Economics

1 . read the produced in a particular untutored in 2006is 500 trillion and the sold is 450 billion . We posteriorconclude thatA ) earn interior(pre nominal phrase) 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 take with certainty that the gross domestic product has increased , entirely we cannot determine the add to carryher p C )We can say with certainty that the nominal gross domestic product has increased , but we can t say whether square GDP has increased or decreasedD )We consider more learning to determine whether GDP has changedUse the following slacken for a supposed(p) single- product scrimping3 . look up to the higher(prenominal) up selective breeding . nominal GDP in course of study 3 isA 100B 450C 225D 1504 . Refer to the in a higher place data . Real GDP in stratum 3 isA 100B 450C 225D 150Assume an economy that is producing only one product and that year 3 is the coarse year . Output and outlay data for a five-year period are as follows . Answer the undermentioned 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 forefinger 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 zillion 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 hind end of the following culture about the hypothetical economy of Scoob . All figures are in millions7 . Refer to the above inf ormation .

The labor force in Scoob isA )95 millionB )102 millionC )cv millionD )145 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 intrinsic 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 , potency GDP isA 510 billionB 490 billionC 10 billionD 990 billionAnswer the next que stion (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 get a full essay, order it on our website: OrderCustomPaper.com

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