Eco likes Maths

Setting 2018 as the base year, in 2018 GDP was 108.2.bn and is 123.7.bn in 2020. Calculate the index number for 2020

• 114.3

• 87.5

• 14.3

• 102.9

If output per worker was 32 and now it is 41. What is the % increase in productivity?

• 18.4

• 128.1

• 17

• 28.1

If my real income is now $40,000 after receiving a 10% raise, what was my income before my raise?

• $36,000

• $36,363

• $37,000

• $37,159

How much did this subsidy cost the tax payer?

• 600

• 840

• 1400

• 3000

If MPC = 0.45, what would be the size of the multiplier effect?

• 1.82

• 2.22

• 0.55

• 1

If the MPM = 0.1, MPS = 0.1 and MPT = 0.2 and an injection of $130.m occurs. Would be the total impact of that injection after the multiplier effect?

• $216.7.m

• $325.m

• $52.m

• $195.m

If a country moved from point A to B to strengthen their military, what would the opportunity cost for Health car?

• 70

• 80

• 150

• 210

What is true from looking at this graph?

• Prices were highest as we reached the 1980s

• Around 1985 prices fell sharply

• All prices rose each year

• Early 1990's saw disinflation