Homework Answers
% change in gdp deflator = % change in nominal gdp - % change in real gdp
2= % change in nominal gdp - 3
Nominal gdp increases by 2+3= 5%
5 is correct
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Suppose that real GDP increases by 3 percent in a year...
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Suppose that nominal GDP increases by 6 percent in a year when real GDP increases by 3 percent. This means that the inflation rate, as measured by the percentage change in the GDP deflator, is approximately percent in that year. × 0.5 ×2
Need help with this, please show work 4. If nominal GDP and real GDP both rise...
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4. If nominal GDP and real GDP both rise by 10 percent, then the GDP deflator O O falls by 10 percent. also rises by 10 percent. remains unchanged. rises by about 20 percent. O
Need help, please show work 2. The table below provides the nominal and real GDP figures...
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2. The table below provides the nominal and real GDP figures for the years 2016 and 2017. a) Calculate the GDP deflator for each year and the inflation rate for the year 2017. GDP Deflator Nom. GDP Real GDP 2016 2017 400 525 100 105 b) If the nominal interest rate on a certificate of deposit (CD) was 50% during 2017, what was the realized (ex-post) real interest earned by a depositor? [Hint real interest...
Need help, please show work The Data of Macroeconomics-Work It Out Question 2 Consider an economy...
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The Data of Macroeconomics-Work It Out Question 2 Consider an economy that produces and consumes bread and automobiles. The table includes data for two different years. Good 20102010 2015 2015 QuantityriceQuantityPrice Automobiles| 70 $44000110 65000 Bread 530000$10 Round answers to to places afier the decimal where necessary a. Using 2010 as the base year, compute nominal GDP, real GDP, the implicit price deflator for GDP, and the CPI for each year 2010 Nominal GDP 2015...
Suppose that the GDP deflator grew by 10 percent from last year to this year. That...
Suppose that the GDP deflator grew by 10 percent from last year to this year. That is, the inflation rate this year was 10 percent This means that overall: real GDP in the economy has risen by 10 percent. output in the economy rose by 10 percent Oprices in the economy have risen by 10 percent. O real GDP and prices both rose by 10 percent This inflation rate implies that the growth rate in real GDP was 10 percent:...
Suppose that the GDP deflator grew by 10 percent from last year to this year. That...
Suppose that the GDP deflator grew by 10 percent from last year to this year. That is, the inflation rate this year was 10 percent. This means that overall: Oreal GDP in the economy has risen by 10 percent. output in the economy rose by 10 percent Oprices in the economy have risen by 10 percent Oreal GDP and prices both rose by 10 percent This inflation rate implies that the growth rate in real GDP was 10 percent: less...
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
(4 marks) Suppose both nominal GDP and real GDP rise by 10 percent. How will the...
(4 marks) Suppose both nominal GDP and real GDP rise by 10 percent. How will the GDP deflator change? What has happened to the general price level? What is the inflation rate? Show your calculation. (4 marks) Other things being the same, if an unemployed person gives up searching for jobs and becomes a stay-at-home parent, what will happen to the labor force, the number of unemployed persons and the unemployment rate? Explain briefly.
Need help, please show work 1. Between 2012 and 2013 a country's nominal GDP rose from...
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1. Between 2012 and 2013 a country's nominal GDP rose from $16.30 billion to $16.789 billion. At the same time the country's price index rose from 142.00 to 144.84 and its population rose from 500,000 to 502,500 people. Based on this data: Nominal GDP increased by The inflation rate was RGDP per capita (measured in base year dollars) was $ % and the population grew by in 2012 an in 2013 Real GDP per capita...
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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work through the answer. Please show work.
Suppose that nominal GDP increases by 6 percent in a year when real GDP increases by 3 percent. This means that the inflation rate, as measured by the percentage change in the GDP deflator, is approximately percent in that year. × 0.5 ×2
Need help with this, please show work
4. If nominal GDP and real GDP both rise by 10 percent, then the GDP deflator O O falls by 10 percent. also rises by 10 percent. remains unchanged. rises by about 20 percent. O
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2. The table below provides the nominal and real GDP figures for the years 2016 and 2017. a) Calculate the GDP deflator for each year and the inflation rate for the year 2017. GDP Deflator Nom. GDP Real GDP 2016 2017 400 525 100 105 b) If the nominal interest rate on a certificate of deposit (CD) was 50% during 2017, what was the realized (ex-post) real interest earned by a depositor? [Hint real interest...
Need help, please show work
The Data of Macroeconomics-Work It Out Question 2 Consider an economy that produces and consumes bread and automobiles. The table includes data for two different years. Good 20102010 2015 2015 QuantityriceQuantityPrice Automobiles| 70 $44000110 65000 Bread 530000$10 Round answers to to places afier the decimal where necessary a. Using 2010 as the base year, compute nominal GDP, real GDP, the implicit price deflator for GDP, and the CPI for each year 2010 Nominal GDP 2015...
Suppose that the GDP deflator grew by 10 percent from last year to this year. That is, the inflation rate this year was 10 percent This means that overall: real GDP in the economy has risen by 10 percent. output in the economy rose by 10 percent Oprices in the economy have risen by 10 percent. O real GDP and prices both rose by 10 percent This inflation rate implies that the growth rate in real GDP was 10 percent:...
Suppose that the GDP deflator grew by 10 percent from last year to this year. That is, the inflation rate this year was 10 percent. This means that overall: Oreal GDP in the economy has risen by 10 percent. output in the economy rose by 10 percent Oprices in the economy have risen by 10 percent Oreal GDP and prices both rose by 10 percent This inflation rate implies that the growth rate in real GDP was 10 percent: less...
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
(4 marks) Suppose both nominal GDP and real GDP rise by 10 percent. How will the GDP deflator change? What has happened to the general price level? What is the inflation rate? Show your calculation. (4 marks) Other things being the same, if an unemployed person gives up searching for jobs and becomes a stay-at-home parent, what will happen to the labor force, the number of unemployed persons and the unemployment rate? Explain briefly.
Need help, please show work
1. Between 2012 and 2013 a country's nominal GDP rose from $16.30 billion to $16.789 billion. At the same time the country's price index rose from 142.00 to 144.84 and its population rose from 500,000 to 502,500 people. Based on this data: Nominal GDP increased by The inflation rate was RGDP per capita (measured in base year dollars) was $ % and the population grew by in 2012 an in 2013 Real GDP per capita...
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