1a. What does GDP measures and is it a good method of measurement? 1b. Is there a difference between GDP and GNP? if yes, what is the main difference? 2. Suppose we have a population of 20 million people and 85% (.85) labor force participation rate and 10% (.10) unemployment rate in Kaifanapolis. How many persons are actually unemployed....show your work 3a. What are economic indicators (definition)? 3b. List two each examples of (a) Leading economic indicators, (b) Coincident economic indicators and (c) Lagging Economic Indicators. 4. Do a web search to find the inflation rate for the State of NJ for 2021 if available or 2020 if 2021 is not yet available and the nation (USA) as a whole? 5. Do another search and fine the unemployment rate for NJ, 2020 and 2021 if currently available. 6. Answer the next two questions based on this info for the Kaifa Cheese Company: kaifa's potential earnings as a salaried worker elsewhere is $50,000, rent is $20,000, wages to workers hired to run the cheese factory is $120,000, utilities and supplies is $8,000, Total Revenue is $380,000, potential economic profit from the next best entrepreneur activity is $80,000 and potential foregone interest on kaifa's personal savings used to finance the business is $5,000 a. what is the accounting profit = $ ___________Policy b. what is the economic profit = $ ___________ 7. Suppose that when producing 10 units of a product, a firm's AVC is $20, its AFC is $10 and MC is $30 what is the firm's TC = (total cost) = $____________ 8. Suppose when Total Product = 0, Total Cost = $550, and when Total Product = 1000, Total Cost = $850, what is the AFC $_____________ and the AVC $__________when TP = 1000 9. If TP = (total output) is 1000 units, the AVC is $5.00 and AFC is $1.00 what is the TC = $_____________ 10a. What is Fiscal Policy? and 10b.What are the two main tools of Fiscal Policy? 11a. What is Monetary Policy? and 11b. What are three main tools of Monetary