IDNLearn.com provides a seamless experience for finding the answers you need. Join our community to receive timely and reliable responses to your questions from knowledgeable professionals.
Explanation of calculating unemployment rate, determining full employment, and GDP deflator calculation.
Unemployment Rate Calculation:
1. Unemployment rate = (Number of unemployed workers / Labor force) x 100%
2. Full employment level is when there is no cyclical unemployment, meaning all frictional and structural unemployment is accounted for.
Unemployment Rate Change:
- Initially: 10% unemployment
- After: 5.56% unemployment, indicating improvement.
Nominal GDP to Deflator:
Implicit Price Deflator = (Nominal GDP / Real GDP) x 100
https://brainly.com/question/34318665