Ask Your question
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!
Search & Filtering
Also, may I ask what are the demand and supply-side suggestions for a low inflation rate?
a) Define and calculate the unemployment rate for Zambia given the information below:
Number of inhabitants: 10 million
Labour-force participation: 62 %
Unemployed persons: 455'000
b) Using the information in (a) calculate the participation rate and define it.
c) List and briefly explain any four types of unemployment.
There are various methods in literature that countries use in calculating national income. Assume a simple economy that produces only two goods; maize and fish. Using 2015 as the base year.
Goods 2015 2016 2017 2018
Maize Quantities 700 900 1000 950
Fish Quantities 500 1000 900 750
Price of Maize K65 K70 K80 K90
Price of Fish K50 K70 K90 K120
a) Fill in the missing cells in the above table. Clearly show your work.
b) Find the growth rate of nominal GDP for 2016, 2017 and 2018.
c) Find the growth rate of real GDP (using 2015 K) for 2016, 2017 and 2018.
d) Compute inflation using GDP deflator (using 2015 K) for 2016, 2017, and 2018.
e) What are the major differences between the GDP deflator and the CPI?
Gross private domestic investment = 40
Government purchases of goods and services = 30
Gross national product (GNP) = 200
Current account balance = -20
Taxes = 60
Government transfer payments to the domestic private
sector = 25
Interest payments from the government to the domestic
private sector = 15 (Assume all interest payments by
the government go to domestic households.)
Factor income received from rest of world = 7
Factor payments made to rest of world = 9
Find the following, assuming that government investment
b. Net exports
d. Net factor payments from abroad
e. Private saving
f. Government saving
g. National saving
a) Determine the combination of labour and capital that the company should hire in order to maximize profits.
b) Suppose that the price of labour increase to GH¢2.00 per unit. What effect will this have on output per unit of labour?
Is the company’s production subject to decreasing returns to scale? Why or why not?