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Unformatted text preview: (f) RGDP in 2001 and 2002. [2] (g) The GDP deflator in 2001 and 2002. [2] 3. In this economy, people consume Apple (Q a ) and Organge (Q o ). The following table gives CPI basket and the prices in 2001 and 2002. 2001 is the base year . CPI basket (Q) P (2001) P(2002) Apple 10 $3 $4 Organge 5 $6 $8 . (a) Explain carefully what is CPI? [2] Calculate: (show your work explicitly) (b) CPI in 2001 and 2002. [2] (c) Inflation rate of CPI. [2] 4. From population survey of this economy in 2002, we find the following information. Labor force 10,000 Employment 9,000 Under 16 years of age 2,000 Working age population 12,000 Calculate (i) the labor force participation rate and (ii) the unemployment rate. (Show your calculation explicitly) [2] 5. From your answer in 2, 3, and 4, please use the shortrun AD and AS model to show p and Y of this economy. [2]...
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This note was uploaded on 09/08/2010 for the course ECON 102 at San Jose State University .
 '10
 Shieh,YeungNan
 Unemployment

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