Anisha Bassie Upper 6 Assignment (15/09/20)
1. If Barbados produced $40bn of output in 2006 and in $42bn in 2007, calculate
the % growth rate.
- Percentage Growth Rate =
=
𝑷𝒓𝒆𝒔𝒆𝒏𝒕−𝑷𝒂𝒔𝒕
𝑷𝒂𝒔𝒕
𝟒𝟐𝒃𝒏−𝟒𝟎𝒃𝒏
𝟒𝟎𝒃𝒏
* 100
* 100
= 5%
2. If the labor force in a Caribbean island is 80,000 and the unemployed number
is 10,000, then calculate the rate of unemployment.
- Rate of Unemployment =
=
# 𝒐𝒇 𝑼𝒏𝒆𝒎𝒑𝒍𝒐𝒚𝒆𝒅 𝒑𝒆𝒓𝒔𝒐𝒏𝒔
𝑳𝒂𝒃𝒐𝒖𝒓 𝑭𝒐𝒓𝒄𝒆
𝟏𝟎′𝟎𝟎𝟎
𝟖𝟎′𝟎𝟎𝟎
*100
* 100
= 12.5%
3. What is a BOP deficit?
- Occurs when Outflows (Imports) are greater than Inflows (Exports)
4. Define the term, ‘Net Property Income from Abroad’.
- NPIA is the net balance of Interest, Profits dividends coming into the host
country (Trinidad) from assets owned overseas (UK) matched against the flow of
profits and other income from foreign owned assets located within the host
country (Trinidad). NPIA=is property income from abroad-property income
going abroad