Using the economic data below, Which statement is true? Year GDP in Billions GDP Growth Rate Unemployment 1 5,839 -.2 2 5,987 2.5 5,870 -2 6,136 4.3 O Year 2 would be described as an Expansion & a Peak O Year 2 would be described as a Contraction only O Year 2 would be described as a Contraction & a Trough Year 2 would be described as an Expansion only 3. 4.

Net interest is the interest paid out by US households and the government minus the interest income they received. True False

Unemployment Question The small country of Macroland has a population of 100,000 people over the age of 18 and under 65. There are 50,000 people under the age of 18, and 20,000 people over the age of 65. The number of people between ages of 18 and 65 that are looking for jobs is 20,000, and the number that have jobs is 50,000. Using this information, answer the following questions. Show your work. These are numbers for the month of January. а. What is the labor force of Macroland for people between the ages of 18 and 65 in January? b. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? What is the labor force participation rate of Macroland for people between the ages of 18 and 65 in January? с. Now assume there were some changes in February. Of the people between the ages of 18 and 65 in Macroland, about 2000 who were looking for work now dropped out of the labor market, and stop looking for work. In addition, 8000 people who were previously…

Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one cup of coffee, one donut, and one newspaper. In year one, the basket costs $6.00. In year two, the price of the same basket is $7.00. From year one to year two, there is    at an annual rate of    .   In year one, $12.00 will buy    baskets, and in year two, $12.00 will buy    baskets.   This example illustrates that, as the price level rises, the value of money    .

Give typing answer with explanation and conclusion