Author Question: Suppose that in 2015 a country has a population of 1 million and real GDP of 1 billion. In 2016, the ... (Read 80 times)

mpobi80 · **on:** Jun 29, 2018

Suppose that in 2015 a country has a population of 1 million and real GDP of 1 billion. In 2016, the population is 1.1 million and the real GDP is 1.1 billion. The real GDP per person growth rate is

A) 1000.
B) positive.
C) negative.
D) zero.

Question 2

Suppose that the total labor force is 100 individuals with 10 unemployed. The unemployment rate is ________. Now assume that 10 people drop out of the labor force and that 10 remain unemployed. The new unemployment rate is ________.

A) 9 percent; 10 percent
B) 10 percent; 9 percent
C) 10 percent; 11 percent
D) 11 percent; 10 percent