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

[HAFIZA AREESHA ASLAM]

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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ECO403_Assignment_No_01_Solution_Fall_2020

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ECO403_Assignment_No_01_Solution_Fall_2020

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...

[HAFIZA AREESHA ASLAM]

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%

[+ M.Tariq Malik]

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%

 

 

[+ M.Tariq Malik]

ECO403_Assignment_No_01_Solution_Fall_2020

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ECO403_Assignment_No_01_Solution_Fall_2020