Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2021, the Woodland Republic Bureau of Statistics publication indicated that theConsumer Price Index (CPI) of the country increased to 109.2 in 2021 from 106.5

In 2021, the Woodland Republic Bureau of Statistics publication indicated that theConsumer Price Index (CPI) of the country increased to 109.2 in 2021 from 106.5 in 2020.

Calculate Woodland Republic's inflation rate in 2021.

The Woodland Republic's Population Secretariat published the following information in 2021:

  • Total population: 30 million
  • Labor force: 80% of the total population
  • Employed population: 21.5 million

Use the information provided to answer the following questions:

Calculate the population that is excluded from the labor force in the Woodland Republic in 2021 and indicate at least four sectors that are excluded from the labor force.

Calculate the Woodland Republic's unemployment rate in 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Early Transcendentals

Authors: James Stewart

8th edition

978-1285741550

Students also viewed these Economics questions