2 quick economic questions, $7 to the quickest and correct answers

User Generated

zrt94

Economics

Description

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.)

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Anonymous
I was having a hard time with this subject, and this was a great help.

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