Quiz2forEcon - 1) Depending upon how long the 200 that are...

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Unformatted text preview: 1) Depending upon how long the 200 that are over the age of 16 but not looking for employment would decide whether or not to include them. If they have been unemployed and are not looking for a job for a period longer than a month then they are not included in the equation. Which would be as followed: unemployment rate = unemployed / labor force(unemployed & gainfully employed) the 200 not looking for work would not be included in the equation) 80/ 500 = .16 This comunity would then have an unemployment rate of 16%. 2) Real= Nominal X (Base Year Index / Current Year Index) 12,000,000,000,000 X (100/102) = 11,760,000,000,000 and this is the Real GDP and the real GDP rose by 2%. 3) (198.3-190.7) / 190.7 = .0398 = .04 the inflation rate for that year was around 4% for the consumer price index. 4) The amount of the dollar can change from day to day and as it does the price of things such as goods and services reflects that. Pegs to the dollar is dangerous for countries to do and it doesn't work if the dollar appreciates over time. Pegs to the dollar is dangerous for countries to do and it doesn't work if the dollar appreciates over time....
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Quiz2forEcon - 1) Depending upon how long the 200 that are...

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