In 2011, the imaginary nation of Maconia had a population of 8,200 and real GDP of 210,500 . Maconia had 5% growth in real GDP per person. In 2012 it had a population of 8,400 . To the nearest dollar what was real GDP in Maconia in 2012?

Which of the following are examples of goods that have been subject to voluntary export restraints?

A) Japanese cars and Chinese solar panels B) Belgian chocolates and French wines C) French wines and cheeses D) Japanese sushi and German cars E) Taiwanese electronics and Canadian barley

Which of the following can help to explain why higher inflation may lead to currency appreciations?

A) The interest rate is not the prime target of monetary policy. B) Most central banks adjust their policy interest rates expressly so as to keep inflation in check. C) Central banks increase the money supply leading to overshooting of the exchange rate. D) Inflation will increase the purchasing power of a currency. E) The world market does not adjust their currency trade to reflect inflation.