Hmmm ????!?!?!!? If small country is growing 5% faster than large country how many years will take for double real GDP? A. 5 years B. 7 years C. 14 years D. 10 years Shawn will be getting a car loan and will be signing a loan contract he sees that there is a nominal rate of 4.5% and real rate of 2.5% . This means that the bank is expecting the inflation rate of?????? A. 2.5% B. 7% C. 4.5% D. 2% A business cycle recession starts at (n) ____ and ends at ____? A. Trough/peak B. Contraction/trough C. Peak/ trough D. Expansion/contraction Economic growth is a major goal of most governments and economies which of the following will not be lead to economic growth A. Increase in the production of capital goods B. Increased quality of Labor force C. Increase in the production of consumption goods D. Improvements in productive technology If an economy has an increase in productivity and a decrease in business taxes it will cause the AS curve ??? A. To move to the full employment level GDP B. To shift ti the right C. To shift to the left D. To close the recessionary gap Assume there is a country with 22 million working age adults of those are 14 million employed adults 4 million looking for work 1 million people who want to work but have given up looking for a job and 2 million people who are not available to work what is the size of the labor force in this economy A. 14 million B. 18 million C. 22 million D. 10 million When a country is not full employment during a recession it is due to??? A. Many people working only part time but wanting to work full time B. Not enough jobs being available for everyone who wants to work C. Structural unemployment D. Cyclical unemployment What is the unemployment rate for the following country Total population = 450 employed adults 270. Not in labor force 160 unemployed 20 part time workers looking for full time work 10 A. 4.4% B. 2.7% C. 7.8% D. 6.9% When an economy is dissaving the average propensity to consume will be greater than 100% A. False the marginal propensity to consume would be greater than 100 but average would be a constant change B. True dissaving means that saving is greater than the total income C. False savings can never be negative because people can not spend more than their income D. True since consumption will be higher than income the average propensity to consume will be greater than 100% If the CPI is 163 last year and 178 this year the inflation rate this year is ??? A. 6.3% B. 5.1% C. 7.8% D. 9.2%