QUESTION 19 2013 014 2015 4,000 Number of employed The labor force participation
ID: 1162011 • Letter: Q
Question
QUESTION 19 2013 014 2015 4,000 Number of employed The labor force participation rate of this economy in 2015 was (Note: Round to the nearest tenth.) a. 87.5% D. 90.3% C. 93.3 d. 93.5% QUESTION 20 Price of Pizza tity of Pizza Quantity of Soda 280 300 300 Price of Soda $1.00 015 S3.00 2016 S3.00 2017 S4.00 2018 S5.00 1.50 250 280 $2.50 Consider an economy that only produces pizza and soda. Assume the base year is 2015. In 2017, this economy's a real GDP was $1050, and the GDP deflator was 152.4 D. real GDP was $1050, and the GDP deflator was 1 17.6. C. real GDP was $1360, and the GDP deflator was 152.4 d real GDP was $1360, and the GDP deflator was 117.6.Explanation / Answer
19.
labor force participation rate in 2015
=labor force/adult population
=(employed+unemployed)/adult population
=(5600+200)/6200
=93.5%
20.
2017 real GDP=2015 prices*2017 quantity
=3*250+1*300
=1050
GDP deflator 2017=nominal GDP/real GDP*100
=((4*250+2*300)/1050)*100
=152.4
answer is a option as per the calculations above
The above should be answer..