5. Terana's nominal GDP rose from $200 billion in 2016 to S224 billion in 2017. During the

same period. the inflation rate was 7 percent. (Calculate answers to one decimal place.)

a) By what percentage did nominal GDP increase between 2016 and 2017? ___ _

b) By what percentage did real GDP increase between 2016 and 20 17? ___ _

6. The information in Table 4.13 is for the economy of Mensk

TABLE 4.13

Working-age population.................................................................20.0

Number of people in full-time employment...........................11.5

Number of people in part-time employment.........................2.0

Number of people unemployed...................................................1.5

Number of discouraged workers................................................1.5

a) What is the unemployment rate? ___ _

b) What is the participation rate? ___ _

7. Table 4.14 shows national data (in billions of dollars) for the economy of Westfall. Answer the questions to one decimal point.

2015 2016 2017

Nominal GDP ($) 850 958 --

GDP deflator (2010 = 100) 109 -- 118

Real GDP -- 833 --

Population (millions) 30 -- 31

Real GDP per capita -- 27, 311 28, 390

a) Fill in the blanks in the table.

b) What is the inflation rate in 2016? ___ _

c) What is the growth rate of real GDP per capita in 2017? ----