Homework Answers
Before 2000, Nominal GDP was less than Real GDP and the observation is reversed after 2000. Price index is also less than 100 before 2000 for the same reason. However, both have increased throughout as seen by the positive slope of both lines. It is noted however, that since Nominal GDP was greater than Real GDP after 2000, it must have been deflated (reduced) to get real GDP
Select second option.
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QUESTION 14 Nominal GDP Real GDP Time 0 Refer to the diagram. Which of the following...
22) Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP 1975 1985 1990 2005...
22) Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP 1975 1985 1990 2005 2015 $1,688.9 Billion $4,346.7 Billion $5,277.4 Billion $13,093 Billion $17,947 Billion 36.2 51.1 59.7 93.4 109.9 $4,665.5 $8,506.3 $8,839.9 $?????? $16,330.3 Using 2007 as the Base Year with the Price Index that year at 100, the Real GDP for 2005 would be calculated to be: A) $11,914 B) $13,093 $14,018 $15,271
Year 2000 2005 Nominal GDP (billions) $600 $1,100 GDP deflator 100 125 Refer to Table 7-12....
Year 2000 2005 Nominal GDP (billions) $600 $1,100 GDP deflator 100 125 Refer to Table 7-12. Measured in terms of 2000 prices, real GDP in 2005 was 900 750. 880 1,333.
Question 21 (3 points) To convert Nominal GDP to Real GDP, we must use which one...
Question 21 (3 points) To convert Nominal GDP to Real GDP, we must use which one of the following formulas? O Real GDP = Nominal GDP / 100 Real GDP = Nominal GDP GDP Deflator O Real GDP = Nominal GDP 100 Real GDP = (100 * Nominal GDP)/ GDP Deflator O Real GDP = GDP Deflator / Nominal GDP
Question 6 (3 points) To convert Nominal GDP to Real GDP, we must use which one...
Question 6 (3 points) To convert Nominal GDP to Real GDP, we must use which one of the following formulas? Real GDP = GDP Deflator / Nominal GDP Real GDP = Nominal GDP 100 Real GDP = (100 * Nominal GDP)/ GDP Deflator Real GDP = Nominal GDP * GDP Deflator Real GDP = Nominal GDP / 100 Previous Page Next Page Page 6 of 30
(3) Fill in the missing numbers. Show your computations. (4) (2) GDP Price Nominal GDP, Real...
(3) Fill in the missing numbers. Show your computations. (4) (2) GDP Price Nominal GDP, Real GDP, Index Year Billions Billions (2009 = 100) 1995 $ 7,664.0 $10,167.3 2000 10,289.7 81.9 2005 13,095.4 14,235.6 92.0 2009 14,417.9 100.0 2010 14,958.3 14,779.4 101.2 2015 17.947.0 16,348.9 109.8
6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5...
6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5 Year 1960 1970 1980 1990 1995 2000 2003 81.6 5165.7 7112.5 8032.2 7397.7 9817.0 11004.1 100.0 106.0 7. The nominal salary paid to the President of the United States along with the data for the CPI are given for various years below. Year 1920 1940 1960 1980 2000 Presidential Salary 75,000 75,000 100,000 200,000 400,000 CPI (2000 = 100) 11.6 8.1 17.2 47.9 100.0...
6. Let real GDP growth-2.4% per year, money growth-5% per year, nominal interest rate 4.8% and...
6. Let real GDP growth-2.4% per year, money growth-5% per year, nominal interest rate 4.8% and velocity of money-constant. (a) Find the inflation rate, the real interest rate, and the cost of holding money. (b) What are the inflation rate, the real interest rate, and the cost of holding money if the central bank changes the money growth to 6% per year? 2. An economy produces 5 goods. The quantities produced and the prices of the 5 goods in year...
Help! Please give me an explanation as well The following table shows nominal GDP and an...
Help! Please give me an explanation as well
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. (Enter your responses rounded to one decimal place.) Nominal GDP Real GDP (Billions of dollars Year (Billions of dollars Price Index 2000 2004 2008 2012 2015 $10,284.8 $12,274.9 $14,718.6 $16,155.3 $18,036.6 81.9 89.1 99.2 105.2 110.0 Suppose that in Year 1 the total output in a single-good economy was 7,500 buckets of...
The following table shows nominal GDP and an appropriate price index for a 5 year period. Using the values in the...
The following table shows nominal GDP and an appropriate price index for a 5 year period. Using the values in the table, calculate the value of real GDP for each year. Enter your response at whole numbers) dominal GOP Real GDP (illions Mons of dollars) Price Index of dollars) The economy above has experience OA rising price level O ring real GOP throughout the son of rang real GDP in only some of the O Click to select your answers)...
