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Friday, October 29, 2010

ECO403 Assignment No. 1 Solution

 Solution 1

Nominal GDP
Real GDP
GDP reflector
Inflation rate
92575
92575
100
---
94115
82355
114.3
14.3%
145800
112450
129.7
15.4%








Formulas


For calculation nominal gdp Multiply Ps & Qs from same year llike 200*140+315*205=92575

Etc etc

Asy he bqi b calculate krni ha

Or real gdp me prices 1st wali use hongi or quantities sub ki baribari lagai jaengy

Llike 200*14+315*205=92575
200*70+315*217=82355

200*200+315*230=112450

GDP Deflator = Nominal GDP /Real GDP *100


Or inflation rate 1st --, or 2nd 114.3-100=14.3%
3rd 129.7-114.3=15.4%


Solution 2

labor force = employment * unemployment
= 164.5+8= 172.5 million

number of people not in labor force= not employed= 8 million

Labor-Force Participation Rate = Labor Force/Adult Population x 100
=172.5/329.8*100 = 52.30 million

Unemployment Rate = Number of Unemployed /Labor Force*100
=8 /17505*100= 4.64 million

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