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ECO403 Assignment 01 Fall 2020 Solution / Discussion Due Date: 10-12-2020

MACROECONOMICS (ECO403)

ASSIGNMENT

 

DUE DATE: 10th DECEMBER, 2020 MARKS: 10

 

The Case:

Agricultural sector is very important sector of Pakistan’s economy and is considered the backbone of this economy. Agriculture sector is a major source of revenue collection and employment generation as well. The major crops include wheat, rice, sugarcane, cotton, fruits and vegetables. These crops are also exported in different countries to earn revenues. Different facts and figures of the economy of Pakistan, for three years in three different tables, along with their particular requirement have been given below.

 

Requirement # 1:

Suppose the Nominal and Real Gross Domestic Product (GDP) for the year 2009, 2010 and 2011 for the economy of Pakistan is given below in the “Table no.1”. Calculate the missing values by using given information.

 

Table no.1:

Year

Nominal GDP

Real GDP

GDP deflator

Inflation rate

2009

Rs.50000

Rs.50000

100.0

-----------

2010

Rs.73000

Rs.70000

?

?

2011

Rs.90000

Rs.85000

?

?

 

(Marking scheme: 1+1+1+1)

 

Requirement # 2:

Suppose the Consumption, Investment, Government expenditures, Net exports and Gross Domestic Product (GDP) for the year 2014 and 2015 for the economy of Pakistan is given below in the “Table no.2”. Calculate the missing values by using given information.

 

Table no.2 

Items (Rs.)

Year 2014

Year 2015

Consumption (C)

?

Rs.70,000

Investment (I)

Rs.30,000

Rs.40,000

Government expenditures (G)

Rs.90,000

Rs.80,000

Net exports (NX)

Rs. 10,000

Rs. 20,000

Gross Domestic Product = Y

Rs.1,80,0000

?

 

(Marking scheme: 2 + 2)

 

Requirement # 3:

Suppose the adult population, number of unemployed and number of employed persons for the year 2014 for the economy of Pakistan is given below in the “Table no.3”. Calculate the missing values by using given information.

 

Table no.3:

Indicators

Year 2014

Adult Population

100,0000

No. of unemployed persons

400,000

No. of employed persons

300,000

Labor force

?

Labor force participation rate

?

 

(Marking scheme: 1 + 1)

 

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Then copy Questions from assignment file and paste in Discussion.

ECO403_Assignment_No_01_Solution_Fall_2020

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ECO403_Assignment_No_01_Solution_Fall_2020

...

2010 GDB DEFLATOR =104.28        INFLATION RATE= 4.28%

2011 GDB DEFLATOR =105.88        INFLATION RATE=1.53%

CONSUMPTION RATE=1670000       Y=210000

LABOR FORCE=7LAC                      RATE=70%

Semester Fall 2020

Macroeconomics (ECO403) Assignment # 1

 

Topic: Data of Macroeconomics

Requirement # 1: Suppose the Nominal and Real Gross Domestic Product (GDP) for the year 2009, 2010 and 2011 for the economy of Pakistan is given below in the “Table no.1”. Calculate the missing values by using given information.

Table # 1:

GDP deflator = Nominal GDP/Real GDP*100, Inflation rate = Lower class – Upper class

 

Year

Nominal GDP

Real GDP

GDP deflator

Inflation rate

2009

Rs. 50,000

Rs. 50,000

100.0

--------

2010

Rs. 73,000

Rs. 70,000

104.28

4.28%

2011

Rs. 90,000

Rs. 85,000

105.88

1.53%

 

Requirement # 2: Suppose the Consumption, Investment, Government expenditures, Net exports and Gross Domestic Product (GDP) for the year 2014 and 2015 for the economy of Pakistan is given below in the “Table no.2”. Calculate the missing values by using given information.

Table # 2:

Items (Rs)

Year 2014

Year 2015

Consumptions ©

1,670,000

Rs. 70,000

Investment (I)

Rs. 30,000

Rs. 40,000

Government Expenditure (G)

Rs. 90,000

Rs. 80,000

Net export (NX)

Rs. 10,000

Rs. 20,000

Gross Domestic Product = Y

Rs. 1,800,000

Rs. 210,000

 

Requirement # 3: Suppose the adult population, number of unemployed and number of employed persons for the year 2014 for the economy of Pakistan is given below in the “Table no.3”. Calculate the missing values by using given information.

Table # 3:

Indicators

Year 2014

Adult Population

1,000,000

No. of unemployed person

400,000

No. of employed person

300,000

Labor force

700,000

Labor force Participation rate

70%

 

 

ECO403_Assignment_No_01_Solution_Fall_2020

Click on the below link to download the file

ECO403_Assignment_No_01_Solution_Fall_2020

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