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Question 3 (7 marks) The table below shows economic information for a hypothetical economy with a flexible exchange rate. 2020 2021 CPI 100 105 Labour
Question 3 (7 marks)
The table below shows economic information for a hypothetical economy with a flexible
exchange rate.
| 2020 | 2021 | |
| CPI | 100 | 105 |
| Labour force ('000) | 62000 | 61850 |
| Full-time employed ('000) | 5640 | 6200 |
| Part-time employed ('000) | 45240 | 46935 |
| Net foreign debt ($ billion) | 900 | 1000 |
| Net foreign liabilities ($ billion) | 1050 | 1053 |
- With reference to the table, calculate the unemployment rate in 2020 and 2021. Show all working calculations. 3 marks
- In the table above, part of the population is part time employed. Explain the concept of underemployment
- What possible solutions can address underemployment in an economy?
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Labor and Employment Law Text and Cases
Authors: David Twomey
15th edition
978-1133188285
