Homework Answers
Growth rate=(Real GDP current year-Real GDP previous year/Real GDP previous year)*100
Growth rate={9280-9000/9000}*100
Growth rate=3.1%
Answer-B
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Year 2010 2011 2012 2013 Real GDP (Billion of 2000 dollars) $8,700 $8,875 $9,000 $9,280 Using...
Using the table to the right, what is the approximate growth rate of real GDP from...
Using the table to the right, what is the approximate growth rate of real GDP from 2011 to 2012? O A. 1% OB. 2% OC. 3% Year Year 2010 2011 2012 2013 Real GDP (billions of 2000 dollars) $10,100 10,950 11,425 11,300 OD.
Table of data for Fisherville. The base year is 2010. GDP Deflator 100 120 150 200...
Table of data for Fisherville. The base year is 2010. GDP Deflator 100 120 150 200 Year 2010 2011 2012 2013 Nominal GDP $2000 $3000 $3750 $6000 22. Use the above table for Fisherville. What is the rate of inflation across the entire period from 2010-2013? a. b. с. d. 100% 25% 20% None of the above 23. Use the above table for Fisherville to answer the following question. Which of the following is NOT correct? a. This economy experienced...
8. U.S. GDP in 2012 was $16,020 billion, and GDP in 2013 was $16,570 billion. Did...
8. U.S. GDP in 2012 was $16,020 billion, and GDP in 2013 was $16,570 billion. Did the economy grow from 2012 to 2013 in real terms? The CPI in 2012 was 229.5, and the CPI in 2013 was 233.0. a. Use the Babe Ruth formula to convert 2013 GDP into 2012 dollars. Show your work. b. Using your answer from part (a), calculate the real growth rate of the economy from 2012 to 2013. Show your work. c. Did the...
2010 Prices 2010 Quantity 2011 Prices 2011 Quantity 2012 Prices 2012 Quantity Apples $3 5 $3...
2010 Prices 2010 Quantity 2011 Prices 2011 Quantity 2012 Prices 2012 Quantity Apples $3 5 $3 11 $3 8 Oranges $2 9 $9 3 $1 10 Nominal GDP Real GDP A. Calculate the nominal and the real GDP in each year for the economy. 2010 is your base year. B. If the real GDP was $150 in 2013 and $182 in 2014, what would the GDP growth rate would be? What would this mean? C. If the nominal GDP was $250 in 2014...
Refer to the table below: 2009 2010 2011 2012 2013 Real GDP acceleration (%)...
Refer to the table below: 2009 2010 2011 2012 2013 Real GDP acceleration (%) Low estimate 0.4 0.7 0.4 0.1 0.1 High estimate 1.8 4.1 2.3 0.8 0.4 Increase in employment (million jobs) Low estimate 0.2 0.7 0.5 0.2 0.1 High estimate 0.9 3.3 2.6 1.1 0.5 According to the CBO's low estimates, how many jobs were created by the 2009 fiscal stimulus package in: 2009: million 2010: million 2011: million 2012: million 2013: million
Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2016 using...
Instructions: Enter your
responses rounded to the nearest billion.
a. Calculate real GDP for 2016 using 2000 prices.
$ billion
b. By how much did real GDP increase between 2000 and 2016?
$ billion
c. By how much did nominal GDP increase between 2000 and
2016?
$ billion
Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of Dollars) (Price Index 2009 100) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009...
plz thanks 6. In 2012, Ireland's real GDP was 228 Billion in US dollars, while Bulgaria's...
plz thanks
6. In 2012, Ireland's real GDP was 228 Billion in US dollars, while Bulgaria's was 51.6 Billion in US dollars. From 2012 to 2017, Ireland averaged a real GDP growth rate of 7.89 percent, while over the same period, Bulgaria averaged a real GDP growth rate of 2.35 percent. Is this growth experience consistent with the Convergence Hypothesis? Explain your answer. 5 points.
