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Tutorial
Econ Tutorial
Tracking the Macroeconomy
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What is the money value of goods and services for the simple three-good economy shown above? Hint: Assume all goods are final goods.
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What is the real GDP in 2013 for the simple three-good economy shown above? Hint: Assume all goods are final goods and that 2012 is the base year.
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What is 2013’s nominal GDP for the simple three-good economy shown above? Hint: Assume all goods are final goods.
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What is the gross domestic product as calculated using the expenditure method?
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Given the data in the table above, what is the approximate unemployment rate?
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Good job!
Incorrect! The unemployment rate is defined as the # unemployed/total labor force. In this case the labor force = unemployed + employed = 190,000,000. The unemployment rate is therefore 40,000,000/190,000,000 = 21.05%.
Good job!
Incorrect! The unemployment rate is defined as the # unemployed/total labor force. In this case the labor force = unemployed + employed = 190,000,000. The unemployment rate is therefore 40,000,000/190,000,000 = 21.05%.
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Based on the table above, what is the CPI in 2013?
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Based on the table above, what is the inflation rate in 2013?