Question
In: Economics
Suppose that you are deciding on where to pursue your career after graduating from college. You...
Suppose that you are deciding on where to pursue your career after graduating from college. You are considering five states, and your decision depends on two economic indicators, unemployment rate and GDP per capita. The data are provided in the table below.
|
State |
Population |
Labor Force |
Employment |
Unemployment |
Nominal Annual GDP |
|
Texas |
28701845 |
13955980 |
13430550 |
525430 |
$1,696,206,000,000.00 |
|
New York |
19542209 |
9625219 |
9248063 |
377156 |
$1,547,116,000,000.00 |
|
California |
39559045 |
19557719 |
18740012 |
817707 |
$2,746,873,000,000.00 |
|
Florida |
21299325 |
10320222 |
9967873 |
352349 |
$967,337,000,000.00 |
|
Michigan |
9998915 |
4915552 |
4717847 |
197705 |
$504,967,000,000.00 |
Q1. Calculate the unemployment rate and nominal GDP per capita by fill out all bank cells in the table below.
|
State |
Unemployment Rate |
Nominal GDP per capita |
|
Texas |
||
|
New York |
||
|
California |
||
|
Florida |
||
|
Michigan |
Solutions
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