1) IF a simple economy producing two goods: coffee and TVs. In 2018 the economy produced 2,000 pounds of coffee and 10 TVs. In 2019 the economy produced 1,000 pounds of coffee and 12 TVs. The price of one TV was $1,000 in both years, while the price of coffee decreased from $6 per pound in 2018 to $5 per pound in 2019. According on the info. the percentage change in real GDP in chained prices benchmarked to 2019 is ? percent

2)Which of the following questions would a macroeconomist be most interested in answering?

a. Why do monopolies set higher prices?

b. Why do individuals substitute across goods when prices rise?

c. Why did prices rise in many countries in the 1970s?

d. Why is a single firm's stock price rising

3) In 2017, China's economy was larger than the United States' economy. After apply the correct exchange rates we get:

China GDP = $11.1 trillion

U.S. GDP = $17.7 trillion

Why does it seem like China's GDP is still smaller than the GDP of the United States?

a. The exchange rate was wrong.

b. The initial measure of GDP was wrong in China

c. The initial measure of GDP was wrong in the United States.

d. We need to measure China's GDP in U.S. prices.