Scribd
Upload
696 views

Student ID: BC180201926 Subject: ECO 403

The document provides information about the GDP and other economic indicators of Bangladesh for the years 2016-2017. It includes tables with data on consumption, investment, government expenditures, net exports, GDP, population, employment, inflation, interest rates, and prices and production of goods. The document contains 3 requirements to calculate missing values in the tables, determine the 2017 labor force and unemployment rate, and calculate the 2014 nominal and real GDP using 2013 as the base year.

Uploaded by

studentcare mtn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
696 views

Student ID: BC180201926 Subject: ECO 403

The document provides information about the GDP and other economic indicators of Bangladesh for the years 2016-2017. It includes tables with data on consumption, investment, government expenditures, net exports, GDP, population, employment, inflation, interest rates, and prices and production of goods. The document contains 3 requirements to calculate missing values in the tables, determine the 2017 labor force and unemployment rate, and calculate the 2014 nominal and real GDP using 2013 as the base year.

Uploaded by

studentcare mtn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

Student ID: BC180201926

Subject: ECO 403

Requirement # 1:

Suppose the Consumption, Investment, Government expenditures, Net exports and Gross
Domestic Product (GDP) for the year 2016 and 2017 for the economy of Bangladesh are
given below in the table no.1. Complete the missing values by using given information.
Solution:
Given Table:
Items (Rs.) Year 2016 Year 2017
Consumption ( C ) Rs. 55,000 Rs. 90,000
Innvestment ( I ) Rs. 73,000 Rs. 80,000
Government Expenditures ( G ) Rs. 91,000 Rs. 95,000
Net Exports ( NX ) Rs. 21,000 Rs. 10,000
Gross Domestic Product ( Y ) Rs. 2,40000 Rs. 2,75,000

(A)
Net Export (NX) = Y – C – I – G
NX = Y – C – I – G
= 2,40,000 – 55,000 – 73,000 – 91,000
= 21,000
Net Export (NX) = Rs. 21,000

(B)

NX = Y – C – I – G
Y = C + I + G + NX
= 90,000 + 80,000 + 95,000 + 21,000
= 2,75,000
Y = Rs. 2,75,000
Requirement # 2:

Keeping in view the hypothetical data for different indicators of Bangladesh economy given
in table no. 2, calculate the following:
a. Labor force for the year 2017
b. Unemployment rate for the year 2017
Solution:
Given Table:
Indicators Year 2017
Population 3000000
No. of unemployed persons 200000
No. of employed persons 700000
Inflation rate 5%
Interest rate 4%
Labor Force 900000
Unemployment Rate (%) 22.22 %

(A)
Labor Force = Number of Employed Person + Number of Unemployed Person
= 700000 + 200000
= 900000
(B)
Unemployment Rate = (Unemployed / Labor Force) x 100
= (200000/900000) x 100
= 0.2222222222222222 x 100
= 22.22222222222222 %
= 22.22 %
Requirement # 3:
Suppose the economy of Bangladesh produces only two goods; Wheat and apples. Price
and quantity of wheat and apples has been given in table no.3 for the years 2013 and 2014.
Calculate the following by using given information.
a. Nominal GDP for the year 2014
b. Real GDP for year 2014 by taking 2013 as base year
Solution:
Given Table:
Year 2013 Year 2014
Goods Price (Rs.) Quantity Price (Rs.) Quantity
Wheat 07 150 10 200
Apples 11 90 15 110
Nominal GDP Rs. 3650
Real GDP Rs. 2610

(A)
Nominal GDP for the Year 2014 = (Price x quantity) + (price x Quantity) + …………..
= (10 x 200) + (15 x 110)
= 2000 + 1650
= Rs. 3650

(B)
Real GDP = Base Price (2013) x Quantity (2014) + ……..
= (07 x 200) + (11 x 110)
= 1400 + 1210
= Rs. 2610

You might also like