help me please
An article in the Economist states that "the appeal of GDP is that it offers, or seems to, a summary statistic of how well an economy is doing." Source: "The Euro-Area Economy: Speeding Up," Economist, May 6, 2017. In what sense does GDP offer a summary statistic of how well an economy is doing? 0 A. GDP can measure happiness among citizensthat is, the more goods an economy produces, the happier its people arethus indicating well-being. O B. Since GDP measures how much an economy produces during a period of time, it may also indicate wellbeing. O G. Since GDP accounts for crime, pollution, and other social problems, it can be used as a rough measure of well-being. O D. GDP is able to provide a summary of the goods and services consumed by a typical person, thus indicating well-being. Suppose the information in the following table is for a simple economy that produces only the following four goods: textbooks, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2007 2016 2017 Product Quantity Price Quantity Price Quantity Price Textbooks 110 $55.00 120 $70.00 120 $75.00 Hamburgers 75 2.00 100 2.00 120 2.25 Shirts 50 30.00 50 25.00 65 25.00 Cotton 120 0.90 1,200 0.75 1,300 0.80 a. If the base year is the year 2007, than real GDP for 2016 equals $|:|. (Round your response to the nearest cent.) What are the problems in measuring the unemployment rate? In what ways does the official Statistics Canada measure of the unemployment rate overstate (understate) the true degree of unemployment? All of the following are problems in measuring the unemployment rate except O A. that people on active military service are included as unemployed. O B. part-time workers are included as employed. O C. that discouraged workers are not included in the labour force. O D. the lack of verification of people's responses in the Labour Force Survey.The employment-population ratio measures the O A. percentage of the working age population that is not employed. 0 B. percentage of the working age population that is employed. 0 C. percentage of the working age population that is in the labor force. 0 D. portion of the total population that is employed. What advice for finding a job would you give someone who is frictionally unemployed? O A. Someone who is frictionally unemployed has to find an employer who needs his/her specific skills in the industry he/she has already worked in. O B. Someone who is frictionally unemployed has to acquire skills necessary to switch industries. O C. Someone who is frictionally unemployed should wait until the recession is over or swich to a part-time job. O D. Someone who is frictionally unemployed need to find another industry to work in.If Parliament eliminated the Employment Insurance system, 0 A. the level of frictional unemployment would increase. 0 B. the level of frictional unemployment would decrease. O C. the level of frictional unemployment would not change at all. 0 D. the level of cyclical unemployment would increase. Use the information in the following table to determine the percentage changes in the US and French real minimum wages between 1957 and 2016. United States France Minimum wage Minimum wage Year (dollars per hour) CPI (euros per hour) CPI 1957 $1.00 27 EO. 19 8 2016 $7.25 240 9.76 106 SOURCES: For 1957: John M. Abowd, Francis Kramarz, Thomas Lemieux, and David N. Margolis, "Minimum Wages and Youth Employment in France and the United States," in D. Blanchflower and R. Freeman, eds., Youth Employment and Joblessness in Advanced Countries, Chicago: University of Chicago Press, 1999, pp. 427-472 (the value for the minimum wage is given in francs; it was converted to euros at a conversion rate of 1 euro = 6.55957 francs); for 2016: U.S. Department of Labor; and U.S. Bureau of Labor Statistics, INSEE Online Data Bank, www.insee.fr. The percentage change in US real minimum wages between 1957 and 2016 is %. (Round your response to two decimal places.)An article in the Economist about Venezuela stated: "The economy is in such an appalling state, and inflation is so high, that Venezuelans greeted a rise of 60% in the minimum wage on May 1st with shrugs of 'so what?'." Source: "It's Up to the Army," Economist, May 6, 2017. What would be a reason why the people of Venezuela would shrug off a rise in the minimum wage of 60 percent? O A. The wage increase would not be enough to offset the redistribution of income that occurred during the hyperinflation. O B. They would not be able to spend the extra money and instead need to hold as much paper money as possible. O C. Even though their wages were increasing by 60 percent, prices were increasing by just as much. O D. With the extra purchasing power from the wage increase, prices would fall and they would experience deflationary conditions.In 1970, the price of a Big Mac was $0.50. Use the information in the table below to nd the price of a Big Mac in 2006 dollars. Year CPI 1970 38.8 2006 201 .6 Source: Bureau of Labor Statistics. Base year = 1962-84. The value of a 1970 Big Mac in 2006 dollars is $|:|. (Round your answer to two decimal places.) Suppose you were borrowing money to buy a car. Consider the following situations. Situation 1: Suppose the interest rate on your car loan is 21.00 percent and the ination rate is 20.00 percent. The real interest rate is |:|%. (Round your response to two decimal places.)
