1. UNDERSTANDING QUESTIONS (30 POINTS) 3935 29 Midterm Exam Macroeconomics: 8812224 Question 1. Economists believe "Rich countries can't take their status for granted; they may be overtaken by poorer but faster-growing countries." Explain this notion with concise examples. (30 points) II. PROBLEM SOLVING Problem 1. In the following table: nominal 210 A. Calculate the current GDP and increasing rate (70 POINTS) 100 170 (20 points) increasing rate B. Using, 2021 as base year, calculate the constant GDP and (20 points) by explaining the differences C. Compare the growth rate between current and constant GDP (10 points) 2021 2022 2023 PLA a P Q P Q Good A Good B R30,000 R50,000 900 250 36 R40,000 1,000 R60,000 1300 R50,000 R70,000 1,200 350 6 +40 3 private Problem 2. Suppose Cambodia's GDP equals KHR300 trillion, consumption private saving, national saving, and investment. equals KHR130 trillion, the government spends KHR40 trillion and N < has a budget deficit of KHR6 trillion. Find public saving, net taxes, (20 points) 23100 79 PA Saving Y-C-G (A) my-1-C = 476 trilhor (P pub saving net tax B X B 341 T-G net taxes 182000099 2021 Faculty of Business Management LIMKOKWING UNIVERSITY OF CREATIVE TECHNOLOGY constant GOP (30000x900) + (50000 x; 3950000 2082, (30000 x 155000000 1000) + 37 2023 (30000