4. Using the table below, calculate the economic growth rate for The Philippines in 2023.
Year Nominal GDP Inflation Population Growth
2022 $404.353 B 5.82% 1.46%
2023 $437.146 B 5.98% 1.53%
a. 0.83%
b. -0.01%
c. 0.57%
d. 0.22%
e. 0.60%
5. The Federal Reserve prints $100 B in new money, and the money supply increases by $500 B. What is the reserve ratio?
a. 0.75
b. 0.2
c. 0.25
d. 0.8
e. Not Enough Information Given
6. The current account balance is
a. Ideally equal to zero
b. The total of the balance of payments over time
c. The negative of the capital account balance
d. Ideally the same as the capital account balance
e. The sum of the capital account balance and the balance of payments
7. Sarah recently graduated from the JMU College of Business with a degree in marketing. Sarah is actively looking for her first full-time job. She's receiving offers, but she's taking her time to find a position that aligns with her career goals and interests. Which of the following is Sarah classified as during this period of searching?
a. Not in the Labor Force
b. Structurally Unemployed
c. Frictionally Unemployed
d. Cyclically Unemployed
e. Employed
8. In June 2021, the CPI was 270.664. In June 2022, the CPI was 294.996. What was the rate of inflation in June 2022?
a. -8.25%
b. 8.25%
c. -8.99%
d. 8.99%
e. 24.33%
