4. Fill in the following blanks. No need to show calculation steps. (2 points each, 10 points in total.) a) Below shows
Posted: Wed Jul 06, 2022 6:33 pm
4. Fill in the following blanks. No need to show calculation steps. (2 points each, 10 points in total.)
a) Below shows the information of national income account for an economy in 2021 dollar values ($ billions):
Government purchases 45, Exports 24, Taxes 25, Investment 31, Imports 15, Consumption 95. Based on the given
information, the nominal GDP of 2021 is $
billion.
b) Suppose the working-age population = 1200, employment = 700, and the people not in labour force = 400. The
The unemployment rate =
%.
unemployment =
c) Currently all commercial banks have desired reserve ratio of 5%. One day Jane opens a chequing account with TD
After the whole
bank and deposits $100 in her account. Immediately TD bank has excess reserve of $
of deposits can be generated.
banking system finishes the money creation process, at most a total of $
a) Below shows the information of national income account for an economy in 2021 dollar values ($ billions):
Government purchases 45, Exports 24, Taxes 25, Investment 31, Imports 15, Consumption 95. Based on the given
information, the nominal GDP of 2021 is $
billion.
b) Suppose the working-age population = 1200, employment = 700, and the people not in labour force = 400. The
The unemployment rate =
%.
unemployment =
c) Currently all commercial banks have desired reserve ratio of 5%. One day Jane opens a chequing account with TD
After the whole
bank and deposits $100 in her account. Immediately TD bank has excess reserve of $
of deposits can be generated.
banking system finishes the money creation process, at most a total of $