ECO403 Assignment 1 Solution 2021 - VU Answer

In This Post, Provide ECO403 Assignment 1 Solution Spring 2021. A Complete Step by Step ECO403 Assignment 1 Solution 2021. Easy to Download ECO403 Assignment 1 PDF File.

ECO403 ASSIGNMENT 1 SOLUTION SPRING 2021 

Provide by VU Answer

Requirement No 1:

Table no.1:

	Year 2016		Year 2017
Goods	Price (Rs)	Quantity	Price (Rs)	Quantity
Orange	05	200	07	300
Mango	07	100	10	200

Calculate the following by using given information.

1. Nominal GDP for the year 2016:

2. Nominal GDP for the year 2017:

Solution:

Nominal GDP for the year 2016:

Hint : GDP = [P (O) ⋅ Q (O)] + [P (M) ⋅ Q (M)]

Year 2016		Nominal GDP
Price (Rs)	Quantity	Rs.1700
05	200
07	100

Nominal GDP for the year 2017:

Hint : GDP = [P (O) ⋅ Q (O)] + [P (M) ⋅ Q (M)]

Year 2017		Nominal GDP
Price (Rs)	Quantity	Rs.4100
07	300
10	200

Requirement No 2:

Hint : GDP = C + I + G + NX

Items (Rs.)	Year 2015	Year 2016	Year 2017
Consumption (C)	Rs. 40,000	Rs.55,000	Rs.50,000
Investment (I)	Rs.20,000	Rs. 25,000	Rs.40,000
Government expenditures (G)	Rs.60,000	Rs.45,000	Rs. 50,000
Net exports (NX)	Rs.10,000	Rs.15,000	Rs.30,000
Gross Domestic Product = Y	Rs.1,30,000	Rs.1,40,000	Rs.1,70,000

Requirement No 3:

Indicators	Year 2019
Adult Population	150,0000
No. of unemployed persons	700,000
No. of employed persons	500,000
Labor force participation rate	= 80%
Unemployment rate	= 58.3%

Labor force participation rate:

= Labor force / Adult population  x 100

= 700000 + 500000 / 1500000 x 100

= 80%

Unemployment Rate :

= Unemployment person / Labor Force x 100

= 700000 / 1200000 x 100

= 58.333%

PLEASE NOTE:

Don't copy-paste the same answer.

Make sure you can make some changes to your solution file before submitting copy paste solution will be marked zero.

If you found any mistake then correct yourself and inform me.

Before submitting an assignment check your assignment requirement file.

If you need some help and question about file and solutions.

MORE ANY ASSIGNMENTS SOLUTION FREE 

www.vuanswer.com