Year Bag of Chips Pints of Guacamole Price of aBag of Chips Price of a Pint of Guacamole 2016 (base) 28 15 $1.50 $3.00 2017 32 18 $1.50 $3.20 2018 34 18 $1.70 $3.30 In the table above, total economic production and price data is provided. Suppose that chips and guacamole are the only two final goods produced in this economy. The CPI in 2017 is approximately ____.

Refer to figure above. How much tax per necktie has been imposed by the government?

A price floor set above the equilibrium price _____ a shortage of the good and _____ a deadweight loss.

Real GDP Government Receipts Government Outlays $ 3 trillion $0.3 trillion $1.3 trillion $ 4 trillion $0.6 trillion $1.1 trillion $ 5 trillion $0.9 trillion $0.9 trillion $ 6 trillion $1.2 trillion $0.7 trillion $ 7 trillion $1.5 trillion $0.5 trillion Refer to the table above. When Real GDP equals $6 trillion, there is a government budget _____ of _____.

Joshua lost his full-time job as a dental hygienist three months ago, and he has not been able to find another job in his field. He is very frustrated, but in the meantime, he has taken a part-time job watering plants at a local blackberry farm. Joshua is considered _____, and his situation is an example of how the unemployment rate _____ the problem of joblessness in the economy.

When calculating GDP, we exclude the value of ____ to avoid the problem of ____.

GDP includes ____ investment, which means it ____ the purchase or construction of physical capital that replaces depreciated capital.

The table provides the value of the stock of physical capital at the end of each year! Year Stock of Physical Capital 2015 $112 billion 2016 $117 billion 2017 $120 billion Refer to the table above. Suppose that gross investment was $6 billion during 2017, what was the value of depreciation during 2017?

Labor Market Category Number of People Employed 275,000 Unemployed 25,000 Not in the Labor Force 200,000 Refer to the table above. The value of the labor force participation rate is approximately ____.

The table provides the value of the stock of physical capital at the end of each year! Year Stock of Physical Capital 2015 $112 billion 2016 $117 billion 2017 $120 billion Refer to the table above. Suppose that depreciation was $2 billion during 2016, what was the value of gross investment during 2016?