1)According to Laffer curve what would be the impact of tax rates on tax revenues?

2)Given an example, calculate the real growth in a year.

3)Given an example, know how a person is measuring the GDP for a year. Hint: Whether this person is using real values or nominal values.

4)What is the impact of bias in CPI calculations?

5)Given an example for CPI index for two years, be able to identify the growth or decline.