The figure belaw shows data points for real GDP growth and the change in the unemployment rate for 24 different years in Brazil. Brazil (1990–2013) 6. y=-0.1183x + 0.4161 R 0.2247 2009 -2 -6 -1 0 4 6. Real GDP growth (%) Based on the figure, which of the following statements is true? O The unemployment rate increased in all the years that real GDP growth wan negative. O Okun's Law appears to be true In Brazil. The largest decrecase in the unemployment rate way during 2009 The equation for the line of best ht predicts that unemployment won't change when real GDP growthH ON Change in unemployment rate (%)

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Suppose the following data describe a nation's population: Year 1 Year 2 Population 320 million 330 million Labor force 150 million 160 million Unemployment rate 6 percent 6 percent Instructions: Round your responses to one decimal place. a. How many people are unemployed in each year? Year 1: million Year 2: million b. How many people are employed in each year? Year 1: million Year 2: million

Using the economic data below, Which statement is true? Year GDP in Billions GDP Growth Rate Unemployment 5,839 2 5,987 2.5 3. 5,870 -2 6,136 4.3 Year 2 would be described as a Contraction & a Trough O Year 2 would be described as an Expansion only O Year 2 would be described as an Expansion & a Peak Year 2 would be described as a Contraction only

The following information is given for an economy:   Labor Force of an Economy                                                                                                 Number of People (millions) Total population                                                                                      46.5 Children under the age of 16                                                                    8.5 Retirees                                                                                                    7.8 Employed                                                                                                23.9 Unemployed                                                                                              2.5 Not actively seeking employment                                                             3.0 Homemakers                                                                                            0.8   Instructions: Round your answers to one decimal place.…

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5 Question This question is supposed to familiarize you with the calculation of growth over multiple periods. In the lectures you learned that the growth rate of a variable from one period to the next is given by Yt - Yt-1 9y= Yt-1 where g, denotes the growth rate, y, the value of the variable y in period t, and yt-1 the value of the same variable in period t- 1. Very often we are dealing with growth over many periods, say 50 years, in which case the above formula is not helpful. In that case we use the following formula: Yt = Yo (1+9y), where yo is the value of the variable at the beginning of the period, y, is the value of the variable after t periods, and g, is the (constant) growth rate. Depending on what information is given, you can solve the formula for either yt, Yo, gy, or for t. Now turn to the actual problem: The poorest countries in the world currently have an annual per capita income of about $600. We can reasonably assume that it is nearly impossible to live on an income…

Assume an economy has a population of working age of 83 million and unemployment rate is 4%. Further, the average productivity of labour is 80,000 and the average mark-up in the economy (µ) is 5%. The wage-setting curve for this economy is given by real wage = 55,000 + 25, 000X, with X representing the employment rate. The labour market is in equilibrium. (a) Calculate the equilibrium real wage of the economy. (b) Calculate the employment rate of the economy. Calculate the number of employed workers in the economy. (d) s) Calculate the participation rate of the economy.

If the total population of a country is 300 million, the unemployment rate is 5% and theparticipation rate is 65%, the working age population is:O 105.0 millionO 195.0 millionO 285.0 millio

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