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Principles of Economics Name: Date: onomics To find the number of people in the labor force we need to add the ________________________ and the ___________________________. Answers: The number of people who are employed and the number of people who are unem . ber of people who are unemployed. To find the unemployment rate we need to divide the __________________ by the _______________________. Answers: Number of unemployed people the total labor force multplied by 100. ___ by the ultplied by 100. This misery index is found by adding the ______________________ and the __________________. Answers: Seasonally adjusted unmployment rate and the annual inflation rate. d the inflation rate. Compute the unemployment rate given the following information: 8 million unemployed and 117 m employed. Answer: Total labor force Unemployed Unemployment rate 125,000,000 8,000,000 6.4% ion unemployed and 117 million How much would the nominal interest rate be if the real interest rate were 6-percent and the expected rate of inflation were 7-percent? Answer: 6% e 6-percent and If the CPI is currently 178.9, by what percentage did prices rise since the base year? Answer: 0.789 78.9 If the rate of inflation is 5-percent, the prime rate of interest is 6-percent, and the unemployment rate is 7-percent, how much is the misery index? Answer: 5%+7% 12% and the If the CPI fell from 180 to 150, by what percentage did the price level fall? Answer: Percentage=change ...
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