Macroeconomics* Please check my answers*

If real GDP per capita grows at a rate of 5% per year consistently over time, how many years would it take for it to double in size?
5
10 My answer
14
70

The purpose of indexing Social Security payments to the CPI is to ______.

increase corporate profits

justify continued government funding of the Bureau of Labor Statistics

avoid the privatization of Social Security (my answer)

maintain the purchasing power of retirees

37. Economists frequently use GDP per capita to better reflect ______.

the impact of prices on GDP

differences in living standards across countries

people who are employed

people who are both employed and unemployed (my answer)

38. During a recession ______.
unemployment and the growth rate of real GDP both decrease

unemployment decreases and the growth rate of real GDP increases

unemployment increases and the growth rate of real GDP decreases

there is no relationship between unemployment and the growth rate of real GDP

Not sure about this one

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  1. 1. Let' see if your answer works for a country with an initial GDP of $50,000
    50,000 * 1.05 = 52,500
    52,500 * 1.05 = 55,125
    55,125 * 1.05 = 57,881.25
    Year 4: 60,775.31
    Year 5: 63814,08
    Will it reach 100,000 in ten years?

    The next two are wrong.

    38. Go back and check your book and then post your answer.

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