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

Expert Solution

Rahul Sunny answered 1 year ago
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