answer 1-5 thank you
added on GraderCARA 1. For each of the following statements, decide if the statement is true or false and explain why: A) If workers at a customer service call center in Durham, NC get laid-off because their company has moved the call center to India; this is an example of cyclical unemployment. B) "Full employment" occurs when every working aged individual in the economy is employed. 2. The Consumer Expenditure Survey finds that a typical consumer in the U.S. buys 50 litpes of soda and 80 small pizzas each year. In 2011 a litre of soda cost $1 and a small pizza cost $5. In 2016 a litre of soda cost $1.20 and a small pizza cost $6. A) Using 2011 as the base year, what is the CPI in 2011? B] Using 2011 as the base year, what is the CPI in 2016? C) Calculate inflation between 2011 and 2016. D) If you were making $10/bain 2011, how much would you have to make in 2016 for your purchasing power to remain constant? 3. Canadia a small country between the US and Canada, produces only maple syrup and hot cocoa. A typical household consumes is 10 liters of maple syrup and 20 gallons of hot cocoa per year, and the table below shows Canadia's production of maple syrup and hot cocoa from 2010 through 2012: Maple Syrup Hot Cocoa Quantity Price Quantity Price (liters (gallons 2010 100 $20 200 $5 2011 120 $25 400 $8 2012 130 $35 600 $10 A) Use 2011 as the base year and calculate inflation between 2010 and 2012 using the CPIs for this nation. B) Using 2011 as the base year, calculate inflation between 2010 and 2012 using the GDP deflators for this nation. C) In one sentence or less, explain why these measures of inflation are not necessarily equal. D) The federal government adjusts transfer payments to reflect the cost of living. Which of the measures should the government use to index transfer payments? Why? E) If the federal government was paying the average Social Security recipient in Canadia $500/month in 2010, how much would the government have to pay Social Security recipients in 2012 so that they can afford the same lifestyle as in 2010?4. The table below lists the real GDP/capita (in 2005$) for Australia, Cameroon, and Mexico from 1960-2000. Use this information to calculate the following: Australia Cameroon Mexico 1960 $12,003 $1,900 $4,421 1970 $16,646 $1,874 $6,169 1980 $20,014 $2,798 $9,263 1990 $23,130 $2,710 $8,551 2000 $30,124 $2,446 $10,360 A) Calculate the growth rates in real GDP/capita from 1960-1970, 1970-1980, 1980-1990, and 1990-2000 for each country. B) For each country and decade, use the rule of 70 to figure out how many decades it would take for real GDP/capita to double for halve] at that growth rate. C) Assume the growth rates between 1990 and 2000 were to persist into the future. In what year would real GDP/capita be twice the level it was in 2000 for each country? 5. Draw an Aggregate Production Function for the US. And indicate the current state of the economy at point A. Use the model to explain what would happen to real GDP/capital as a result of each of the following situations: A) The US makes college/trade school tuition free for everyone B) Tesla develops a battery that can power machines using half as much energy and is widely adopted in the US C) US firms increase the number of production facilities by 25% D] A particularly active hurricane season destroys shipping facilities along the Eastern coast of the US
