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Calculate the unemployment rate in 2017 and 2018

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Reference no: EM133133789

The table below shows economic information for a hypothetical economy with a flexible exchange rate.

 

2017

2018

CPI

100

115

Labor force ('000)

11000

11360

Full-time employed ('000)

7250

7920

Part-time employed ('000)

3200

3400

Net foreign debt ($ billion)

900

1000

Net foreign liabilities ($ billions)

1050

1053
  1. With reference to the table, calculate the unemployment rate in 2017 and 2018. Show all working. 
  2. Explain 2 types of unemployment that we discussed in class.

Reference no: EM133133789

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