1.)You are given the following information about a country:The rate of change in prices increases while the unemployment rate falls.This is...(a) an upward movement along the Phillips curve;(b) a downward movement along the Phillips curve;(c) a rightward shift of the Phillips curve;(d) a leftward shift of the Phillips curve.(2)Which of the following is the cost of unemployment?(i)tends to give rise to crime,(ii) a decrease in tax revenue,(iii) an increase in government spending....(a) i and ii are correct;(b)only i is correct;(c)ii and iii are correct;(d) all the above. (3) Suppose 30 000 000 people are in the labour force,13 000 000 people are employed in the public sector,10 000 000 people are employed in the private sector.What is the unemployment rate?round to two decimal;(4)Suppose 25 000 000 people are in the labour force,8 000 000 people are employed in the public sector and 5 000 000 people are employed in the private sector.How many people are unemployed?;(5)Economists define economic growth as an...(a) increase of nominal GDP over time;(b) increase of current GDP per capita;(c) increase of real GDP over time;(d) gross domestic product per capita.(6)Which of the following factors does not account for increased unemployment in South Africa...(a) an increase in labour intensity of production;(b) an increase in immigration;(c) an increase in the cost of employing labour;(d) a rapid increase in population growth.(7)Which of the following statements regarding economic growth is correct..(a) Real gross domestic product( GDP) measures the impact of economic growth on population and environmental degradation;(b) with the recent use of high-speed computers,economists are able to measure the size of the informal sector accurately;(c) an increase in real GDP per capita implies that an income is more evenly distributed in the economy;(d) when measuring economic growth,changes in prices and in the population should be taken in account.(8)Which of the following statements regarding policy measures to reduce unemployment is/are correct(i) Additional employment opportunities can be created by increasing automated production of goods and services,(ii) Consumption and investment must be lowered by increasing taxes or interest rates,(iii) The population growth rate must be lowered...(a) i is correct;(b) ii is correct;(c) iii is correct;(d) i and iii are correct;(e) All the statements are correct