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Question 3 (10 marks) Read the information below and answer the questions that follow: The following Information was extracted from the South African Reserve Bank

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Question 3 (10 marks) Read the information below and answer the questions that follow: The following Information was extracted from the South African Reserve Bank (SARB) reports for the years 2018, 2019 and 2020: R405.6 million R421.2 million 100 108 (Bage yet Nominal GDP (2018) Nominal GDP (2019) Consumer price index 2018 Consumer price index 2019 Population of 2020 Total population Above 65 and below 15 years Working age (15-64) Employed Do not want to or cannot work Unemployed Demotivated Searching 56 million 14 million 42 million 25 million 3 million 14 million 4 million 10 M. Calculate the inflation rate for 2019, (2) 3.2 3:3 Calculate the real gross domestic product (GDP) for 2019. (2) Caleulate the economic growth for 2020 the wall gross domestic product (GDP) 2020 397.8 million (2) calculate the narrow unemployment rate as a percentage (2) Calculate the broad unemployment rate, as a percentage. (2) 3.5

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