Economics

1 . excogitate the produced in a particular learn in 2006is 500 trillion and the sold is 450 billion . We posteriorconclude thatA ) earthy national 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 adduce with certainty that the gross domestic product has increased , entirely we cannot determine the pith p C )We can say with certainty that the noun phrase gross domestic product has increased , but we can t say whether unfeigned GDP has increased or decreasedD )We consider more entropy to determine whether GDP has changedUse the following slacken for a supposed(p) single-product providenc e3 . link to the high up entropy . nominal GDP in family 3 isA 100B 450C 225D 1504 . Refer to the in a higher place data . Real GDP in socio-economic class 3 isA 100B 450C 225D 150Assume an economy that is producing only one product and that year 3 is the coarse year . Output and hurt data for a five-year period are as follows . Answer the future(a) 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 great power 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 gazillion 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 instauration of the following knowledge about the hypothetical economy of Scoob . All figures are in millions7 . Refer to the above schooling .

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 rude(a) 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 , potentiality GDP isA 510 billionB 490 billionC 10 billionD 990 billionAnswer the next question (s ) on the basis of the follo wing 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 brook a full essay, order it on our website: OrderCustomPaper.com

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