ECO 372T Wk 2 - Apply: Quiz

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ECO 372T Wk 2 - Apply: Quiz

Assuming the total population is 100 million, the civilian labor force is 50 million, and 45 million workers are employed, the unemployment rate is

Multiple Choice

•      10 percent.
•      5 percent.
•      55 percent.
•      9 percent.
•     

With no inflation, a bank would be willing to lend a business firm $5 million at an annual interest rate of 6 percent. But if the rate of inflation was anticipated to be 5 percent, the bank would most likely charge the firm an annual interest rate of

Multiple Choice

•      11 percent.
•      1 percent.
•      5 percent.
•      6 percent.

With no inflation, a bank would be willing to lend a business firm $5 million at an annual interest rate of 8 percent. But if the rate of inflation was anticipated to be 5 percent, the bank would most likely charge the firm an annual interest rate of

Multiple Choice

•      13 percent.
•      3 percent.
•      5 percent.
•      8 percent.

If the number of worker-hours in an economy is 100 and its labor productivity is $7 of output per worker-hour, the economy's real GDP

Multiple Choice

•      is $700.
•      is $13.
•      is $7,000.
•      cannot be calculated.

A nation's real GDP was $250 billion in Year 1 and $258 billion in Year 2. Its population was 120 million in Year 1 and 125 million in Year 2. What is its real GDP per capita in Year 2?

Multiple Choice

•      $2,064 per person
•      $206 per person
•      $20,640 per person
•      $133 per person

A nation's real GDP was $250 billion in Year 1 and $260 billion in Year 2. Its population was 120 million in Year 1 and 100 million in Year 2. What is its real GDP per capita in Year 2?

Multiple Choice

•      $2,600 per person
•      $260 per person
•      $26,000 per person