I have asked these question before and unfortunately the agent got them all wrong so if you could just double check to make sure they are correct that would be great. Thanks!

2. Assume the following information for the imaginary country of Lafonia: Total population: 25.0 million Total population 15 years and over: 20.7 million Those 15 years and over that are not in the labour force: 3.2 million Workers with par-time jobs: 1.75 million Workers with full-time jobs: 10.3 million Unemployed members of the labour force: 0.7 million

a) How many people are in Lafonia's labour force?

b) What is Lafonia's unemployment rate?

c) What is Lafonia's labour force participation rate?

3. Suppose that a country's GDP is $1080 billion in 2020 and the GDP deflator is 120. If the reference year is 2012, what is the value of the economy's GDP in 2020 at 2012 prices?

4. Use the table below to answer the following question. Table A Suppose a simple economy produces three goods only. The price and output data for some selected years are shown below. All prices shown are the prices in the specific year shown.

Price Price Quantity Quantity dollars dollars number) number 2002 2010 2002 2010 Pop 0.75 1.10 100 120 Crackers 1.25 2.10 300 280 Cucumbers 2.00 3.00 200 190