SCENARIO INTRODUCTION
Use the information provided below to complete the questions. Suppose that data in
tables 1 & 2 correspond to the small nation of Collegeville.
(Table 1) National Income Accounting latest year data
(Table 2) Demographics & Market Basket Data
Consumption of Durable Goods
$900,000
Population
2,900
Consumption of Nondurable Goods
$850,000
16 or younger
581
Compensation of Employees
$765,000
Institutionalized
350
Consumption of Services
$1,230,000
Without a job but not actively looking
490
Fixed Residential Investment
$250,000
Do not have a job, but are actively seeking work
193
Corporate Profits
$130,000
Work Part-Time
351
Fixed Nonresidential Investment
$550,000
Work Full-Time
935
Consumption of Fixed Capital
$70,600
Cost of Basket 2018
$2,540.00
Change in Inventories
$125,000
Cost of Basket 2019
$2,845.00
Government Purchases of Goods and Services
$750,000
Cost of Basket 2020
$3,272.00
Exports
$250,000
Natural Rate of Unemployment
8%
Imports
$60,000