assignment #2

# assignment #2 - Yujie Li 880569410 Assignment #2 1....

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Yujie Li 880569410 Assignment #2 1. Calculate the labor force, unemployment rate, and the labor force participation rate from the following data: Population = 198 million people, Under 16 = 38 million, Not in labor force = 23 million and looking for work = 9 million A: labor force: 198 million – 38 million – 23 million = 137 million Umemployment rate: (9million/137million) x 100 = 6.57% LFPR: [137 million/(198 million – 38 million)] x 100 = 85.6% 2. Calculate Gross Domestic Product, Net Domestic Product, National Income, Personal Income, and disposable income from the following data: consumption expenditures = \$4,300million government expenditures = \$1,450 million personal income taxes = \$489million investment expenditures = \$1,235 million property taxes = \$387 million sales taxes = \$4189 million, export expenditures = \$380million Depreciations = \$485 million payroll taxes = \$89 million indirect business taxes = \$59 million import expenditures = \$430 million net income made abroad by Amecricans = \$19 million

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## This note was uploaded on 02/24/2009 for the course ECON 1 taught by Professor Macroeconomics during the Summer '08 term at Mt. SAC.

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assignment #2 - Yujie Li 880569410 Assignment #2 1....

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