SHOW WORK 31) If real GDP for 2009 is $6400 billion and nominal GDP for 2010...
SHOW WORK
31) If real GDP for 2009 is $6400 billion and nominal GDP for 2010 is $6720 billion (in 2010 dollars), then the growth rate of real GDP is A) 096. B) 0.5%. C) 5%. D) unknown based on the given information.
Q.8 Attempts: Score: /3 8. Problems and Applications Q8 GDP Year 2011 2012 2013 2014 2015...
Q.8
Attempts: Score: /3 8. Problems and Applications Q8 GDP Year 2011 2012 2013 2014 2015 (Billions of current dollars) 15,517.9 16,155.3 16,663.2 17,348.1 17,942.9 (Billions of 2009 dollars) 15,020.6 15,354.6 15,583.3 15,961.7 16,345.0 Source: "National Economic Accounts."U.S. Bureau of Economic Analysis, The percentage change in nominal GDp from 2011 to 2012 was. The percentage change in real GDP from 2011 to 2012 wasY True or False: The percentage change in real GDP from 2011 to 2012 was higher than...
QUESTION 10 Real GDP Year 2009 2010 2011 12,757.9 13,063.0 13,299.1 Given the GDP data above,...
QUESTION 10 Real GDP Year 2009 2010 2011 12,757.9 13,063.0 13,299.1 Given the GDP data above, what is the Real GDP growth rate for 2011? 3 % 2.6 % 1.8 1.2 %
Using the table to the right, what is the approximate growth rate of real GDP from 2011 to 2012? O A. 1% OB. 2% OC. 3% Year Year 2010 2011 2012 2013 Real GDP (billions of 2000 dollars) $10,100 10,950 11,425 11,300 OD.
Table of data for Fisherville. The base year is 2010. GDP Deflator 100 120 150 200 Year 2010 2011 2012 2013 Nominal GDP $2000 $3000 $3750 $6000 22. Use the above table for Fisherville. What is the rate of inflation across the entire period from 2010-2013? a. b. с. d. 100% 25% 20% None of the above 23. Use the above table for Fisherville to answer the following question. Which of the following is NOT correct? a. This economy experienced...
Instructions: Enter your
responses rounded to the nearest billion.
a. Calculate real GDP for 2016 using 2000 prices.
$ billion
b. By how much did real GDP increase between 2000 and 2016?
$ billion
c. By how much did nominal GDP increase between 2000 and
2016?
$ billion
Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of Dollars) (Price Index 2009 100) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009...
plz thanks
6. In 2012, Ireland's real GDP was 228 Billion in US dollars, while Bulgaria's was 51.6 Billion in US dollars. From 2012 to 2017, Ireland averaged a real GDP growth rate of 7.89 percent, while over the same period, Bulgaria averaged a real GDP growth rate of 2.35 percent. Is this growth experience consistent with the Convergence Hypothesis? Explain your answer. 5 points.
SHOW WORK
31) If real GDP for 2009 is $6400 billion and nominal GDP for 2010 is $6720 billion (in 2010 dollars), then the growth rate of real GDP is A) 096. B) 0.5%. C) 5%. D) unknown based on the given information.
Q.8
Attempts: Score: /3 8. Problems and Applications Q8 GDP Year 2011 2012 2013 2014 2015 (Billions of current dollars) 15,517.9 16,155.3 16,663.2 17,348.1 17,942.9 (Billions of 2009 dollars) 15,020.6 15,354.6 15,583.3 15,961.7 16,345.0 Source: "National Economic Accounts."U.S. Bureau of Economic Analysis, The percentage change in nominal GDp from 2011 to 2012 was. The percentage change in real GDP from 2011 to 2012 wasY True or False: The percentage change in real GDP from 2011 to 2012 was higher than...
QUESTION 10 Real GDP Year 2009 2010 2011 12,757.9 13,063.0 13,299.1 Given the GDP data above, what is the Real GDP growth rate for 2011? 3 % 2.6 % 1.8 1.2 %
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