1. a) If population 16 or older in Germany is = 70,159,000 and labor force participation rate (LFPR) = 56.43%, what is the size of the labor force?

b) In 2016, there were 7.7 million unemployed and 151.4 million employed workers in United States. Calculate the unemployment rate in 2016.

Show all your calculations for full credit.

1. Use either a shift in demand of supply to GRAPHICALLY represent each of the following situations. Also, label the graphs correctly and indicate the changes in equilibrium in each case.
2. Avocado prices:Reduced water supply in avocado growing regions.
3. Electric car market: Increased gasoline price.
4. SUV market: Increased gasoline prices.
5. Ipad market: Technology improvements reduce the cost of manufacturing.

Four separate graphs please.

1. a) How would economic contraction brought about by Covid - 19 slowdown be represented using production possibilities curve?

b) How does increased productivity affect the production possibilities curve?

One graph for each question.

1. Good Quantity Price in 1999 Price in 2000

X 10 $5 $6

Y 20 $10 $10

Z 5 $6 $10

Assume year 2000 is the base year.

1. Calculate the market basket value for each year. What is the consumer price index in 1999?
2. What is the inflation rate between 1999 and 2000?

Show all calculations for full credit.

1. Explain, using an example, how policies aimed at increased GDP affect:
2. Economic growth.
3. A nation's tax base.