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Inflation in the orange and boomerang economy: calculate the
inflation rate for the 2020- 2021 period...
5. National accounting over time (Il): Consider an economy that produces oranges and boomerangs The prices...
5. National accounting over time (Il): Consider an economy that produces oranges and boomerangs The prices and quantities of these goods in two different years are reported in the table below. Fill in the missing entries. Percentage change 2020-2021 2021 2020 100 20 Quantity of oranges Quantity of boomerangs Price of oranges (dollars) Price of boomerangs (dollars) Nominal GDP Real GDP in 2020 prices Real GDP in 2021 prices Real GDP in chained prices, 105 1.10 3.10 benchmarked to 2021
Exercise 2. National accounting over time (problem 5 from the book) Consider an economy that produces...
Exercise 2. National accounting over time (problem 5 from the book) Consider an economy that produces oranges and boomerangs. The prices and quantities of these goods in two different years are reported in the table below. Fill in the missing entries 2020 Percentage Change 2020-2021 2021 100 20 105 Quantity of oranges Quantity of boomerangs Price of oranges (dollars) Price of boomerangs (dollars) Nominal GDP Real GDP in 2020 prices Real GDP in 2021 prices Real GDP in chained prices,...
1. Describe, in your own words, the Laspeyres Index, the Paasche Index, and the Fisher Index...
1. Describe, in your own words, the Laspeyres Index, the Paasche
Index, and the Fisher Index (chain-weighting).
2. Consider a country that only produces cars, cantaloupes, and
catamarans. Complete the following table by filling in the missing
entries.
3. Calculate the inflation rate for the 2014-15 period using the
GDP deflator based on the Laspeyres Index, the Paasche Index, and
the Fisher (chain-weighted) Index.
ercent change FY2014-15 FY 2014 FY 2015 Number of cars produced 100 125 Quintals of cantaloupes...
3. Consider an economy that produces oranges and boomerangs. The prices and quantities of these goods...
3. Consider an economy that produces oranges and boomerangs. The prices and quantities of these goods in two different years are reported in the table below. Fill in the missing entries. % change 2017-18 Quantity of oranges Quantity of boomerangs Prices of oranges (dollars) Prices of boomerangs (dollars) 3 Nominal GDP Real GDP in 2017 prices 2017 100 20 2018 108 30 1.10 3.15 Real GDP in 2018 prices 4. a. Using the data in Question 3, calculate the rate...
2. National income: growth and inflation. Show all calculations. 2019 2019 2020 2020 2021 2021 Price Quantity...
2. National income: growth and inflation. Show all calculations. 2019 2019 2020 2020 2021 2021 Price Quantity Price Quantity Price Quantity Peaches $20 100 22 105 24 110 Pears $4 25 2 50 1 100 a. Compute nominal and real GDP for each year in an economy that produces only 2 goods, peaches and pears. Use 2019 as the base year. b. Compute the GDP implicit price deflator for each year. Again, use 2019 as the base year. c. Find the...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges. The following table s...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges. The following table shows the prices and quantities of the goods over a three-year period. Year Pencils Oranges Price Quantity Price Quantity (Dollars per pencil) (Number of pencils) (Dollars per orange) (Number of oranges) Year Pencils Oranges Price Quantity Price Quantity (Dollars per pencil) (Number of pencils) (Dollars per orange) (Number of oranges) 2016 2 125 3 155 2017 4 135 3 210 2018...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges....
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges. The following table shows the prices and quantities of the goods over a three-year period Pencils Oranges Price (Dollars per orange) 2 4 4 Price Year 2012 2013 2014 Quantity (Number of pencils) 145 165 110 Quantity (Number of oranges) 195 225 165 (Dollars per pencil) Use the information from the preceding table to fill in the following table Nominal GDP Real GDP (Dollars)...
Consider a simple economy that produces two goods: pencils and oranges. The following table shows the...
