Part B: Fill in the Blanks ( 1 Marl: each = 15 Marks) 1. Identify what each of the following letters represent in the formula: GDP=C+ |+G +(X-IM] Where: . Assume that the country of Chile has exports in 2006 of S 220 million and imports of S 320 million. The aggregate Marginal Propensity to consume in 2006 was 0.80. a. What is the MPW? b. What is the Multiplier factor? c. Considering the multiplier factor, how much should the government increase government spending on infrastructure to offset the effect of the balance of trade decit? . France has a natural unemployment rate of 6%. In 2004 France's actual unemployment rate was 9.5%. France's GDP in 2004 was 5 820 billion. Apply Okun's law, determine what the lost GDP in France due to unemployment is equal to? . One worker in the Niagara region is able to produce either 3 vats of wine in one month or 18 shirts. What is opportunity cost of producing one vate of Wine is . An event which could cause shift right in the demand curve for smart phones is: and An event which could cause a shift to the left in the demand curve would be: .An event which could muse a shift in supply would be