The Bureau of Labor Statistics reported that in June 2000
The Bureau of Labor Statistics reported that in June 2000 the
labor force was 143.8 million, employment was 137.8 million, and the working-age population was 212.7 million.
Calculate the unemployment rate and the labor force participation rate for that month
The GDP price index in the United States in 2002 was about 92 and real GDP in 2002 was $11.4 trillion (2005 dollars).
The GDP price index in the United States in 2010 was about 108 and real GDP in 2010 was $13.1trillion (2005 dollars)
Calculate nominal GDP in 2002 and in 2010 and the percentage increase in nominal GDP between 2002 and 2010
.
A Consumer Expenditure Survey in Sparta shows that people buy only juice and cloth. In 2012, the year of the Consumer Expenditure Survey and also the reference base year, the average household spent $27on juice and $18 on cloth. The price of juice in 2012 was $3 a bottle, and the price of cloth was $6 a yard. In 2014, juice is $6 a bottle and cloth is $3 a yard. Calculate the CPI in 2014 and the inflation rate between 2012 and 2014.
The table gives information about a nation’s labor force.
What is the labor force participation rate?
Labor Market Data
Working age population 217.6 million
Employed 136.5 million
Unemployed 8.4 million
Sally worked hard all year and put her savings into a mutual fund that paid a nominal interest rate of 4 percent a year. During the year, the CPI increased from 185 to 190 What was the real interest rate that Sally earned?
The table gives information reported by the Bureau of Labor Statistics for May 2006.
What is the unemployment rate? What is the labor force participation rate?
Item
Labor force
150,696,000
Employment
144,041,000
Working-age population
228,428,000
The nominal interest rate is 6 percent a year and the real interest rate is 4 percent a year.
What is the inflation rate percent a year ?
The people on Coral Island buy only juice and cloth. The CPI basket contains the quantities bought in 2010. The average household spent $40 on juice and $54
on cloth in 2010 when the price of juice was $2 a bottle and the price of cloth was $6 a yard. In the current year, 2011, juice is $8 a bottle and cloth is $6 a yard.
Calculate the CPI and the inflation rate in 2011.
A Consumer Expenditure Survey in the city of Firestorm shows that people buy only firecrackers and bandages. A Consumer Expenditure Survey in 2011 shows that the average household spent $189 on firecrackers and $16 on bandages. In 2011, the reference base year, the price of a firecracker was $3 and the price of bandages was $2 a pack. In the current year, 2012, firecrackers are $8 each and bandages are $4 a pack. Calculate the CPI market basket and the percentage of a household’s budget spent on firecrackers in the base year.
In 2007Annie, an 80-year-old, is telling her granddaughter Mary about the good old days. Annie says that in 1937 you could buy a nice house for $17,000
and a jacket for $6 Mary says that today such a house costs $275,000
and such a jacket costs $55
The CPI in 1937 was 14.4 and in 2007 it was 207.3
.
Which house has the lower cost: the $17,000 house in 1937 or the $275,000 house in 2007?
Which jacket has the lower cost: the $6 jacket in 1937 or the $55 jacket in 2007 ?
The Bureau of Labor Statistics reported that in
February 2009, the labor force in Michigan was 4,858 thousand and employment was
4,274 thousand. Calculate the unemployment rate in Michigan in February 2009.
In the United States in 2002 the GDP deflator was 104 and nominal GDP was $ 10,451 billion What is the value of real GDP in 2002?
The table gives information reported by the Bureau of Labor Statistics for
February 2012 What is the labor force participation rate?
Item Millions
Employment 142
Unemployment 13
Not in the labor force 87
The table shows the CPI in Canada Calculate Canada’s inflation rates in 2010 and 2011
Did the price level rise or fall in 2011Did the inflation rate increase or decrease in 2011
Year CPI
2009 112
2010 114
2011 117
Canada’s inflation rate in
2010 was percent.
Canada’s inflation rate in
2011was percent.
The BLS survey reported the numbers in the table for a small community of 300 people. Calculate the unemployment rate and the labor force participation rate in this community.
Category Number
Worked at least 1 hour as paid employees 175
Were not working but had jobs or businesses from which they were temporarily absent 30
Had no employment and didn’t want to work 25
Were available for work and had looked for employment last week 10
Were available for work and were waiting to be recalled to their previous job 15
The table shows a Consumer Expenditure Survey in Sparta, where people buy only juice and cloth.
Calculate the CPI market basket and the percentage of household budget spent on juice in the reference base year.
The reference base year and the year of the Consumer Expenditure Survey is 2012.
In 2012, the average household spent $60 on juice and $18 on cloth. The price of juice was $5
a bottle, and the price of cloth was $6 a yard. In 2014, the price of juice is $6 a bottle and the price of cloth is
$7 a yard
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