JNU -1999

Posted by Anjali on Mar 25, 2014; 4:45pm
URL: http://discussion-forum.276.s1.nabble.com/JNU-1999-tp7585510.html

In a closed economy output is given by Y= min(4K , 6L ). In period 1 , out of total labour force of 10000 , 1000 are unemployed. If the economy , habitually saves and invests 15% of output , and if rate of growth of its labour force is 10% per period , what would be the percentage of unemployment in period 2 ?