Economics

1 . Suppose the produced in a particular world in 2006is 500 one thousand million and the change is 450 billion . We disregardconclude thatA )gross domesticated 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 c to JonesA )We fanny hypothecate with certainty that the gross domestic product has increased by 100B )We can declare with certainty that the gross domestic product has increased , barely we cannot determine the amount p C )We can say with certainty that the nominal gross domestic product has increased , but we can t say whether real gross domestic product has increased or decreasedD )We inquire more discipline to determine whether GDP has changedUse the following succumb for a sibyllic si ngle-product economy3 . signify to the preceding(prenominal) data . titular GDP in year 3 isA 100B 450C 225D 1504 . Refer to the higher up data . Real GDP in year 3 isA 100B 450C 225D 150Assume an economy that is producing only one product and that year 3 is the subject year . Output and worth data for a five-year period are as follows . Answer the next dubiousness mood (s ) on the understructure of these data 5 . Refer to the preceding(prenominal) data . If year 3 is chosen as the root word year , the price index 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 percentC )rise by 6 percentD )fall by 12 percentAnswer the next indecision (s ) on the ground of the following tuition about the hypothetical economy of Scoob . All figures are in millions7 . Refer to the supra information .

The labor force in Scoob isA )95 millionB )102 millionC ) one hundred five 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 earthy 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 , apparent GDP isA 510 billionB 490 billionC 10 billionD 990 billionAnswer the next question (s ) on the basis of the foll owing 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 . amidst 1980 and 2000 the price level approximately doubled . The average annual...If you desire to vanquish a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay