Question 29 of 39 Okun's law estimates that: % change in GDP = 3% – 2 • (% change in unemployment) If the unemployment rate increases by 2.8%, what does Okun's law predict? A. The GDP will decrease by 2.8%. B. The GDP will increase by 2.8%. C. The GDP will decrease by 2.6%. D. The GDP will increase by 2.6%.

Answer ex 15 a b and c and 16

Question 1: In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table. Calculate the nominal and real GDP of three years and then find the GDP deflator for all the three years. Find year on year (YoY) inflation for 2018 and 2019. Note: the base year for this economy is given as 2017.   year Price of Car              (AED) Number of Car Price of cycle (AED) Number of cycle 2017 1000 10 200 900 2018 1200 15 210 1000 2019 1500 25 250 1500       Question 2: Explain the role of fiscal and monetary policy in an economy facing a recession. Use appropriate graph to justify your answer

If the natural rate of unemployment is 3.9 percent, the current unemployment rate is 7.3 percent, and the current GDP is 10 billion, according to Okun's law, the economy's potential output is: (in billion dollars, rounded to two decimal points).

25. Which of the following is the formula for calculating the unemployment rate? a.(Number of unemployed people / Total population) x 100 b.(Number of unemployed people/ Total number of people in the labour force)x100 c.( Number of people in the labour force/ Total number of employed people) x 100 d.( Number of employed people /Total number of people in the labour force)x100

Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.

Okun's Law is defined as: Change in the unemployment rate = - x(g-2%) If the unemployment rate is 3.6% and real GDP grows by 0.5%, the new unemployment rate is %. (Round your response to one decimal place.) Enter your answer in the answer box and then click Check Answer.

of the people described below, who would be counted as unemployed? Choose one or more: A a 55-year-old steel worker who was laid off 18 months ago and has given up trying to find a job OB. a 17-year-old single parent who has just been laid off and is looking for a new job OC. a second lieutenant in the U.S. Army DD. a full-time college student who plans to look for a job after graduation OE. bin able-bodied 53-year-old who took an early retirement package from her employer OF. a newly graduated Ph.D. who could not find a teaching job and is driving a taxi DG. a student who quit college to look for a modeling job in New York

Ellen is downloading labor market data for the most recent month, but her connection is slow.  So far this is all she has been able to collect: Unemployment rate     6%     Participation rate      62.5%    Not in the labor force   63.5 million Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses rounded to one decimal place.Labor force:       millionWorking-age population:      millionNumber of employed workers:        millionNumber of unemployed workers:        million

Resume later Submil In an economy, the working-ago population is 200 million Of this total, 160 million workers are employed. 6 million workers are unemployed. 28 million workers are not available for work (homemakers, full-time students, etc.). 4 million workers are available for work but are discouraged and thus are not seeking work 2 million workers are available for work but are not currently seeking work due to transportation or childcare problems. The unemployment rate in this economy is %. (Round your answer to one decimal place.)