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7. Use the following data to calculate the nominal change in GDP and the real change in GDP in 2007 for the following countries (4
7. Use the following data to calculate the nominal change in GDP and the real change in GDP in 2007 for the following countries (4 Marks) Country 2014 GDP (Nominal) 2015 GDP (Nominal) Inflation rate France $ 300 million $ 360 million 8% Peru $ 440 million $ 460 million 10% France: Nominal Change = Real Change = Peru: Nominal Change = Real Change=8. Calculate the labour forte participation rate, and unemployment rate for Turkey in 2014 using the following information: [2 Marks) Population: 200 million Population under the age of 14: 50 million Employed Person: 90 million Unemployed persons seeking work: 25 million Unemployed but not seeking work: 35 million 9. The only goods sold in the country of Norway are boots, seal meat and candles. Use the following data to determine the weighted change in price levels (CPI) from 2015 to 2016: (3 Marks} 2015 Price 2016 Price 10. In Finland, total national incomes in 2015 rose from $300 million to S 380 million. Consumption increased from 220 million to 280 million. What is the Marginal Propensity to Consumer. (1 Mark) What was the Marginal Propensity to withdraw in Finland in 2009? (1 Mark) What is Finland's Multiplier Factor? (1 Mark] What effect would an injection ofS 10 million in government spending have on the total Real GDP in Finland? (1 Mar) 9-99"
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