Question 1 1 pts Country Y starts with a real GDP of 95.00 and experiences a sustained GDP growth rate of 8 percent. In 8 years, Country Y's GDP will reach approximately 175.84 149.23 O 195.47 O 760.00 Question 2 1 pts Economists typically measure economic growth by tracking the employment rate the rate of return on lending real GDP per capita the unemployment rate Question 3 1 pts Country Z starts with a real GDP of 100.00 and experiences a sustained GDP growth rate of 2 percent. In 72 years, Country Z's GDP will reach approximately 561.65 7200.00 O 424.44 O 416.11Question 4 1 pts Country Alpha and Country Beta initially have the same real GDP per capita. Country Alpha experiences no economic growth, while Country Beta grows at a sustained rate of 15 percent. In 10 years, Country Alpha's GDP will be approximately that of Country Beta. O one-eighth one-fifth one-half one-fourth Question 5 1 pts Country X starts with a real GDP of 222.22 and experiences a sustained GDP growth rate of 22 percent. In 2 years, Country X's GDP will reach approximately O 300.53 O 403.52 O 330.75 O 737.60 Question 6 1 pts Say that the average worker in Denmark has productivity of $55.00 per hour. Over the next 7 years, suppose that worker productivity in Denmark grows at 2.5 percent per year. After the 7-year period, approximately what will productivity be in Denmark? O $47.01O $55.49 O $3.85 O $65.38 Question 7 1 pts Say that the average worker in China has productivity of $90.00 per hour. Over the next 25 years, suppose that worker productivity in China grows at 2 percent per year. After the 25-year period, approximately what will productivity be in China? $133.74 O $147.65 O $94.50 $110.00 Question 8 1 pts Say that the average worker in Canada has productivity of $29.00 per hour. Over the next 6 years, suppose that worker productivity in Canada grows at 1.4 percent per year. After the 6 year period, approximately what will productivity be in Canada? O $47.46 O $234.00 O $42.99 O $42.39 1 pts Question 9 The unemployment rate measuresunemployed workers as a percentage of the population over age sixteen O unemployed workers as a percentage of the labor force O unemployed workers as a percentage of the population the number of people unemployed divided by the number of people employed Question 10 1 pts Gregory looked for work for six weeks but could not find a job to his liking. He now spends his time relaxing at home instead of continuing to look for work. For purposes of measuring employment, Gregory is considered O unemployed out of the labor force underemployed O employed in the underground economy Question 11 1 pts Pat was laid off and has looked for work for two years but has not yet found a job to his liking. However, he continues to look for work on an active basis. For purposes of measuring employment, Pat is considered unemployed underemployed O out of the labor force O employed Question 12 1 ptsIf the number of employed persons in a country equals 24 million, the number of unemployed persons equals 10 million, and the number of persons over age 16 in the population equals 42 million, the unemployment rate equals approximately 57.1% O 23.8% O 29.4% O 41.7% Question 13 1 pts If the unemployment rate is 5.0 percent, then this means 5.0 percent of the population is unemployed 5.0 percent of the population over age sixteen is unemployed the number of unemployed persons is 5.0 times the number of employed persons 5.0 percent of the labor force is unemployed Question 14 1 pts A bus driver who quits her job and moves from Davis to Eureka to try to get a better bus driving job is said to be structurally unemployed cyclically unemployed underemployed frictionally unemployedQuestion 15 1 pts If the number of employed persons in a country equals 300 million, the number of unemployed persons equals 12 million, and the number of persons over age 16 in the population equals 552 million, the unemployment rate equals approximately O 4.0 percent 21.7 percent 54.3 percent O 3.8 percent Question 16 1 pts Cyclical unemployment is known as the type of unemployment that occurs because of the search costs and frictions of finding work a decline in the business cycle, also known as a recession a mismatch between skills that firms demand and the skills that workers have people leaving the labor force Question 17 1 pts In December 2019 the labor force in Canyonland, was 17,777. There were 15,555 persons employed. The local unemployment rate in Canyonland in December 2019 was approximately _ percent. O 8.8 O 12.5 O 18.7O 1.5 Question 18 1 pts Suppose that many people who had previously been actively looking for work suddenly end their job searches. Ceteris paribus, what would happen to the unemployment rate as a result of them ending their job searches? It would decrease. It would increase. It would remain unchanged. It would change in an uncertain way. Question 19 1 pts The unemployment rate may underestimate the true extent of unemployment if O employees increase the number of hours they work overtime there are a large number of people working in the underground economy people are pretending to look for work so that they can continue receiving unemployment benefits many part-time employees would like to work fulltime, but are unable to get the additional work Question 20 1 pts If the unemployment rate is 7.2 percent and the number of persons unemployed is 6.1 million, then the number of people employed is equal to O 78.8 million