Suppose reported (nominal) GDP rises from $21,000 billion to $22,500 billion in the next year, which...
Suppose reported (nominal) GDP rises from $21,000 billion to $22,500 billion in the next year, which the nation's price index (GDP deflator) increases from 110 to 115. Then real GDP will have increased by (choose closest number).
A. 2.5 percent
B. 3.2 percent
C. 3.9 percent
D. 7.1 percent
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Suppose reported (nominal) GDP rises from $21,000 billion to
$22,500 billion in the next year, which...
13 A country reported a nominal GDP of $115 billion in 2015 and $125 billion in...
13 A country reported a nominal GDP of $115 billion in 2015 and $125 billion in 2014 and reported a GDP deflator of 85 in 2015 and 100 in 2014. What happened to real output and prices from 2014 to 2015? a. Real output and prices both rose. b. Real output fell and prices rose. c. Real output rose and prices fell. d. Real output and prices both fell. 14. A country reported a nominal GDP of $85 billion in...
Suppose nominal GDP grows from $10 billion in 1990 to $14 billion in 2000, while population...
Suppose nominal GDP grows from $10 billion in 1990 to $14 billion in 2000, while population grows from 4.0 to 4.4 million and the price index in 1995 dollars increases from 95 to 105. The average annual growth rate of real per-capita GDP is
Suppose nominal GDP grows from $10 billion in 1990 to $14 billion in 2000, while population...
Suppose nominal GDP grows from $10 billion in 1990 to $14 billion in 2000, while population grows from 4.0 to 4.4 million and the price index in 1995 dollars increases from 95 to 105. The average annual growth rate of real per-capita GDP is a.) 15.2%. b.) 3.4%. c.) 2.4%. d.) 1.4%. c.) 1.0%.
suppose u.s. nominal GDP increases from one year to the next. increases from one year to...
suppose u.s. nominal GDP increases from one year to the next.
increases from one year to the u.s. nominal GDP suppose Next. a.s. that Production of True goods or false & services we can conclude increased..? A true, because Prices have increased as well from one year to next. e True, because Prices have decreased from one year to the next. c false, because we do not know whether Prices have changed. & False, because prices have decreased from one...
Suppose that this year's money supply is $500 billion, nominal GDP is $10 trillion and real...
Suppose that this year's money supply is $500 billion, nominal GDP is $10 trillion and real GDP is $5 trillion. a. What is the price level? b. What is the velocity of money? (Please calculate your answers in billions, i.e. leave off the zeros (0) if necessary.) c. Suppose that velocity is constant and the economy's output of goods and services rises by five percent each year. What will happen to nominal GDP and the price level next year if the Fed...
The following data show nominal GDP and the appropriate price index for several years. All GDP...
The following data show nominal GDP and the appropriate price index for several years. All GDP are in billions. Use for questions 16 and 17. Nominal Price Year GDP level Real GDP index $117 124 143 149 96 178 112 220 143 **hint: only need Real GDP for years 1,5 and 6 16. The change in GDP from Year 1 to Year 6 is: a. Increase $56 billion b. Increase $46 billion c. Decrease $56 billion d. Decrease $46 billion...
1. suppose that the nominal GDP in Germany was 560 billion euros in 2011 but grew...
1. suppose that the nominal GDP in Germany was 560 billion euros in 2011 but grew to 588 billion euros in 2012. in these years the German CPI increased from 210.0 to 214.2. use these data to calculate the % change in the real German GDP between 2011 and 2012.
Suppose that this years money supply is $500 billion, nominal GDP is $6 trillion, and real...
Suppose that this years money supply is $500 billion, nominal GDP is $6 trillion, and real GDP is $2 trillion. a. What is the price level? What is the velocity of money? b. Suppose that velocity is constant and the economy's output of goods and services rises by 3% each year. What will happen to nominal GDP and the price level next year if the Fed keeps the money supply constant? c. What money supply should the Fed set next...
Question 1 1 pts Suppose that nominal GDP increased in Econland from $10 Billion to $12...
Question 1 1 pts Suppose that nominal GDP increased in Econland from $10 Billion to $12 Billion (what is that percentage change? You will need to figure that out to answer the rest of the question!) The inflation rate in Econland during this time was 5% What happened to Real GDP Growth in Econland? (give the BEST answer) It grew by 15% It grew by 50% It grew by 25% It grew by 2%
13) suppose that Sally's nominal wage rises from $1,000 per week to $1,400 per week. If...
13) suppose that Sally's nominal wage rises from $1,000 per week to $1,400 per week. If at the same time average prices rise 40%, how much will her real income increase? A) $400 per week B) 40%. C) $200 per week. D) 0%. 14) Suppose nominal GDP increases from $400 billion to $800 billion. If at the same time average prices double, then how much did real GDP increase? A) $0 B) $200 billion. C) $400 billion. D) $800 billion....
13 A country reported a nominal GDP of $115 billion in 2015 and $125 billion in 2014 and reported a GDP deflator of 85 in 2015 and 100 in 2014. What happened to real output and prices from 2014 to 2015? a. Real output and prices both rose. b. Real output fell and prices rose. c. Real output rose and prices fell. d. Real output and prices both fell. 14. A country reported a nominal GDP of $85 billion in...
suppose u.s. nominal GDP increases from one year to the next.
increases from one year to the u.s. nominal GDP suppose Next. a.s. that Production of True goods or false & services we can conclude increased..? A true, because Prices have increased as well from one year to next. e True, because Prices have decreased from one year to the next. c false, because we do not know whether Prices have changed. & False, because prices have decreased from one...
The following data show nominal GDP and the appropriate price index for several years. All GDP are in billions. Use for questions 16 and 17. Nominal Price Year GDP level Real GDP index $117 124 143 149 96 178 112 220 143 **hint: only need Real GDP for years 1,5 and 6 16. The change in GDP from Year 1 to Year 6 is: a. Increase $56 billion b. Increase $46 billion c. Decrease $56 billion d. Decrease $46 billion...
Question 1 1 pts Suppose that nominal GDP increased in Econland from $10 Billion to $12 Billion (what is that percentage change? You will need to figure that out to answer the rest of the question!) The inflation rate in Econland during this time was 5% What happened to Real GDP Growth in Econland? (give the BEST answer) It grew by 15% It grew by 50% It grew by 25% It grew by 2%
13) suppose that Sally's nominal wage rises from $1,000 per week to $1,400 per week. If at the same time average prices rise 40%, how much will her real income increase? A) $400 per week B) 40%. C) $200 per week. D) 0%. 14) Suppose nominal GDP increases from $400 billion to $800 billion. If at the same time average prices double, then how much did real GDP increase? A) $0 B) $200 billion. C) $400 billion. D) $800 billion....
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