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11-(2 points} Fill in the blank: You take a trip to Brazil and when you get hungry you walk into a McDonalds. A Big Mac
11-(2 points} Fill in the blank: You take a trip to Brazil and when you get hungry you walk into a McDonalds. A Big Mac costs 8 Reais there. You saw at the airport that the official exchange rate is 1 US Dollar = 4 Reais. You recall that just last week you had a Big Mac at home in the US and you paid 3 US Dollars. This suggests to you that the Brazilian real is (over, under, or fairly) valued. 12- (2 points) Last year in Vietnam the official statistics agency published a rate of growth of GDP 9 = 0.06 (ie 6%). It also estimated that the stock of capital great at a rate gK = 0.05. Labor is estimated to have grown at a rate of gL = 0.01. lfthe share of capital in the economy and the rate of labor in the economy are both one half, what is the rate of growth of TFP
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