Asked by Mapely
1.Gross Domestic
Product
Explain the difference between nominal GDP and real GDP.
2.Unemployment Name and explain the three types of unemployment.
3.Inflation
Name and explain the two types of inflation.
Use the following information to answer the questions:
Total Population: 500
Population under 16 years of age or institutionalized: 120
Not in labor force: 150
Unemployed: 23
Part-time workers looking for full time jobs: 10
a)What is the size of the labor force?
b)What is the official unemployment rate?
Product
Explain the difference between nominal GDP and real GDP.
2.Unemployment Name and explain the three types of unemployment.
3.Inflation
Name and explain the two types of inflation.
Use the following information to answer the questions:
Total Population: 500
Population under 16 years of age or institutionalized: 120
Not in labor force: 150
Unemployed: 23
Part-time workers looking for full time jobs: 10
a)What is the size of the labor force?
b)What is the official unemployment rate?
Answers
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