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Labor force participation rate

    Assignment Instructions

    Assignment ID: FG133134404

    Given: Full employment rate = 90%

    Labor force participation rate = 80%

    Inflation rate 2000(b=1998) = 12.50%

    # of underemployed and unemployed = 10 million

    Nominal wage (2000) = P 220 per day

    PCRGDP 2000 (b=1998) = P 16,000

    Compute: 1. Labor Force

    2. NGDP 2000

    2. Real wage per day 2000 (b= 1998)

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