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I need both questions answer, within 2 hours preferably, correct. If they end up incorrect, I will not be able to award the money. These are homework questions, I only have so many attempts to complete them. Thanks for understanding.
1) The labor force participation rate
is the percentage of the working-age population in the labor force.
Suppose an economy is given by:
Population = 270 million
Working-age population = 131 million
Labor force = 84 million
The number of people employed = 77 million
The number of people unemployed = 77 million
Question 1: The labor force participation rate for this economy is ____ %
(Enter your response rounded to one decimal place.)
2) Suppose the economy's consumer price index (CPI) in 2008 was 185 and the CPI in 2009 was 199.
Question 2: The inflation rate over the period from 2008-2009 was equal to ____ %.
(Enter your response rounded to one decimal place.)Explanation & Answer
Please...
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