Economics

1 . recollect the produced in a particular unlearned in 2006is 500 trillion and the sold is 450 billion . We posteriorconclude thatA ) plebeian interior(pre token(a)) product in 2006 is 450 billionB )NDP in 2006 is 450 billionC )gross domestic product in 2006 is 500 billionD )inventories in 2006 fell by 50 billion2 . Suppose Smith pays blow to JonesA )We can differentiate with certainty that the gross domestic product has increased by 100B )We can secern with certainty that the gross domestic product has increased , entirely we cannot determine the marrow p C )We can say with certainty that the nominal gross domestic product has increased , but we can t say whether true GDP has increased or decreasedD )We consider more breeding to determine whether GDP has changedUse the following slacken for a supposed(p) single-produc t rescue3 . signify to the higher(prenominal) up info . nominal GDP in twelvemonth 3 isA 100B 450C 225D 1504 . Refer to the in a higher place data . Real GDP in yr 3 isA 100B 450C 225D 150Assume an economy that is producing only one product and that year 3 is the coarse year . Output and harm data for a five-year period are as follows . Answer the adjacent caput (s ) on the dry land of these data 5 . Refer to the higher up data . If year 3 is chosen as the base year , the price index finger for year 1 isA )140B )40C )167D )606 . If a nation s real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million , it real GDP per capita willA )remain constantB )fall by 6 percentageC )rise by 6 percentD )fall by 12 percentAnswer the next interview (s ) on the initiation of the following culture about the hypothetical economy of Scoob . All figures are in millions7 . Refer to the above learning . The labor force in Scoob isA )95 millionB )102 millionC )cv millionD )14! 5 million8 . Refer to the above information . The unemployment rate in Scoob isA )2 .5 percentB )3 .2 percentC )5 .0 percentD )6 .9 percent9 . Refer to the above information . If the inbred rate of unemployment in Scoob is 5 percent , thenA )structural unemployment is about 3 percentB )frictional unemployment is about 2 percentC )cyclical unemployment is about 2 percentD )hidden unemployment is about 5 percent10 . If actual GDP is 500 billion and there is a negative GDP gap of 10 billion , capability GDP isA 510 billionB 490 billionC 10 billionD 990 billionAnswer the next question (s ) on the basis of the following information for a specific year in a hypothetical economy for which Okun s law is applicablePotential Real GDP 200 billionNatural rate of unemployment 6 percentActual rate of unemployment 12 percent11 . amongst 1980 and 2000 the price level approximately doubled . The average annual...If you desire to use up a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper