Eco403 Assignment No. 1 Announced
Wednesday, April 13, 2011 Posted In Eco Edit ThisSemester “Spring 2011”
“Macroeconomics (ECO403)”
Assignment No.01 Marks: 15
“Macroeconomics (ECO403)”
Assignment No.01 Marks: 15
Question 01:
Consider a hypothetical economy that produces and consumes wheat, burger,
clothes and drinks. Following table shows the data for two different years.
2006 2007
Commodities
Price (Rs) Quantity Price (Rs) Quantity
Wheat 3 100 8 120
Burger 20 50 36 70
Cloth 7 5 9 15
Drinks 25 10 30 12
With the help of above data, compute:
a) Nominal GDP for 2006 and 2007.
b) Real GDP for 2006 and 2007.
(Note: Use 2006 as base year where required.)
Marks: (3+3+3+3)
Question 02:
Use the following information for a hypothetical economy and answer the
questions given at the end of table.
2006 2007
Population 221.7 million 227.7 million
Adult population 167.2 million 170.2 million
Number of Unemployed 7.0 million 8.0 million
Number of employed 107.0 million 105.0 million
a) Calculate labor force of year 2006 and 2007.
b) Calculate unemployment rate of 2006 and 2007
Marks: (0.5+0.5+1+1)
Important Tips
1. This Assignment can be best attempted from the knowledge acquired
after watching video lecture no. 1 to lecture no 10 and reading handouts
as well as recommended text book.
2. Video lectures can be downloaded for free from Online VU Lectures.
Opening Date and Time April-13, 2011 At 12:01 A.M. (Mid-Night)
Due Date and Time April 18, 2011 At 11:59 P.M. (Mid-Night)
