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    This 3 sentence summary provides the key details about the document: This document outlines an economics assignment from Hong Kong Baptist University that contains 3 questions asking students to explain why import spending is subtracted from total expenditures to calculate GDP, why full employment is defined as the natural unemployment rate instead of zero unemployment, and to define and explain the three types of unemployment and provide job finding advice for each.

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    This 3 sentence summary provides the key details about the document: This document outlines an economics assignment from Hong Kong Baptist University that contains 3 questions asking students to explain why import spending is subtracted from total expenditures to calculate GDP, why full employment is defined as the natural unemployment rate instead of zero unemployment, and to define and explain the three types of unemployment and provide job finding advice for each.

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    8 views1 page

    Assignment 1

    Uploaded by

    何子鋒
    This 3 sentence summary provides the key details about the document: This document outlines an economics assignment from Hong Kong Baptist University that contains 3 questions asking students to explain why import spending is subtracted from total expenditures to calculate GDP, why full employment is defined as the natural unemployment rate instead of zero unemployment, and to define and explain the three types of unemployment and provide job finding advice for each.

    Copyright:

    © All Rights Reserved
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    Hong Kong Baptist University

    ECON1006 Principles of Economics II (Macroeconomics)


    Semester 2, 2022/23
    Assignment 1

    This assignment contains three questions. Please submit your answers in doc or pdf format
    through Moodle on or before 16th February 2023. There should be no more than 100 words in
    your answers to each question.

    Question 1 (4 marks)
    When we measure the GDP through the expenditure approach, why do we subtract import
    spending from the total expenditures?

    Question 2 (3 marks)
    A central concept in macroeconomics is the idea of the natural rate of unemployment. Why does
    it make sense to define full employment to occur when the unemployment rate equals the natural
    rate of unemployment, instead of when the unemployment rate equals zero? Elaborate and
    explain carefully.

    Question 3 (3 marks)

    To understand why someone cannot get a job, it helps to know the three types of unemployment.
    List the three types of unemployment and explain what causes each type. What advice for finding
    a job would be appropriate for someone in each type of unemployment?

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