Economic tutor needed for exam

1. Using Rule of 70, how long does it take to grow $200 to be at least $400, at interest rate of 4.75%? (Use at least 1 decimal place)

2. Suppose that a macro variable grew by 0.55% in the month. What is the annualized rate of growth in a year? Please enter your answer as a percent (so if 12.34% then enter “12.34” as the answer).

3. What is the value of $777 after 7 years if it grows at a rate of 7%? (Give answer to 2 decimal places)

4. For the country of Zembla, its CPI in 2018 was 157.83 and in 2019 was 167.43. What was the rate of inflation from 2018 to 2019? Please enter your answer as a percent (so if 12.34% then enter “12.34” as the answer).

5. In Zembla in 2018, Consumption was 460, residential investment was 50, nonresidential investment was 45, there was no change in business inventory, government spending was 60, exports were 80 and imports were 90. What was GDP?

6. A country's nominal GDP grew by 47% over the period 2003-2018. What was the average annual rate over that span (assuming a constant annual rate)? Again please enter your answer as a percent with 2 decimal places.

7. Consider a market that can be represented by a linear demand curve, Qc = 200 – 1.5 Pd, (where Qd is the quantity demanded and Pd is the price that demanders pay) and a linear supply curve that Qs = ½ Ps (where QS is the quantity supplied and PS is the price that suppliers get). What is the equilibrium price? (2 decimals)

8. Consider a market that can be represented by a linear demand curve, Qc = 240 – 1.5 Pd, (where Qd is the quantity demanded and Pd is the price that demanders pay). At a price of 70, what is elasticity of demand at that point? (2 decimals; include the negative sign)

9. In 2018, Wakanda produced 100 quantity of A at a price of 12, 410 quantity of B at a price of 1.5, and 510 quantity of C at a price of 2. In 2019, they produced 110 quantity of A at a price of 12.5, 425 quantity of B at a price of 1.75, and 515 quantity of C at a price of 2 What was the growth rate of nominal GDP from 2018 to 2019. (Again enter as percent)

10. In 2018, Sokovia produced 300 quantity of A at a price of 12, 1230 quantity of B at a price of 1.5, and 1530 quantity of C at a price of 2. In 2019, they produced 330 quantity of A at a price of 12.5, 1275 quantity of B at a price of 1.75, and 1545 quantity of C at a price of 2 What was the growth rate of real GDP from 2018 to 2019. (Again enter as percent)

11. A country can produce 250 of good X and zero of Y, or 210 of good Y and zero of good X (or any linear combination between). What is the opportunity cost of good X per unit of Y? (2 decimal places)