Q15. Henry has accepted a new position in the Federal government after working at ball bearing manufacturing plant. He has been put to the task to measure the economic growth as accurately as possible for the nation's last year. What would Henry use in this instance to produce the most accurate growth analysis?

a.GDP Deflator

b.Consumer Price Index

c.Producer Price Index

Q16. A year ago Parker reached his retirement and left the business to pursue other interests. He is now spending lots of time playing golf and visiting his grandchildren. For purposes of employment he is considered:

a.underemployed.

b.out of the labor force.

c.unemployed.

Q17. David's pay last year was $100,000. His pay this year increased to $115,000. The consumer price index increased from 100 to 115 over the same time period. What has happened to David's real income from last year to this year?

a.David's real income decreased.

b.David's real income increased.

c.David's real income is unchanged.