ECON Lesson 5

ECON Lesson 5 - 0.625W = L W – 0.625W + 60,000,000 1 =...

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Ashlie Michelle Ferguson ECON 2010 Enrollment # 642885 Lesson 5 1. Nominal GDP: 2000: 100(5) + 300(20) +100(20) 8,500 2005: 125(7) + 250(20) + 110(25) 8,625 Real GDP: 2000: 8,500 2005: 125(5) + 250(20) +110(20) 7,825 2. L=Labor Force; W=Working Age Population; E= Number of Employed Workers; U=Number of Unemployed Workers 0.05 = U/L 0.625 = L/W W = L + 60,000,000
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Unformatted text preview: 0.625W = L W – 0.625W + 60,000,000 1 = 0.625 + (60,000,000 / W) 0.375W = 60,000,000 W = 160,000,000 160,000,000 = L + 60,000,000 L = 100,000,000 0.05 = U / 100,000,000 U = 5,000,000 100,000,000 = E + 5,000,000 E = 95,000,000 3. D 4. C 5. C 6. B 7. C 8. A 9. B 10. B 11. C 12. D 13. C 14. A 15. B 16. A 17. C...
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This note was uploaded on 05/11/2010 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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