What is the size of the labour force in this economy?…

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  1. What is the size of the labour force in this economy?

  1. (1 mark) Calculate the Labour Force Participation Rate for this economy. Report as a percentage to two decimal places.
  1. (1 mark) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.
  1. (1 mark) Suppose that the natural rate of unemployment is considered to be 5%. What is the rate of cyclical unemployment? Report as a percentage to two decimal places.

  1. Analyse the effects of the following events using the loanable fund market diagram where we have (real) interest rate on the vertical axis and the quantity of loanable fund on the horizontal axis. Please ensure to explain what happens to saving, investment and (real) interest rate.

Consumers decide to save more to

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MACRO1 (ECON1010) Assignment 1 (Chapter 28, 26&27) Submit online at the ‘Assessment Task’ in Blackboard Due: 11:59PM on 23 April (Sunday) Tutorial Time and Day: _______________________________________________________________________________________________ Student Name: ________________________________________________________________________________________________________ Student ID: _____________________________________________________________________________________________________________ This assignment covers the following topics: Unemployment (Chapter 28) Productivity and Growth (Chapter 26) Saving, Investment and Financial System (Chapter 27) READ THE FOLLOWING FIRST (Very Important) This assignment contributes to 20% of the overall marks for the course. Only a single submission permitted (hence, please ensure to attach the file version of the assignment) Use and Submit this template only for your submission (i.e., write down your answers in the space provided in each question and submit) – any other form of the file is NOT accepted (Failing to do so will automatically mean zero mark for this task). If you do not have a word processor installed in your home computer, follow this link and in “APPS” you can use a Microsoft word processor; HYPERLINK “http://www1.rmit.edu.au/students/mydesktop” http://www1.rmit.edu.au/students/mydesktop The recommended browsers when uploading the file are Chrome, Firefox or Explorer (some have suggested that Safari might not work well). The font size has to be at least 12. Explain your answers, but be succinct. Label each axis and explain the diagram that you use carefully (if any). Show all of your working in order to get partial credits. After the due date any late submission will be marked as ‘late’. A penalty of 10% of the allocated marks (i.e., 2 marks) per day will apply for late submissions. A failure of your home computer (or any kind of the IT problem) cannot be a reason for the late submission (all…

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