Exports Net foreign factor income Government purchases so 10 80 21.How much is G

Question

Exports Net foreign factor income Government purchases so 10 80 21.How much is GDP A. $320 B. 330 ?. 482 D. 300 Suppose the following data describe a nation's population: Year 1 Year 2 Population Labor force300 million 310 Unemployment rate 6 percent 22.How many people are unemployed in each year? A. B. C. D. 18 million and 18.6 million 160 million and 160 million 131.6 million and 141 million 8.4 million and 9 million 23.How many people are employed in each year? A. 131.6 million and 141 million B. 8.4 million and 9 million C. 18 million and 18.6 million D. 160 million and 160 million Suppose that a very simple economy produces only the following two final goods: hot dogs, and hamburgers. Assume that the base year is 2016, use the information in the table below to answer questions below. 2016 2017 2018 Product Quantity Price Quantity Price Quantity Price Hot dogs4 Hamburgers 2 ?? S3 $4 $2 4 $1 4 $2 2 What is the price index in 2016? 175 100 24. A. B. C. 250

Explanation / Answer

22)

Right answer : (D)

Year 1 : 6 % of 140

                    = 8. 4 Million

Year 2: 6 % of 150

           = 9 Million

23)

Right answer: (A)

Year 1 = 140 – 8.4

            = 131.6

Year 2 = 150 – 9

            = 141 Million

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