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Economics

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1.At the beginning of a year, decision makers expect the general level of prices to increase at a 3 percent annual rate. The CPI increases from 150 to 154.5 during the year, this is an example of a. an inflation rate that is equal to 4.5 percent. b. an unanticipated increase in the general level of prices. c. an increase in the general level of prices that was accurately anticipated, d, an inflation rate that is less than what people anticipated.

2.Which of the following would be included in the government consumption and investment component of GDP? a. the export of 100 fighter jets to Japan b. construction costs of a new public school building c. food stamps used by the Smith family d. a $1,000 check issued by the federal government as part of the Pell Grant program to help college students pay for school