The top table describes an economy’s labor market and the bottom table describes its production function. What is potential GDP?  

At the end of 2021, a country’s national debt was $750 billion. In 2022, the government spent $150 billion and ended the year with a debt of $795 billion. How much did the government receive in tax revenues in 2022? The government received $_____ billion in tax revenues in 2022.

Sunflowers Inc. paid its workers $8 an hour in 2018 and $9 an hour in 2019. The GDP price index was 252 in 2018 and 257 in 2019. Calculate the real wage rate in each year. Round to two decimals.   The real wage rate in 2018 was $ The real wage rate in 2019 was $

Even when we have full employment, the unemployment can never reach zero. What is the main reason for this?

A simple economy produces two​ goods, Corn Bread and Computer Games. Price and quantity data are as​ follows:     In Year 2, real GDP is equal to:

In the Candyland nation, 18,000 are employed, 2,000 are unemployed, and 5,000 are not in the labor force.   What is the unemployment rate?

The following data were obtained for a region: 26 million people had full-time jobs.Another 10 million people had part-time jobs.3 million people had no work but were available and had looked for work in the past four weeks.15 million people of working age did not have jobs and did not want jobs. What is the size of the labor force?

The table shows an economy’s total production and the prices of the final goods it produced in 2016 and 2018.   The base year is 2016. Calculate real GDP in 2016.   Real GDP in 2016 is $

In terms of calculating GDP, which of the following is a final good, and which is an intermediate good? A            is a final good and            is an intermediate good.    

In terms of calculating GDP, which of the following is a final good, and which is an intermediate good? A            is a final good and            is an intermediate good.