problems ch7

# problems ch7 - Question 1 1 out of 1 points 1 Given the...

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Question 1 1 out of 1 points 1. Given the hypothetical data in the table below, calculate the annual rates of growth in real GDP and real per capita GDP over the period given. The numbers for real GDP are in billions. Note: Enter only the numbers in the blanks, not the percent sign. Carry out calculations to one significant digit, e.g. 7.9 (for 7.91%).

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Year Real GDP Annual growth in % Real GDP per capita Annual growth in % 1 \$2,416 \$11,785 2 2,472 [a] 11,950 [f] 3 2,563 [b] 12,213 [g] 4 2,632 [c] 12,421 [h] 5 2,724 [d] 12,719 [i] 6 2,850 [e] 12,948 [j]

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Question 2 0 out of 1 points

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2. Suppose the real GDP and the population of an economy in seven different years were those shown in the following table. Year Populati on, million RealGD P, billion \$ Per capita real GDP 1 30 \$9 \$300 2 60 24 [a] 3 90 45 [b] 4 120 66 [c] 5 150 90 [d] 6 180 99 [e] 7 210 105 [f]

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Question 3 0 out of 1 points 3 (Part 1). The following table gives statistics on the labor force and total employment during year 1 and year 5. Make the computations necessary to complete the table. (Numbers of persons are in thousands.) Year 1 Year 5 Labor force 84,889 95,453 Employed 80,796 87,524 Unemployed [a] [c] Unemployment rate [b] [d]

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## This note was uploaded on 09/10/2009 for the course ECO 2251 taught by Professor Kirkland during the Spring '09 term at Troy.

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problems ch7 - Question 1 1 out of 1 points 1 Given the...

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