Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 =...
| Year | Nominal GDP (billions of $) |
Real GDP (billions of 2000 $) |
Price Index (2000 = base year) |
Growth (%) in Real GDP from previous year |
| 1977 | 2,030.9 | 4,750.5 | 42.8 | 6.4% |
| 1978 | 2,294.7 | 45.8 |
| 1998 | 8,747.0 | 9,066.9 | 4.2% | |
| 1999 | 9,268.4 | 97.9 | ||
| 2000 | 9,817.0 | 9,817.0 | ||
| 2001 | 10,128.0 | 9,890.7 | ||
| 2002 | 10,487.0 | 10,074.8 | 104.1 | |
| 2003 | 11,004.0 | 106.0 | ||
| 2004 | 11,735.0 | 108.3 |
6.What was the price index value for the US in the base year?
7.What was real GDP for the US in the year 1978?
8.What was the real GDP for the US in the year 2003?
9.What was the price index for the US in the year 2001?
10.Looking only at the years displayed in this table, in which year was real GDP growth in the US greatest?
Homework Answers
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Year
Nominal GDP
(billions of $)
Real GDP
(billions of 2000 $)
Price Index
(2000 =...
please help me Measuring the Macroeconomy a. Real vs. Nominal GDP FILL IN THE BLANKS. Year...
please help me
Measuring the Macroeconomy a. Real vs. Nominal GDP FILL IN THE BLANKS. Year Real GDP GDP Deflator Economic Growth Rate (Billions) (Billions) 2000 $54,000 $57,500 $60,000 2001 00 2002 $63,750 103 b. Given the following information, calculate (1) the unemployment rate (2) the employment rate and (3) the labor force participation rate. Total Population = 2,000,000 Children, Military & Institutionalized = 500,000 Retirees, Stay-at-home parents, students = 325,000 Unemployed = 58,500 Calculate the Civilian Non-institutionalized Population (CNP):...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
Using the following data, calculate the annual growth rate of real GDP per person for China...
Using the following data, calculate the annual growth rate of real GDP per person for China for the years in the table. Year Real GDP per Capita (in 1996 U.S. dollars) 2000 4,001 2001 4,389 2002 4,847 2003 5,321 2004 5,771 Calculate the annual growth rate of real GDP per person for China for the given years. Round your answer to the nearest tenth of a percent. Growth rate, 2001: % Growth rate, 2002: % Growth rate, 2003: % Growth...
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Ind...
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Index was 177.1 (using 1999 as the base year). Estimate the real GDP for 2012 4. In 2015 US Real GDP was $16,547.6 billions of dollars; in 2016, US Real GDP was $16,851.4 billions of dollars. Estimate the economic growth rate for the period 2016-2015.?
The following table shows nominal GDP and an appropriate price index for a group of selected year...
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. Nominal GDP Year 1968 1978 1988 1998 2008 Price Index 2005 100 22.01 40.40 66.98 85.51 108.48 Real GDP, Billions Effect on Nominal GDP Billions $909.80 2293.80 5100.40 8793.50 14441.40 0.00 increase /...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
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...
Consider the following price data from 1994 to 2002. Year Price 1994 70 1995 67 1996...
Consider the following price data from 1994 to 2002. Year Price 1994 70 1995 67 1996 75 1997 82 1998 77 1999 83 2000 86 2001 84 2002 81 Click here for the Excel Data File a. Compute the simple price index using 1994 as the base year. (Round your answers to 2 decimal places.) Year Price Index 1994 1995 1996 1997 1998 1999 2000 2001 2002 b. Determine the percentage change in prices from 1994 to 1998. (Round your...
Real vs. Nominal GDP Year Real GDP Nominal GDP GDP Deflator 1990 $1000 billion $950 billion...
Real vs. Nominal GDP Year Real GDP Nominal GDP GDP Deflator 1990 $1000 billion $950 billion 1995 $1200 billion $1200 billion 1998 $1500 billion 115 2000 $1750 billion 125 What is the base year? What is the value of the GDP Deflator in the base year? What is the value of the GDP Deflator in 1990? What is the value of Real GDP in 1998? What is the value of Nominal GDP in 2000?
Suppose that in 2002 the real GDP was $8 trillion and the GDP price index was...
Suppose that in 2002 the real GDP was $8 trillion and the GDP price index was 1.5. If Nominal GDP increased by 20% between 2002 and 2003, what was the Nominal GDP for 2003? Select one: a. $10.0 trillion b. $12.0 trillion $12.5 trillion d. $13.6 trillion e. $14.4 trillion
please help me
Measuring the Macroeconomy a. Real vs. Nominal GDP FILL IN THE BLANKS. Year Real GDP GDP Deflator Economic Growth Rate (Billions) (Billions) 2000 $54,000 $57,500 $60,000 2001 00 2002 $63,750 103 b. Given the following information, calculate (1) the unemployment rate (2) the employment rate and (3) the labor force participation rate. Total Population = 2,000,000 Children, Military & Institutionalized = 500,000 Retirees, Stay-at-home parents, students = 325,000 Unemployed = 58,500 Calculate the Civilian Non-institutionalized Population (CNP):...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Index was 177.1 (using 1999 as the base year). Estimate the real GDP for 2012 4. In 2015 US Real GDP was $16,547.6 billions of dollars; in 2016, US Real GDP was $16,851.4 billions of dollars. Estimate the economic growth rate for the period 2016-2015.?
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. Nominal GDP Year 1968 1978 1988 1998 2008 Price Index 2005 100 22.01 40.40 66.98 85.51 108.48 Real GDP, Billions Effect on Nominal GDP Billions $909.80 2293.80 5100.40 8793.50 14441.40 0.00 increase /...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
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...
Consider the following price data from 1994 to 2002. Year Price 1994 70 1995 67 1996 75 1997 82 1998 77 1999 83 2000 86 2001 84 2002 81 Click here for the Excel Data File a. Compute the simple price index using 1994 as the base year. (Round your answers to 2 decimal places.) Year Price Index 1994 1995 1996 1997 1998 1999 2000 2001 2002 b. Determine the percentage change in prices from 1994 to 1998. (Round your...
Suppose that in 2002 the real GDP was $8 trillion and the GDP price index was 1.5. If Nominal GDP increased by 20% between 2002 and 2003, what was the Nominal GDP for 2003? Select one: a. $10.0 trillion b. $12.0 trillion $12.5 trillion d. $13.6 trillion e. $14.4 trillion
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