§-Quick questions
QLDEconomicsUnit 2: Modified markets
Quick questions on Macroeconomic measurement: GDP, CPI and unemployment (QCE Economics Unit 2)
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the unemployment rate?Show answer
Unemployment rate = number of unemployed people / labour force × 100.
What is using the indicators together?Show answer
The three core indicators (real GDP, CPI, unemployment) tell complementary stories:
What is participation rate?Show answer
Labour force as a percentage of the working-age population. Around 67 percent in 2024.
What is underemployment ratio?Show answer
Workers wanting more hours / employed.
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