After seizing the car, the police returned to apartment 103 and arrested the occupant, Kimberly Thompson, who is not a party to this appeal. A search of the apartment pursuant to a warrant revealed cocaine residue on the kitchen table and plastic baggies similar to those found in the Cadillac. Thielen identified Carter, Johns, and Thompson as the three people he had observed placing the powder into baggies. The police later learned that while Thompson was the lessee of the apartment, Carter and Johns lived in Chicago and had come to the apartment for the sole purpose of packaging the cocaine. Carter and Johns had never been to the apartment before and were only in the apartment for approximately 2^[1]20442 hours. In return for the use of the apartment, Carter and Johns had given Thompson one-eighth of an ounce of the cocaine.

11) What is MACRO-economics?

12) With what kinds of topics does macroeconomics concern itself?

13) Outline the difference between positive and normative questions?

14) Which of the following is an example of a normative question?

15) Define output and income.

16) Which of the following best describes the precautionary principle?

17) Define unemployment and how it is expressed in most countries.

18) How is labor productivity defined?

19) Define inflation and deflation? And what causes it?

20) What % of inflation constitutes hyperinflation?