What was the increase in real income from year 3 to year 4 in percentage?

In the table below are statistics showing the labor force and total employment in month 1 and month Show more In the table below are statistics showing the labor force and total employment in month 1 and month 2 of the same year. Make the computations necessary to complete the table. (Number of persons is in thousands.) Month 1 Month 2 Labor force 136297 137065 Employed 129558 129526 Unemployed _________ _________ Unemployment rate (%) _________ _________ 2. Name the type of unemployment occurring in each of the causes below and explain your answer. (a) Frank recently lost his job as the computer manufacturing company he works for recently downsized after poor sales and poor performance of the economy during the last year. (b) Julie just recently graduated from college and is spending the summer traveling before she begins a job with a consulting firm in the fall. (c) Tom recently lost his job as the steel manufacturing firm he worked for moved their plant overseas. The other steel plants in the nation have been also been following this trend. (d) Susan recently left her marketing job at a local bank because she found that finance interests her more. She is currently looking for a job as a financial consultant. 3. Describe the four phases of the business cycle. 4. Answer the next four questions based on the following data using year 1 as the base year. All dollars are in billions. Year Nominal income CPI 1 $3166 100 2 3402 114 3 3774 108 4 3989 112 (a) Find real income in year 4. (b) What was the percentage rise in prices between years 1 and 3? (c) What was the percentage rise in prices between years 2 and 4? (d) What was the increase in real income from year 3 to year 4 in percentage? Show less

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