Refer to the diagram to the right where a nominal interest rate (the 6-month annualized Treasury...
Refer to the diagram to the right where a nominal interest rate (the 6-month annualized Treasury rate) and the rate of inflation are plotted. In which of the three decades (1970-79, 1980-89, 1990-99) is the inflation rate the e 14- a 13 most stable? The inflation rate is most stable during the In which of the three decades does the economy experience disinflation? Disinflation is experienced during the In which of the three decades is the real interest rate, on...
22) Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP 1975 1985 1990 2005 2015 $1,688.9 Billion $4,346.7 Billion $5,277.4 Billion $13,093 Billion $17,947 Billion 36.2 51.1 59.7 93.4 109.9 $4,665.5 $8,506.3 $8,839.9 $?????? $16,330.3 Using 2007 as the Base Year with the Price Index that year at 100, the Real GDP for 2005 would be calculated to be: A) $11,914 B) $13,093 $14,018 $15,271
Year 2000 2005 Nominal GDP (billions) $600 $1,100 GDP deflator 100 125 Refer to Table 7-12. Measured in terms of 2000 prices, real GDP in 2005 was 900 750. 880 1,333.
Question 21 (3 points) To convert Nominal GDP to Real GDP, we must use which one of the following formulas? O Real GDP = Nominal GDP / 100 Real GDP = Nominal GDP GDP Deflator O Real GDP = Nominal GDP 100 Real GDP = (100 * Nominal GDP)/ GDP Deflator O Real GDP = GDP Deflator / Nominal GDP
Question 6 (3 points) To convert Nominal GDP to Real GDP, we must use which one of the following formulas? Real GDP = GDP Deflator / Nominal GDP Real GDP = Nominal GDP 100 Real GDP = (100 * Nominal GDP)/ GDP Deflator Real GDP = Nominal GDP * GDP Deflator Real GDP = Nominal GDP / 100 Previous Page Next Page Page 6 of 30
(3) Fill in the missing numbers. Show your computations. (4) (2) GDP Price Nominal GDP, Real GDP, Index Year Billions Billions (2009 = 100) 1995 $ 7,664.0 $10,167.3 2000 10,289.7 81.9 2005 13,095.4 14,235.6 92.0 2009 14,417.9 100.0 2010 14,958.3 14,779.4 101.2 2015 17.947.0 16,348.9 109.8
6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5 Year 1960 1970 1980 1990 1995 2000 2003 81.6 5165.7 7112.5 8032.2 7397.7 9817.0 11004.1 100.0 106.0 7. The nominal salary paid to the President of the United States along with the data for the CPI are given for various years below. Year 1920 1940 1960 1980 2000 Presidential Salary 75,000 75,000 100,000 200,000 400,000 CPI (2000 = 100) 11.6 8.1 17.2 47.9 100.0...
6. Let real GDP growth-2.4% per year, money growth-5% per year, nominal interest rate 4.8% and velocity of money-constant. (a) Find the inflation rate, the real interest rate, and the cost of holding money. (b) What are the inflation rate, the real interest rate, and the cost of holding money if the central bank changes the money growth to 6% per year? 2. An economy produces 5 goods. The quantities produced and the prices of the 5 goods in year...
Help! Please give me an explanation as well
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. (Enter your responses rounded to one decimal place.) Nominal GDP Real GDP (Billions of dollars Year (Billions of dollars Price Index 2000 2004 2008 2012 2015 $10,284.8 $12,274.9 $14,718.6 $16,155.3 $18,036.6 81.9 89.1 99.2 105.2 110.0 Suppose that in Year 1 the total output in a single-good economy was 7,500 buckets of...
The following table shows nominal GDP and an appropriate price index for a 5 year period. Using the values in the table, calculate the value of real GDP for each year. Enter your response at whole numbers) dominal GOP Real GDP (illions Mons of dollars) Price Index of dollars) The economy above has experience OA rising price level O ring real GOP throughout the son of rang real GDP in only some of the O Click to select your answers)...
Refer to the diagram to the right where a nominal interest rate (the 6-month annualized Treasury rate) and the rate of inflation are plotted. In which of the three decades (1970-79, 1980-89, 1990-99) is the inflation rate the e 14- a 13 most stable? The inflation rate is most stable during the In which of the three decades does the economy experience disinflation? Disinflation is experienced during the In which of the three decades is the real interest rate, on...
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