GCC Unemployment Rates and Inflation Worksheet
Description
You hear on the news that the CPI went from 300 to 310, in one year what is the rate of inflation? Is this a high or low annual inflation rate? Please show your work 2. What would you tell a friend who reports the following 2010 2020Nominal pay. $20/hour $25/hourCPI 100 2003. If you find data for a country as follows, what is the official unemployment rate? How does this compare with the current US unemployment rate? Please show your calculation.Institutionalized population 2,000,000; Homemakers 20,000,000 Actively seeking a job 6,000,000; Working part time 20,000,000; Working full time 34,000,000; Students 3,000,000; Retired 2,000,0004. A commentator on TV says that the official unemployment rate doesnt fully measure all those who are unemployed? Is she correct? Why?5. If a country has an unemployment rate of 4% and inflation at 8%, how is that country doing? Why?6. Describe a time in US history when cyclical unemployment was very low. Estimate how high or low it was, explaining your estimate.
Tags:
Unemployment
Inflation
rates
consumer price index
high rate
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