6) What are price indexes designed to measure? Out-line how they are constructed. When GDP andother income figures are compared across time periods, explain why it isimportant to adjust for changes in the general level of prices.
15) The accompanying chart presents 2010 data from the national-income accounts of the UnitedStates.
A) Indicate the various components of GDP when it is derived by the expenditure approach.
B) Indicate the various components of GDP when it is derived by the resource cost-incomeapproach. Calculate GDP using the resource cost-income approach.
5) Is the natural rate of unemployment fixed? Why or why not? How are full employment and the natural rate of unemployment related? Is the actual rate of unemployment currently greater or less than the natural rate of unemployment? Why?
9) What impact will high and variable rates of inflation have on the economy? How willthey influence the risk accompanying long-term contracts and related businessdecisions?
15) The following Table B presents the 2010 population, employment, and unemployment data among working age person for several countries.
A) Calculate the number of people in the laborforce for each country.
B) Calculate the labor force participation ratefor each country, and put the figures in the blanks provided. Which country had the lowest?
C) Calculate the unemployment rate for eachcountry, and put the figures in the blanks provided. Which country had the highest unemploymentrate? Which had the lowest?