09 Jul Macroeconomic questions
Question Description
1) In 2011, the value of the GDP deflator is ___ ? (Enter your response rounded to the nearest whole number.)
2011
2012
Nominal GDP
$13,195 billion
$13,841 billion
Real GDP
$11,319 billion
$11,567 billion
2) In a closed economy, the values for GDP, consumption spending, investment spending, transfer payments, and taxes are as follows:
Y =
$12 trillion
C =
$9 trillion
I =
$3 trillion
TR =
$2 trillion
T =
$3 trillion
Using the information above, what is the value of private saving and public saving?
A.
Private saving equals $9 trillion and public saving equals $3 trillion.
B.
Private saving equals $1 trillion and public saving equals $2 trillion.
C.
Private saving equals $3 trillion and public saving equals $9 trillion.
D.
Private saving equals $2 trillion and public saving equals $1 trillion.
3) The labor force participation rate
is the percentage of the working-age population in the labor force.
Suppose an economy is given by:
Population = 208 million
Working-age population = 115 million
Labor force = 75 million
The number of people employed = 69 million
The number of people unemployed = 6 million
The labor force participation rate for this economy is ____ %.
(Enter your response rounded to one decimal place.)
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