the economy____over the decade with economic growth rates of______percent and ___percent in the 20005-2010 and 2010-2015. The avrage person experianced___ in their standard of living and this may be attributed to ___. Furthermore the ___in the price level and the ___in the real output may be explained by___that led to __in aggragate damand and ____in aggregate supply

Consider a Melanesian island nation in the South Pacific, which had a population of o.8 million in 2005. The table below presents the nominal GDP and the GDP deflator (based 2000 being the base year) for the years 2005, 2010, and 2015. Year 2005 2010 2015 Nominal GDP ($millions) 17500 18222 18755 GDP Deflator 103.7 104.8 105.9 Over each 5-year period, there were no significant changes to government policies or capital investment, and the country experienced a net migration of o%. However, over the first five years (2005 to 2010), the growth rate of births was 12.5% while the growth rate of death was 7.5%. This resulted in a 5% population growth. Over the second five years (2010 to 2015), health care significantly improved such that the growth rate of births increased to 15% while the growth rate of deaths decreased to 5%. 5. Describe the state of the economy over the decade. (16 points) Complete the sentence below by entering one of the following phrases or a numerical value (zero is acceptable) in the blank spaces provided: in the 1st blank space: A = did not change B = grew | C = shrank D = grew then shrank | E = shrank then grew in the end blank space: a numerical value in the 3rd blank space: a numerical value in the 4th blank space: A = no change B=an increase Ca decrease D=an increase then a decrease | E =a decrease then an increase in the 5th blank space: A = no changes B= a change in net migration | C = a change in government policies | D = the change in population | E = the change in nominal GDP in the 6th blank space: A = no change | B = increase | C = decrease | D = increase then decrease | E = decrease then increase in the 7th blank space: A = no change | B = increase | C = decrease | D = increase then decrease | E = decrease then increase in the 8th blank space: A = no changes B = the change in net migration | C = the change in government policies D = the change in population | E = the change in nominal GDP in the oth blank space: A = negligible or no change B = an increase | C = a decrease | D = an increase then a decrease | E = a decrease then an increase in the 10th blank space: A = negligible or no change B = an increase | C = a decrease D= an increase then a decrease E = a decrease then an increase percent and in their The economy over the decade with economic growth rates of standard of living and this may be attributable to . Furthermore, the demand and in aggregate supply. percent in the 5-year periods 2005 - 2010 and 2010 - 2015, respectively. The average person experienced in the real output may be explained by that led to in the price level and the in aggregate Now consider the following additional information for the Melanesian island nation: Year 2005 2010 2015 Employment population ratio (%) 64 65 66 6. Describe the nation's labor productivity over the decade. (10 points) Complete the sentence by entering a numerical value (zero is acceptable) in the blank spaces provided. in the 1st blank space: A = not changed | B = increased | C = decreased | D= increased then decreased | E = decreased then increased in the 2nd, 3rd, and 4th blank spaces: a numerical value The nation's labor productivity has over the decade. In 2005, the real GDP per worker (same as the real GDP per employed) was $ In 2008, the real GDP per worker was $ and in 2018, the real GDP per worker was $ Consider a Melanesian island nation in the South Pacific, which had a population of o.8 million in 2005. The table below presents the nominal GDP and the GDP deflator (based 2000 being the base year) for the years 2005, 2010, and 2015. Year 2005 2010 2015 Nominal GDP ($millions) 17500 18222 18755 GDP Deflator 103.7 104.8 105.9 Over each 5-year period, there were no significant changes to government policies or capital investment, and the country experienced a net migration of o%. However, over the first five years (2005 to 2010), the growth rate of births was 12.5% while the growth rate of death was 7.5%. This resulted in a 5% population growth. Over the second five years (2010 to 2015), health care significantly improved such that the growth rate of births increased to 15% while the growth rate of deaths decreased to 5%. 5. Describe the state of the economy over the decade. (16 points) Complete the sentence below by entering one of the following phrases or a numerical value (zero is acceptable) in the blank spaces provided: in the 1st blank space: A = did not change B = grew | C = shrank D = grew then shrank | E = shrank then grew in the end blank space: a numerical value in the 3rd blank space: a numerical value in the 4th blank space: A = no change B=an increase Ca decrease D=an increase then a decrease | E =a decrease then an increase in the 5th blank space: A = no changes B= a change in net migration | C = a change in government policies | D = the change in population | E = the change in nominal GDP in the 6th blank space: A = no change | B = increase | C = decrease | D = increase then decrease | E = decrease then increase in the 7th blank space: A = no change | B = increase | C = decrease | D = increase then decrease | E = decrease then increase in the 8th blank space: A = no changes B = the change in net migration | C = the change in government policies D = the change in population | E = the change in nominal GDP in the oth blank space: A = negligible or no change B = an increase | C = a decrease | D = an increase then a decrease | E = a decrease then an increase in the 10th blank space: A = negligible or no change B = an increase | C = a decrease D= an increase then a decrease E = a decrease then an increase percent and in their The economy over the decade with economic growth rates of standard of living and this may be attributable to . Furthermore, the demand and in aggregate supply. percent in the 5-year periods 2005 - 2010 and 2010 - 2015, respectively. The average person experienced in the real output may be explained by that led to in the price level and the in aggregate Now consider the following additional information for the Melanesian island nation: Year 2005 2010 2015 Employment population ratio (%) 64 65 66 6. Describe the nation's labor productivity over the decade. (10 points) Complete the sentence by entering a numerical value (zero is acceptable) in the blank spaces provided. in the 1st blank space: A = not changed | B = increased | C = decreased | D= increased then decreased | E = decreased then increased in the 2nd, 3rd, and 4th blank spaces: a numerical value The nation's labor productivity has over the decade. In 2005, the real GDP per worker (same as the real GDP per employed) was $ In 2008, the real GDP per worker was $ and in 2018, the real GDP per worker was $