Working Age Population Employed Unemployed Discouraged Workers *all numbers are in millions 1999 100 65 5...
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Working Age Population Employed Unemployed Discouraged Workers *all numbers are in millions 1999 100 65 5 2 2000 110 70 10 3 2001 125 80 20 5 a) What is the unemployment rate from 1999 to 2001 in Nationland? (show work) (4) b) What do you observe as the three year trend in this economy? What could explain the changes in the unemployment rate? (4) c) What is the connection between GDP growth and unemployment? (3) d) What do you think is more important between keeping prices stable and keeping unemployment low? Give support for your opinion. (4) Working Age Population Employed Unemployed Discouraged Workers *all numbers are in millions 1999 100 65 5 2 2000 110 70 10 3 2001 125 80 20 5 a) What is the unemployment rate from 1999 to 2001 in Nationland? (show work) (4) b) What do you observe as the three year trend in this economy? What could explain the changes in the unemployment rate? (4) c) What is the connection between GDP growth and unemployment? (3) d) What do you think is more important between keeping prices stable and keeping unemployment low? Give support for your opinion. (4)
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a To calculate the unemployment rate we use the formula Unemployment Rate Number of Unemployed Labor Force 100 The labor force is the sum of the emplo... View the full answer
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