FDNECON 01 · Macroeconomic Goals, Employment and Prices
Conventions
Original source-based practice for FDNECON Quiz #2. Questions are independent: use only each item’s complete givens. Amounts and units are stated in every numerical case. Numeric written answers omit currency symbols and units; rates are entered as numerical percentages (5 means 5%). Round only the final result to two decimals unless instructed otherwise. The course money-market diagram treats supply as vertical and policy-determined, with downward-sloping demand and other determinants fixed. Numerical money-demand equations, finite/infinite spending chains, gap percentages and multiplier/tax formulas are fully stated hypothetical practice extensions, not claims about measured Philippine outcomes or guaranteed policy effects. Expenditure and income approaches remain separate; foreign-income boundary inconsistencies in the source are explained in the reviewer. No question requires an unprovided graphic or another item’s answer.
Questions
01Enter the unemployment rate as a percentage, rounded to two decimals.
Problem
The stated working-age population consists of 7,000 employed people, 1,000 unemployed people and 4,000 outside the labor force. Enter only the numerical percentage.
02Complete the missing participation rate, as a percentage.
| Item | Value |
|---|---|
| Employed | 7000 |
| Unemployed | 1000 |
| Outside labor force | 4000 |
| Participation rate (%) | ? |
03Calculate the unemployment rate after the exits, as a percentage.
Problem
Initially employed = 7,000 and unemployed = 1,000. Then 300 unemployed people leave the labor force. No one changes employment status otherwise. Round the new unemployment rate to two decimals.
04Identify the unemployment type.
Problem
A worker loses a job permanently after automation. Available new positions require a technical qualification the worker lacks. No recession or seasonal change is stated.
05Enter the real GDP growth rate as a percentage.
Problem
Real annual GDP falls from ₱3,000 billion to ₱2,880 billion. Both figures use the same base prices. Enter a signed percentage.
06Complete the CPI, with the base period equal to 100.
| Item | Value |
|---|---|
| Base meal price (₱) | 50 |
| Current meal price (₱) | 65 |
| Base notebook price (₱) | 100 |
| Current notebook price (₱) | 100 |
| Current CPI (base=100) | ? |
07Enter inflation as a percentage.
Problem
CPI was 150 last year and is 156 this year. Use the prior-year denominator.
08Name the price process: inflation remains positive but slows.
Problem
The overall price index rose 8% last year and rises 3% this year. Identify the slowdown, not the price level.
09How many people are in the labor force?
| Item | Value |
|---|---|
| Employed | 6000 |
| Unemployed | 600 |
| Outside labor force | 3400 |
| Labor force (persons) | ? |
10Identify the business-cycle turning point.
Problem
Activity has been declining. It reaches a low point and begins rising afterward. Name the low turning point.