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Question 2(Multiple Choice Worth 1 points) Assume the CPI increases from 105 to 120 between 2008 and 2009. If a flash drive was $20.00 in 2008 and the real value did not change, how much would it cost in 2009? O$13.33 O $16.67 O $19.04 O $22.85 $35.00Question 10(Multiple Choice Worth 1 points) If the working age population was 279 million of the 320 million people living in the United States and 122 million were employed while 14 million were unemployed, the unemployment rate would be approximately O 11.5%. O 10.2% O 5%. O 4.8%. O 10.29%.Question 11(Multiple Choice Worth 1 points) When describing the four phases of the business cycle, the economy goes from O a trough to recession to expansion and then finally to a peak. O a peak to trough to recession to peak. O a peak to recession to a trough, into expansion and back to a peak. O expansion to recession which ends in a trough. O recession to inflation ending at an expansionary trough.Question 12(Multiple Choice Worth 1 points) The unemployment rate in the United States underestimates true unemployment because O the underground economy is not included in the figures. O part time workers are not included in the figures. O only workers who are structurally unemployed are included in the figures. O discouraged workers are not included in the figures. O only workers who are frictionally and structurally unemployed are included in the figures.Question 13(Multiple Choice Worth 1 points) If the working age population was 252 million of the 330 million people living in the United States and 176 million were employed while 12 million were unemployed, the unemployment rate would be approximately O 6.3%. O 4.5% O 4.7%. 6.8%. 07.4%.Question 14(Multiple Choice Worth 1 points) If the working age population was 252 million of the 330 million people living in the United States and the labor force was 180 million with an unemployment rate of 10%, the number of employed workers would be 18 million workers. O 25.2 million workers. 162 million workers. 226.8 million workers. O297 million workers.Question 15(Multiple Choice Worth 1 points) When describing the business cycle, a peak is immediately followed by O a recovery in the economy. O a contraction in the economy. O an expansion in the economy. O a trough. O a boom.Question 16(Multiple Choice Worth 1 points) If the working age population was 252 million of the 330 million people living in the United States and 176 million were employed while 12 million were unemployed, the size of the labor force would be O 176 million O 188 million. O 252 million. O 264 million. 330 million.Question 17(Multiple Choice Worth 1 points) Which of the following may cause a decline in structural unemployment? I. Unemployment payments decrease. Il. The government provides new job training programs. Ill. Job relocation services are provided. Ol only. Oll only. OilI only. Oil and Ill only. OI, II, and Ill only.Question 18(Multiple Choice Worth 1 points) According to the circular flow diagram, which of the following is true? I. The government is a buyer in the product market. Il. The government is a seller in the product market. Ill. The government is a borrower in financial markets. Ol only. Oil only. O Ill only. OI and Ill only. Oil and Ill only.Question 19(Multiple Choice Worth 1 points) According to the circular flow diagram, which of the following statements is correct? I. The government is a borrower in the financial market Il. Foreign investors purchase US stocks in the financial market Ill. Households borrow money from the financial market Ol only Oil only O Ill only OI and II only Ol and Ill onlyQuestion 3(Multiple Choice Worth 1 points) Which of the following is true regarding unanticipated inflation? 1. Workers are hurt by unanticipated inflation (if wage rates are fixed.) Il. Employers are hurt by unanticipated inflation (if wage rates are fixed.) Ill. Lenders are hurt by unanticipated inflation. IV. Borrowers are hurt by unanticipated inflation. OilI only O I and Ill only Ol and IV only Oil and Ill only Oil and IV onlyQuestion 4(Multiple Choice Worth 1 points) If the nominal interest rate was 16% in 2008 and inflation was 4%, then the real interest rate was O 4%. O 12%. O 20%. O 16%. O 14%.Question 5(Multiple Choice Worth 1 points) Assume the CPI increases from 50 to 75 and a person's nominal income increases from $20,000 to $25,000 over the same period. This person's real income has O increased by 5%. O increased by 10%. O increased by 20%. O remained the same. O decreased by 16.67%.Question 5(Multiple Choice Worth 1 points) Assume the CPI increases from 50 to 75 and a person's nominal income increases from $20,000 to $25,000 over the same period. This person's real income has O increased by 5%. O increased by 10%. O increased by 20%. O remained the same. O decreased by 16.67%.Question 6(Multiple Choice Worth 1 points) If the Producer's Price Index changes from 100 to 90, economists will know that O inflation is decreasing in the economy. O inflation is increasing in the economy. O unemployment is increasing in the economy. O unemployment is decreasing in the economy. O the PPI has no relation to unemployment or inflation.Question 7 (Multiple Choice Worth 1 points) Price Comparisons of Products 2009 2010 Limousine $180 $216 Prom Dress | $270 $324 According to the table above and assuming that limo rental and prom dress purchase constitute the cost of the prom, the rate of prom inflation from 2009 to 2010 was O 10%. O 20%. O 50%. O 66%. O 83%.Question 8(Multiple Choice Worth 1 points) CPI Data Year Index 2006 100 2007 110 2008 120 2009 125 2010 140 According to the table above, if a movie cost $8 in 2006, how much did it cost in 2010? O $8.80 O $9.60 O $10.00 O $11.20 O $15.60Question 9(Multiple Choice Worth 1 points) Which of the following is true regarding unanticipated inflation? I. Banks are helped by unanticipated inflation. Il. Borrowers are helped by unanticipated inflation. Ill. Savers are helped by unanticipated inflation. OI only. Oil only. O ill only. OI and Ill only. Oil and Ill only