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Hi, here are the questions, thank you! 4. Country A and Country B are exactly the same except for a couple of facts: (i) Country

Hi, here are the questions, thank you!

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4. Country A and Country B are exactly the same except for a couple of facts: (i) Country A has more people than Country B. (ii) Country B has higher percentage of people working in production of ideas. According to the Romer model, which country has the greatest probability of having a larger long run growth rate? a) Country A b) Country B c) They are the same d) Insufcient information 5. Suppose a college student earns $70,000 per year after graduating and works for 45 years. The interest rate is 2%. What is the present discounted value of their life-time earnings (assuming no growth in wages)? a) $0.1 million b) $0.4 million c) $2.1 million d) $1.8 million e) $23 million 6. In April 2021, the size of US total civilian population (over age 16) was 261 million. Of this population, 151.18 million were employed, 9.8 million were unemployed, and the remainder of the population was not in the labor force. The employment-population rate and the labor force participation rate (dened as total labor force divided by civilian population over age of 16) in April 2021 were a) 57.90% and 61.50% respectively b) 57.70% and 61.70% respectively c) 57.90% and 61.70% respectively d) 57.70% and 61.50% respectively

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