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ECC1100 - Principles of macroeconomics - S2 2025
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Looking at the following table, what is the rate of growth of real average hourly earnings from 2016 to 2017?
Year
| Nominal Average Hourly Earnings, $ | CPI (2016 = 100) |
2016 | 10 | 100 |
2017 | 10 | 105 |
2018 | 12 | 110 |
If nominal wages rise faster than the price level, then real wages have ________ and the purchasing power of income has ________.
Assume that between 2017 and 2018, the CPI of a country rose from 182 to 185. If household incomes rose by 3% during that period of time, then which of the following is true?
Suppose that the data in the following table reflects the prices in the economy. What is the inflation rate in between 2017 and 2018?
Year | CPI (1990 = 100) |
2017 | 175 |
2018 | 180 |
If the number employed is 11 million, the number unemployed is 0.6 million, and the working-age population is 16 million, then the labour force participation rate is:
Joe just told his boss that he thinks his boss is stupid. What type of unemployment is Joe likely to experience in the near future?
People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of people who are experiencing:
Which of the following would reduce the labour force participation rate, all else equal?
How is a ‘retired person’ classified?
If prices are rising on average, then real GDP will: