Question

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 17. The change in real GDP from Year 5 to Year 6 is: Increase $3 billion b. Increase $5 billion c. Decrease $3 billion d. Decrease $5 billion 18. Real GDP per capita is found by: a. adding real GDP and population b. subtracting population from real GDP c. dividing real GDP by population. d. dividing population by real GDP 19. If a nation's real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million, its real GDP per capita will: a. remain constant. b. fall by 6 percent. C. rise by 6 percent. d. fall by 12 percent.

Answer 1

Ans.

Aue. Year Nominal ADP $117 billion Price level index 120 Real GDP $97.5 billion 5 $178 billon $158.93 billion 112 $220 billion 14] $ 157,85 billion Note :- . Price level index = Nominal GDP Real GDP Real GDP = Nominal aop i Recice lened index 2 @ @ Incecase $56 billion Yearl - Real GDP = $97.5 billion $153.85 billies year - Read app = increase in $97.5 billion Real GDP = $153.8 billies - 58.35 billion I 17 Hd Dece care $5 billion Year 5 - Real GDP = $158.93 billion Years - Real GDP = $159.85 billion change in Real ADP = Year 6 - Years = ($150.85 – $158.90) billion DecАСлм іѕ lеа <op -15. 03 bilija. ))

OB O di willing meat CIDP bang population, Real Gopper capita = the politice @ @ ecemain constant Real GDP per capita Real GDP population - 9500 200 million 212 million Sloobillion $106 billion 7 - Mochange ♡ Soo J