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If actual GDP is 510 and there is a negative GDP gap of 10, what is potential GDP?

The value of which of the following would be included in U.S. GDP? Check all that apply. 

What is true about net exports?

Last year, a knitter made and sold 50 winter hats for $10 each. This year, the knitter also sold 50 hats but received $12 each. What can we say if this was the only good in the economy?

Given the information in this table, what is national income? Exam 3 What is national income 422.PNG 

What do we know about the relationship between gross output and gross domestic product?

Given the information in this table, what is net domestic product? Exam 3 What is net domestic product 400.PNG 

One year the CPI was 300 and the next year, the CPI was 320. What was the inflation rate in percentage? Indicate to the nearest tenth of a percent (e.g., 10.2). 

Which of the following would be considered frictional unemployment?

The parks district wants to put up a new playground in the local park in a three-family town. The marginal benefit for Jim would be $500; the marginal benefit for Jake would be $200. The marginal benefit for Connor, who has six children, would be $2,000. The total cost of putting in the swing set is $1,400 and each family needs to pay an equal amount. With no vote trading allowed, how many families would vote for this playground?