If the Number of People Classified as Unemployed Is 5,000

question 279

Multiple Choice

If the number of people classified as unemployed is 5,000 and the number of people classified as employed is 45,000, what is the unemployment rate?

• A) 4.5%
• B) 5.0%
• C) 9.5%
• D) 10%

Analyze how changes in the prices of goods and services in a simple economy affect the CPI.

Understand what real interest rates reveal about the economy that nominal rates do not.

Discuss the major problems associated with using the CPI as a measure of the cost of living.

Know the steps involved and the importance of calculating the consumer price index (CPI) and the inflation rate.

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