Answer to Question #255049 in Macroeconomics for Sharon

Question

How to calculate unemployment, growth rate and inflation?

Answer 1

How to calculate unemployment

The unemployed are both people out of work and those actively searching for jobs. Thus the unemployment rate is calculated by dividing the number of unemployed people by the total number of people in the labor force then multiply by 100 to get the percentage unemployed rate.

2. Growth rate

People's growth rate is calculated by subtracting the previous population size from the current population size then multiplying the answer by 100.

3. Inflation

The inflation rate is computed by dividing normal gross domestic product(GDP) by real GDP and then multiplying by 100.