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Questions › IIT JAM › IIT JAM 2024 › Q49
1 markMacroeconomics › Inflation, unemployment and the Phillips curve › Measuring unemploymentModerateabout 2 min

IIT JAM 2024 Question 49: Inflation, unemployment and the Phillips curve

Given for 2010: unemployment rate 15%15\%15%, unemployed 303030 million, LFPR 70%70\%70%; for 2020: unemployment rate 20%20\%20%, unemployed 505050 million, LFPR 80%80\%80%. The percentage change in working-age population from 2010 to 2020 is ________ (rounded off to two decimal places).

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Plain-text version

Given for 2010: unemployment rate 15%, unemployed 30 million, LFPR 70%; for 2020: unemployment rate 20%, unemployed 50 million, LFPR 80%. The percentage change in working-age population from 2010 to 2020 is (rounded off to two decimal places).

Inflation, unemployment and the Phillips curve has come up 106 times in 7 exams since 2006.

What this question tests

This question is on Measuring unemployment, part of Inflation, unemployment and the Phillips curve in Macroeconomics.

How the unemployment rate is defined and computed, and the types of unemployment.

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Question from the IIT JAM 2024 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.