## Transcribed Text

Suppose that you are given the following information:
Total Population
300 million
Adult, noninstitutionalized, nonmilitary population
298 million
Unemployed adults
8 million
a. If the labor force participation rate is 69.0%, calculate the size of the labor force
million. (Enter your response rounded to one decimal place.)
Consider the following table:
Nominal GDP
Real GDP
(billions of dollars per
Price Index
Year
(billions of dollars per year,
year)
(base year 2000)
in constant 2000 dollars)
2000
9817.0
100.000
9817.0
2003
10,971.2
106.305
10,320.6
2006
13,306.3
116.070
11,464.0
Change the base year to 2006 in the above problem.
a. Recalculate the price index for years 2000, 2003 and 2006.
b. Recalculate the real GDP for the years 2000, 2003, 2006.
Real GDP
Price Index
(billions of dollars per year,
Year
(base year 2006)
in constant 2006 dollars)
2000
2003
2006
adjustments. Consider the following hypothetical data for the U.S. economy in 2018 (in trillions of dollars), and assume that there are no statistical discrepancies or ot
Category
Value
Category
Value
Profits
$2.8
Exports
$1.4
Indirect business taxes and transfers
0.9
Government transfer payments
2.1
Rent
0.9
Personal income taxes and nontax payments
1.7
Interest
0.9
Imports
1.8
Wages
8.1
Corporate taxes and retained earnings
0.4
Depreciation
1.5
Social security contributions
1.8
Consumption
13.5
Government spending
1.9
a. Calculate the gross domestic income. $
trillion. (Enter your response rounded to one decimal place.)
Calculate GDP $
trillion. (Enter your response rounded to one decimal place.)

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GDI is calculated as Interest +wages+ rent+ profits+ statistical adjustments

Statistical adjustments may include corporate income tax, dividends and undistributed profits.

GDI = 0.9+0.9+8.1+2.8...