Please help with these questions:

1. Average prices in Canukada are 200, real GDP is 30, and the money supply is 500. An increase in the money supply to 600 leads to average prices of

O A. 250

O B. 300

0 C. 220

O D. 240

O E. none of the above answers

2. In Gagaland, real GDP is $160 billion and potential GDP is $200 billion. Gagaland has a(n)

A. inflationary gap of $40 billion.

B. growth rate of 40 percent.

C. growth rate of 20 percent

D. recessionary gap of S40 billion.

E. growth rate of 25 percent.

3. The currency in Tinyland is called the Oscar. In 2015, nominal GDP was 600 Oscars. Real GDP was 500 constant Oscars. The population was 10 persons. The best measure of material well-being for 2015 is

O A. 5,000 constant Oscars per person.

O B. 600 Oscars.

C. 50 constant Oscars per person.

O D. 500 constant Oscars.

O E. 60 constant Oscars per person

4. Economists in Olliestan estimate the natural rate of unemployment is 7 percent. If the of Ficial unemployment rate is 9 percent then

O A. cyclical unemployment is negative

O B. cyclical unemployment is 9 percent

O C. healthy unemployment is 2 percent

O D. real GDP is greater than potential GDP.

O E. real GDP is less than potential GDP.

5. When the price level falls by 20 percent, products that used to cost $600 now cost

O A. $480.

O B. $300.

O C. $500

O D. $580.

O E. $120.

6. When there are part - time workers who wish to work full - time, the official unemployment rate

O A. counts these workers as discouraged.

B. overstates the unemployment problem.

O C. rises when these workers find full - time jobs.

O D. falls when these workers find full - time jobs

O E. understates the unemployment problem.

7. When the price level falls by 20 percent, products that used to cost $600 now cost

O A. $480.

O B. $300.

O C. $500

O D. $580.

O E. $120.

8. Consumer income is $200. If net taxes are $70 and consumers spend $80 on products and services, consumer savings is

O A. $190

O B. - $10

O C. $50.

O D. $10

O E. $120

9. In 2015, the country of Adanac produced 20 kilos of apples and 30 kilos of bananas. Both fruit were used only for final consumption and nothing else was produced. In 2015, a kilo of apples sold for $5 while a kilo of bananas sold for $10. Adanac's nominal GDP in 2015 was

O A. $400.

O B. $65.

O C. $15

O D. $50.

O E. $350

10.When the inflation rate is 3 percent and the nominal interest rate is 5 percent, the real interest rate is

O A. 7 percent.

O B. 8 percent.

O C. 0.6 percent.

O D. 2 percent.

O E. 1.6 percent.

11.If average prices are 2, real GDP is $100 billion, and the quantity of money is $40 billion, what is the velocity of money?

O A.40

O B. 25

O C. 10.0

O D. 5.0

O E. 50.0

12. During the most recent three quarters, real GDP decreased from $200 to $180 to $170. The growth rate between the first quarter and the second quarter was ______percent

O A. +11

O B. -10

O C. -15

O D. -11

O E. +10

13. Andrea pays Ted $900 to build a fence at her home. Ted spends $500 at Home Depot for wood and nails, pays his assistant $100 and keeps the remaining money. Ted's value added is

O A. $500

O B. $900

OC. $400

O D. $300

O E. $100.

14. If the velocity of money is 5, real GDP is 200 and the money supply is 120, what are average prices?

O A. 1.2

O B. 3.0

O C. 12

O D. 0.3

O E. 8.3

15. In a country with a population of 20 million, there are 8 million employed and 4 million unemployed. What is the unemployment rate?

O A. 25 percent

O B. 50 percent

O C. 20 percent

O D. 33.3 percent

O E. none of the above

16. Amazonia's growth rate of real GDP per person is 7 percent. How many years will it take for real GDP per person to double?

O A.10

O B. 7

O C. 143

O D. 35

O E. impossible to calculate without more information

17. In a country with a population of 20 million, there are 9 million employed and 1 million unemployed. What is the labour force (in millions)?

O A. 8

O B. 9

O C. 1

O D. 20

O E.10

18. A country has a working - age population of 30 million, with 18 million employed and 2 million unemployed. 2 million of the employed are working part - time, and half of these persons wish to work full - time. The labour force participation rate is

O A. 63.3 percent.

O B. 11.1 percent.

O C. 60 percent.

O D. 66.7 percent.

O E. 10 percent.

19. The velocity of money is 20, real GDP is 100 and the money supply is 100. According to the quantity theory of money, a 10 percent increase in the money supply causes a

O A. 20 percent increase in average prices.

O B. 10 percent increase in average prices

O C. 10 percent decrease in average prices.

O D. 5 percent decrease in real GDP.

O E. 20 percent decrease in velocity.