B in 1930 the cpi was 14 and a cook earned 20 a week

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b. In 1930, the CPI was 14 and a cook earned $20 a week.
c. In 1940, the CPI was 16 and a gallon of gas cost $0.20.
3) The table below uses data for three hypothetical countries. All the number values are in thousands.a. Complete the following table:CountryAdultPopulationLaborForceEmployedUnemployedUnemploymentRateLabor-ForceParticipationRateA120,00064,50060,0004,5006.9853.8B46,66728,00025,0003,00010.7160C70,00040,00036,0004,0001057.14High rate of unemployment in an economy negatively affects individuals, their families, and a nationas a whole since labor force is a very important productive resource. Based on this backgroundinformationand the table you completed under “3a”, answer the following questions.b. How does the government officially measure employment and unemployment in the economy?Why is it usually stated that the official unemployment rate likely underestimates the actuallevel of unemployment in the economy?c.Based on the table under “3a”, describe the relationship between employment and economicwell-being in the economy for each country. What are the impacts of labor force utilization andhigh unemployment rate on thenational economy of country A, B, and C?4)The following table indicates U.S. real GDP data to answer the following questions.YearReal GDP (2000prices) (in millions)Population(in millions)1987$6,435,0002432005$11,092,000296.6a. What is the Real GDP per person in 1987?
b. What is the Real GDP per person in 2005?Page 3 of 3
[204] Unit 5 Assignment Template
d. What is the percent change in Real GDP per person between 1987 and 2005?
5) Now that you have segmented the components of macroeconomic aggregates, explain theirimplications on the national economy. Provide examples based on your answers above and explainhow CPI affects consumers, how CPI affects price, the effects of employment and unemployment onthe U.S. economy, and how the changes in living standards could affect employees and the nationaleconomy.Page 4 of 3
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