Problem 9.1 What issues of definition arise in trying to measure ‘output’? Problem 9.2 What issues of definition arise in trying to measure ‘unemployment’? Problem 9.3 Find the gross domestic product...

Problem 9.1 What issues of definition arise in trying to measure ‘output’?

Problem 9.2 What issues of definition arise in trying to measure ‘unemployment’?

Problem 9.3 Find the gross domestic product for both the UK and the US for the period 1995–2003.

Obtain both series in constant prices.

Problem 9.4 Find figures for the monetary aggregate M0 for the years 1995–2003 in the UK, in nominal terms.

Problem 9.5 A firm wishes to know the average weekly expenditure on food by households to within £2, with 95% confidence. If the variance of food expenditure is thought to be about 400, what sample size does the firm need to achieve its aim?

Problem 9.6 A firm has £10 000 to spend on a survey. It wishes to know the average expenditure on gas by businesses to within £30 with 99% confidence. The variance of expenditure is believed to be about 40 000. The survey costs £7000 to set up and then £15 to survey each firm. Can the firm achieve its aim with the budget available?