Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Labour force data for Eturia (all in millions) are shown in the table below. Enter your responses below rounded to one decimal Population (millions) Working-age
Labour force data for Eturia (all in millions) are shown in the table below. Enter your responses below rounded to one decimal Population (millions) Working-age population Labour force Unemployed CPI (2002-100) 2018 26 2019 2020 28 30.15 18 22.0 16.0 7 8 7.5 0.6 0.73 0.8 102 109 121 a. What are the labour force participation rates in each year? The labour force participation rate for 2018 is b. What are the unemployment rates in each year? %, for 2019 is %, for 2020 is 96. %, for 2019 is %, for 2020 is | %. The unemployment rate for 2018 is | c. What are the annual inflation rates in the years 2019 and 2020? The annual inflation rate in the year 2019 is 6.86 % and for 2020 is d. What was the percentage increase in population in the years 2019 and 2020? % and in 2020 is 11 96. % The percentage increase in population in the year 2019 is e. If the population continues to increase at this rate, how long will it take for the population to double? It will take about years for the population to double. The average nominal incomes eamed in Eturia and the CPI are shown in the table below. Nominal income CPT (2002 100) a. Real income b. Percentage change of real income 2018 $23,000 2019 2820 $26,500 $29,000 107 109 111 $ 24.8 $ $ a. Calculate real income for each year. Enter your responses in the table above. Round your answers to the nearest dollar. b. By what percentage did real incomes rise in the years 2019 and 2020? Enter your responses rounded to one decimal place, in the table above
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started