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ECS1601-25-Y_ASS3
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Use the following information to answer the question:
Amount of Economic Activity (Nominal): Gross Domestic Production
|
Population
| ||
2019
|
2020
|
2019
|
2020
|
351 billion
|
302 billion
|
58,6 Million
|
59,3 million
|
Gross Domestic Product (GDP) per capita is one of the economic
indicators used to measure the performance of an economy and is commonly used
as a broad measure of average living standards or economic wellbeing. GDP per capita
equals gross domestic product divided by population. What is the growth rate in
GDP per capita from 2019 to 2020? Round to two decimals.
Suppose 24 000 567 people are in the labour force, 5 234 567 public and 13 234 567 private. What is the unemployment rate? Round to two decimals.
Suppose 24 000 567 people are in the labour force, 5 234 567 are employed in the public sector and 13 234 567 in the private sector. How many people are unemployed?
Which statement about a negative Nominal GDP growth rate is correct?
One of the objectives of the South African Reserve Bank is inflation targeting, and the inflation target for South Africa is between 3 and 6 per cent. There happens to be an excess demand for goods and services, which has led to an increase in the general price level, that is, inflation.
If the inflation rate were above the target, it would be appropriate for the South African Reserve Bank to …