Question

we were como THAIGAL NOTEBOOKS AL GRAMING TRUM CHAPTER 4 MEASURING THE ECONOMY : UNEMPLOYMENT AND INSLATION 161 Calculate real incaunes. - 2016: - 2017: 2015: - Calculate the percentage that real incomes rose. 2017 three countries tall with the same base year with figures converted to Canadian 2016 (LO3) The data for three dollars are shown in Table 4.12. TABLE 4.12 Population millions) Nominal GDP 15billions Price Index 2009 - 100 35 140 $ 715 2200 2875 Altria Bergan Casper 120 1.50 180 Calculate the real GDPs per capita for each country and rank them in size. Country Real GDP per Capita 5. (LO 3) ter 103) Terana's nominal GDP rose from $200 billion in 2016 to 5224 billion in 2017. During the same period the inflation rate was 7 percent. Calculate answers to one decimal place.) al By what percentage did nominal GDP increase between 2016 and 20177 bi by what percentage did real GDP increase between 2016 and 2017? Intermediate (Problems 6-8) (LO 1) The information in Table 4.13 is for the economy of Mensk. TABLE 4.13 20.0 11.5 2.0 Working-age population Number of people in full-time employment Number of people in part-time employment Number of people unemployed Number of discouraged workers a) What is the unemployment rate? b) What is the participation rate? z (L01, 2) Table 4.14 shows national data (in billions of dollars for the economy of Westfall. Answer the questions to one decimal point. TABLE 4.14 2015 2016 2017 958 850 109 118 833 Nominal GDP ($) GDP deflator 2010 = 100) Real GDP Population (millions! Real GDP per capita 30 27 311 28 390 a) Fill in the blanks in the table. b) What is the inflation rate in 20167 c) What is the growth rate of real GDP per capita in 2017?

Answer 1

Due to presence of HOMEWORKLIB POLICY, I am answering one question.

4.

Ans: Real GDP per capita is given as Nominal GDP per capita adjusted for inflation:

$\frac{NominalGDP}{Population}*\frac{100}{PriceIndex}$

For Altria, real GDP per capita is:

$\frac{715}{35}*\frac{100}{140}=14.59$

For Bergan, real GDP per capita is:

$\frac{2200}{75}*\frac{100}{120}=24.44$

For Casper, real GDP per capita is:

$\frac{2875}{150}*\frac{100}{180}=10.65$

Rank for real GDP per capita: Bergan > Altria > Casper

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