A In 2020, it was estimated that the US had 140.8M Housing Units. The homeownership ratein the US is 65.6%. The average monthly rent in the US is $1,098 while the average homeprice is $284,600. The rent to value ratio in the US is 6.26%. Americans spent $325B onhome maintenance costs. If GDP is $22T, housing services makes up what percentage ofGDP?a) 12.6%b) 8.9%c) 14.5%d) 5.7%7) There were around 45 billion credit card transactions in 2019 totaling $3.64 trillion. Surveysshow that 44% of credit card holders pay off their full balance every month (are not financingtheir purchases). Further, merchants pay processing fees of around 2% of the transaction andconsumers pay $120B in annual fees. We have the following interest rate information.Interest RateAverage Credit Card Rate3 Month Treasury14.5%0.35%The contribution of credit cards to Gross Output for the US is:a) $707.9Bb) $192.8Bc) $481.2Bd) $120B8) Consider the following information for prices in France (denominated in Euro) relative toprices in the US (denominated in dollars)Traded Goods (60% of GDP).375Non-Traded Goods (60% of GDP)Overall1.25.90The current exchange rate is .90 Euros per dollar. According to the logic of PPP, the Euro iscurrentlya) Fairly valuedb) Undervaluedc) Overvaluedd) More information is needed to assess the value of the Euro9) Using the logic of PPP, we fund that a vast majority of countries have “undervalued"currencies. This is becausea) The dollar is in such high demand that currency markets overvalue the dollar (hence,undervalue all other currencies)b) Currency markets have insufficient information to fairly value most currenciesc) Non-traded goods are cheaper in countries that are poor relative to the USd) None of the above

Given: House units = 140.8B House ownership rate = 65.6% Average monthly rent = $1098 Average home…

O In 2020, it was estimated that the US had 140.8M Housing Units. The homeownership rate in the US is 65.6%. The average monthly rent in the US is $1,098 while the average home price is $284,600. The rent to value ratio in the US is 6.26%. Americans spent $325B on home maintenance costs. If GDP is $22T, housing services makes up what percentage of GDP? a) 12.6% b) 8.9% c) 14.5% d) 5.7%