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Colombia Labor Market Analysis Exam

This document contains a summary of a midterm exam covering topics such as labor classification in Colombia, indicators of the labor market, fact-checking statements on Twitter, and goods market equilibrium. It includes 15 multiple choice and short answer questions testing understanding of key labor market statistics in Colombia, calculating unemployment and participation rates, validating a tweet about unemployment rates during a former president's term, and solving for equilibrium in the goods market model.

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jessica jimenez
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88 views3 pages

Colombia Labor Market Analysis Exam

This document contains a summary of a midterm exam covering topics such as labor classification in Colombia, indicators of the labor market, fact-checking statements on Twitter, and goods market equilibrium. It includes 15 multiple choice and short answer questions testing understanding of key labor market statistics in Colombia, calculating unemployment and participation rates, validating a tweet about unemployment rates during a former president's term, and solving for equilibrium in the goods market model.

Uploaded by

jessica jimenez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Midterm Exam 1

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Table of Contents
Labor clasification in Colombia ....................................................................................................................... 1
Main indicators of the labor market .............................................................................................................. 2
Finding the truth about statements on twitter.......................................................................................... 2
The goods market ................................................................................................................................................. 2

Labor clasification in Colombia


• The data below were estimated by Departamento Nacional de Estadística - DANE
using the Great Integrated Household Survey - GEIH:
Some data of the labor clasification in Colombia on June 2019 (Results in thousands)
Indicator Value
Total Population (TP) 48889
Working Age Population (WAP) 39334
Economically Active Population (EAP) 24975
Employed (E) 22618
Visible Unemployment (VU) 2221
Underemployed (UE) 9545
1. Calculate the Population below 10 or 12 years (Rural or Urban) (3 points)

2. Calculate the Economically Inactive Population (EIP) (3 points)

3. Calculate the Unemployed (U) (3 points)

4. Calculate the Full Employed (FE) (3 points)


5. Calculate the Invisible Unemployment (IU) (3 points)
Main indicators of the labor market
Using the information and the results calculated above find:
6. Gross participation rate (GPR) (3 points)

7. Labor participation rate (LPR) (“Tasa Global de Participación” in Spanish) (3 points)

8. Unemployment rate (UR) (3 points)

9. Employment rate (ER) (3 points)

Finding the truth about statements on twitter


• Enter into the Bank of the Republic (Colombia) using the route:
http://www.banrep.gov.co/ > Estadísticas > Actividad económica, mercado laboral y
cuentas financieras > 4. Empleo y desempleo > Tasas de empleo y desempleo > Descargar:
Total Nacional
• Enter into the link:
<https://twitter.com/AlvaroUribeVel/status/1025061735554842625>
10. Point out if the 9.1% value is true based on the Bank of the Republic (Colombia)
information. (3 points)

11. Point out if in any of the presidential periods of Álvaro Uribe Vélez the unemployment
rate (UR) was lower than 9.1% at some time. (3 points)

12. Point out if the hashtag on the twitter message is valid. (3 points)

The goods market


This exercise if taken from:
Oliver Blanchard (2017) Macroeconomics (7 Edition) > Chapter 3 The Goods Market >
Questions and Problems > Exercise 2
• The following equations refer to the goods market of an economy in billions of euros:
𝐶𝑡 = 480 + 0.5𝑌𝑡𝐷
𝐼𝑡 = 110
𝑇𝑡 = 70
𝐺𝑡 = 250
13. Solve for the goods market equilibrium (5 points)
14. Find equilibrium disposable income (𝑌𝑡𝐷 ) (5 points)
15. Find equilibrium consumption (𝐶𝑡 ) (4 points)

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