T-Suppose the initial BUS survey (2000), used to measure CPI shows that the CPI basket has 3 Medical and 20 foods. The initial base period prices are. Medical 20 each and food $2 cach. Next suppose that the BLS survey taken in 2011 reveals that the price of Medial cost is $35 and the price of foods is $4. A-Calculate the cost of the CPI basket in 20007 B.Calculate the cost of the CPI basket in 2011? C-Calculate the inflation rate in that period? D-The CPt has four blases that lead it to overstate the inflation rate, Discuss in depth two of the biases? 4- I-(3 POINTS)The Bureau of Labor Statistics reported the following data for 2005: Labor force participation rate: 66 percent Working-age population: 226 million Employment-to-population ratio: 62.7 Calculate the following: A. Labor-force B. Employment C. Unemployment rate- 11- (2 POINTS)Discuss in depth two of the reasons why the true percentage of members of the Labor force who don't have jobs is often worse than the official unemployment rate calculated ? 2.A-Provide a detailed explanation of the difference between real GDP and money GDP. (1 POINT) 2-1-Distinguish between a final good and an intermediate good and provide 2 examples of cach (POINT) 2.C-Explain why real GDP might be an unreliable indicator of the standard of living (Discuss at least 4 reasons).(3 POINTS) 3-The demand curves for all products have negative slopes. For example, the demand curves for automobiles, personal computers, and oranges etc. all have negative slopes. Therefore, one can say that because the aggregate demand curve shows the demand for all products, it also must have a negative slope. Provide a detailed comment on this assertion. Make sure that you fully discuss the reasons for the shape of aggregate demand.