1. Why it makes more sense to use real rather nominal GDP to capture the sector's contribution to the US economy?

A. Because real gdp measures production of final goods and services in current prices

B. Because real gdp incorporates intermediate goods and services, key items in the manufacturing sector

C. Because real gdp measures the value of output, adjusting for inflation or deflation

D. it makes no difference since it is a share measured in %

2. Brazil is the world's largest beef exporter for the past two years. The US and China are the largest beef importers (roughly 16% and 14% of world's beef imports respectively). While the US has been a top producer, consumer and importer of beef during the past 30 years, China only became a major importer earlier in this decade.

In the 2nd half of 2019, beef prices in Brazil increased over 25% becoming a major topic of newspaper articles and social media debates. Select the one answer that could best explain this phenomenon. ?

A, Brazilian real appreciated (R$/USD). Brazilian Beef imports increased. More beef available in the domestic market in the short-run

B. Brazilian real depreciated (R$/USD). Brazilian Beef imports increased. More beef available in the domestic market in the short-run

C. Brazilian real depreciated (R$/USD). Brazilian Beef exports increased. Less beef available in the domestic market in the short-run

D, Brazilian real appreciated (R$/USD). Brazilian Beef exports increased. Less beef available in the domestic market in the short-run