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# 1303AFE Economics For Decision Making 1

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## Question:

• What is the difference between underemployment and marginal attachment to the labour market?
• The current unemployment rate is 6.6% and the number of people in the labour force is 175,585. Use this information to find the following.
• How many people are unemployed?
• If the working age population is 196,555, what is the labour force participation rate?
• Suppose that the size of the labour force increases by 20,000 people. What would happen to the unemployment rate? Assume that the number of people unemployed does not change. Explain your answer by referring to the relevant equation.
• Jim has been looking for a job after graduating from his post-graduate study. Jim has been searching for over 3 months since graduating. Is Jim frictionally unemployed, structurally unemployed or cyclically unemployed? Explain your answer.
• Describe the various key roles of the Reserve Bank of Australia (RBA) as specified on their website.
• i) Assume that the reserve ratio in a country is 16%. Calculate the simple money multiplier.
• Suppose that customers deposit \$1,800 into their banks. Based on the simple money multiplier calculated in part i), calculate the total amount which the money supply in the banking system will eventually increase to.
• If the reserve ratio decreases to 12.5%, calculate the total amount which the money supply in the banking system will eventually increase to. Assume the amount of fund initially deposited by customers is also \$1,800. Explain in detail how money multipliers work.
• The Central Bank of Sri Lanka would like to decrease the interest rates in the economy. What open market operation (OMO) action should the central bank take? Explain in detail the OMO process and its implications for the cash rate, interest rates, inflation and GDP. Draw by hand the effect of the OMO process using the MD-MS diagram.

### Cite This Work

My Assignment Help. (2021). Economics For Decision Making 1. Retrieved from https://myassignmenthelp.com/free-samples/1303afe-economics-for-decision-making-1/macroeconomics-assignment.html.

My Assignment Help (2021) Economics For Decision Making 1 [Online]. Available from: https://myassignmenthelp.com/free-samples/1303afe-economics-for-decision-making-1/macroeconomics-assignment.html
[Accessed 16 April 2021].

My Assignment Help. 'Economics For Decision Making 1' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/1303afe-economics-for-decision-making-1/macroeconomics-assignment.html> accessed 16 April 2021.

My Assignment Help. Economics For Decision Making 1 [Internet]. My Assignment Help. 2021 [cited 16 April 2021]. Available from: https://myassignmenthelp.com/free-samples/1303afe-economics-for-decision-making-1/macroeconomics-assignment.html.

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