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The table below shows economic information for a hypothetical economy with a flexible exchange rate. 2017 2018 CPI 100 115 Labour force ('000) 11000 11360
The table below shows economic information for a hypothetical economy with a flexible
exchange rate.
| 2017 | 2018 | |
| CPI | 100 | 115 |
| Labour force ('000) | 11000 | 11360 |
| Full-time employed ('000) | 7250 | 7920 |
| Part-time employed ('000) | 3200 | 3400 |
| Net foreign debt ($ billion) | 900 | 1000 |
| Net foreign liabilities ($ billion) | 1050 | 1053 |
- With reference to the table, calculate the unemployment rate in 2017 and 2018. Show all working.
- Explain 2 types of unemployment that we discussed in class.
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132857123
