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- t (years since 2008) GDP (trillion dollars) 14.67 -14.81 0.25 0.5 0.75 14.84 14.55 14.38 (a) Estimate the relative growth rate (percent per year) at the first four times in the table. NOTE: Round your answers to one decimal place. Relative growth rate at 0 Relative growth rate at 0.25 % Relative growth rate at 0.5 Relative growth rate at 0.75 = (b) Economists often say an economy is in recession if the GDP decreases for two quarters in a row. Was the US in recession in 2008? because The US Choose one Choose one ▼Question 6 (Mandatory) - In 1970, where did China rank in standard of living? 2nd 0 0 0 32nd 92nd 162nd Question 7 (Mandatory) (C In 2015, where did China rank in standard of living? 2nd 32nd 92nd 162nd= GDP (MP) - -- (factor 2) GDP (FC) cost/indirect taxes/depreciation/subsidy)
- Most national governments economic objectives for their national economies. is: --*Raise TWO arguments WITH child labor, and TW0 arguments AGAINST it. (4marks) *Give ONE example of a company that faced claims of child labor and briefly discuss what happened. (1 mark)The following data relate to an emerging African country.Item Value('000) KSHSGNP 8,000,000 Depreciation 100,000Indirect Business Taxes 80,000Gross Investment 400,000Total population 30,000Consumption 10,000Personal Income Taxes 800Excise duty 80Personal Income 89,000Net factor incomes from abroad 200,000 Using the above data, calculate: Net National Product and GNP per capita Net investment and Disposable personal income Gross domestic product
- Labour force 100 million seperation rate 2%/pm job finding 38%/pm (Per month = pm) in steady state how many workers are employed and unemployed, and are more workers losing jobs than those finding new onesFind value added by chair firm if:- Domestic sales of the chair firm = $30000 Exports by firm = $5000 Purchase of firm = $4300QUESTION 46 When trade opens between two countries, the country with higher income will experience higher C: benefit; D: income). B (A: MRT; B: MRS;
- (1j) According to growth accounting studies, investing in research and education does not achieve as much growth as technology improvement would. is less effective than on the job training. is the best way to achieve greater technological progress.(my guess) (1k) When an outcome at the macroeconomic level is different from the outcome at the microeconomic level it is know as a macroeconomic externality. (my guess) cost production microeconomic externality. (1l) Important sources that influence a nation’s economic growth in the long run include a zero rate of population growth. low college graduation rates. a high rate of labor force growth. (my guess) (1m) An economy is considered to be in an expansion if real GDP has increased for two consecutive quarters.(my guess) it is moving from the trough to the peak of the business cycle. it is moving from the peak toward the trough of the business cycle. (1n) The country of Wakanda has an economy that will double in 10 years.…Performance of Key Sectors Exports of manufactured goods surpassed RM1 tril mark for the first time Manufactured Goods Manufactured Goods RM848.84 bil RM1.067 tril 125.6% 123.4% 86.1%* 86.0% EXPORTS IMPORTS RM1.240 tril RM987.24 bil 5.6% 7.9% 5.4% 6.2% Others . • Agriculture Goods RM98.10 bil Others RM4.71 bil Ågriculture Goods RM60.97 bil 个12.3% 136.8% RM24.40 bil Mining Goods RM69.79 bil 158.7% 125.0% Mining Goods 个19.5% RM53.04 bil Note: * share 19.0% 1. ANALYSE THE PERFORMANCE OF THE KEYS SECTORS ABOVE5 major imported product in USA and 5 major exported products in USA Name of major trading partners of (5 major imported product in USA and 5 major exported products in USA) from where they imported