Question 7: A nation's real GDP per capita increased from $250 billion to $275 billion in one year. Calculate the nation's growth rate.
Question 8: Thanos is looking to borrow money from a bank. He is told that the nominal interest rate is 8%; that includes expected inflation of 5% and a real interest rate of 3%. If there is unexpectedly high inflation over the term of the loan, will Thanos be hurt, or will the bank be hurt? Explain your answer.
Question 9: How is it possible for the unemployment rate to overstate the true level of unemployment?
Question 10: Provide a definition of the following macroeconomic indicators: Gross Domestic Product (GDP), GDP per capita, inflation, unemployment, Consumer Price Index (CPI), Producer Price Index (PPI).