labor force 800 Non-labor force 2,000 Working age 5,000 Working age 4,700 population population (i) Calculate the unemployment rate for both men and women. Leave your answers in TWO (2) decimal points. (4 marks) (ii) Briefly describe TWO (2) consequences that may arise from the results that you calculated in part (i). (3 marks) (Total: 20 marks)

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