A country produces only cars and computers. In year 1, it produces 100 cars at $20,000 each and 50 computers at $1,000 each. In year 2, it produces 110 cars at $21,000 each and 55 computers at $1,100 each. Using year 1 as the base year, what is real GDP in year 2?
Which of the following is counted in U.S. GDP?
In a labor market, 10 million people are employed, 2 million are unemployed and actively looking for work, and 3 million are not in the labor force. What is the unemployment rate?
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Every multiple-choice question, Section 2 with space to write, and the answer key.