Consider a simple economy that produces two goods: pencils and oranges. The following table shows the prices and quantities of the goods over a three-year period Pencils Oranges Price Price Quantity Quantity (Number of pencils) 110 155 120 (Dollars per pencil) (Dollars per orange) (Number of oranges) Year 2012 2013 2014 150 215 180 Use the information from the preceding table to fill in the following table Real GDP (Base year 2012, dollars) Nominal GDP (Dollars) GDP Deflator Year 2012...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pens and erasers....
5. Real versus nominal GDP Consider a simple economy that produces two goods: pens and erasers. The following table shows the prices and quantities of the goods over a three-year period. Year Pens Erasers Price Quantity Price Quantity (Dollars per pen) (Number of pens) (Dollars per eraser) (Number of erasers) 2018 2 115 5 175 2019 4 150 2 180 2020 1 100 2 160 Use the information from the preceding table to fill in the following table. Year Nominal...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and erasers....
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and erasers. The following table shows the prices and quantities of the goods over a three-year period. Pencils Price Quantity (Dollars per pencil (Number of pencils) 1 125 Erasers Price Quantity (Dollars per eraser (Number of erasers) 1 200 Year 2018 2019 170 4 230 2020 4 150 4 170 Use the information from the preceding table to fill in the following table. Nominal GDP (Dollars)...
5. National accounting over time (Il): Consider an economy that produces oranges and boomerangs The prices and quantities of these goods in two different years are reported in the table below. Fill in the missing entries. Percentage change 2020-2021 2021 2020 100 20 Quantity of oranges Quantity of boomerangs Price of oranges (dollars) Price of boomerangs (dollars) Nominal GDP Real GDP in 2020 prices Real GDP in 2021 prices Real GDP in chained prices, 105 1.10 3.10 benchmarked to 2021
Exercise 2. National accounting over time (problem 5 from the book) Consider an economy that produces oranges and boomerangs. The prices and quantities of these goods in two different years are reported in the table below. Fill in the missing entries 2020 Percentage Change 2020-2021 2021 100 20 105 Quantity of oranges Quantity of boomerangs Price of oranges (dollars) Price of boomerangs (dollars) Nominal GDP Real GDP in 2020 prices Real GDP in 2021 prices Real GDP in chained prices,...
1. Describe, in your own words, the Laspeyres Index, the Paasche
Index, and the Fisher Index (chain-weighting).
2. Consider a country that only produces cars, cantaloupes, and
catamarans. Complete the following table by filling in the missing
entries.
3. Calculate the inflation rate for the 2014-15 period using the
GDP deflator based on the Laspeyres Index, the Paasche Index, and
the Fisher (chain-weighted) Index.
ercent change FY2014-15 FY 2014 FY 2015 Number of cars produced 100 125 Quintals of cantaloupes...
3. Consider an economy that produces oranges and boomerangs. The prices and quantities of these goods in two different years are reported in the table below. Fill in the missing entries. % change 2017-18 Quantity of oranges Quantity of boomerangs Prices of oranges (dollars) Prices of boomerangs (dollars) 3 Nominal GDP Real GDP in 2017 prices 2017 100 20 2018 108 30 1.10 3.15 Real GDP in 2018 prices 4. a. Using the data in Question 3, calculate the rate...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges. The following table shows the prices and quantities of the goods over a three-year period Pencils Oranges Price (Dollars per orange) 2 4 4 Price Year 2012 2013 2014 Quantity (Number of pencils) 145 165 110 Quantity (Number of oranges) 195 225 165 (Dollars per pencil) Use the information from the preceding table to fill in the following table Nominal GDP Real GDP (Dollars)...
Consider a simple economy that produces two goods: pencils and oranges. The following table shows the prices and quantities of the goods over a three-year period Pencils Oranges Price Price Quantity Quantity (Number of pencils) 110 155 120 (Dollars per pencil) (Dollars per orange) (Number of oranges) Year 2012 2013 2014 150 215 180 Use the information from the preceding table to fill in the following table Real GDP (Base year 2012, dollars) Nominal GDP (Dollars) GDP Deflator Year 2012...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and erasers. The following table shows the prices and quantities of the goods over a three-year period. Pencils Price Quantity (Dollars per pencil (Number of pencils) 1 125 Erasers Price Quantity (Dollars per eraser (Number of erasers) 1 200 Year 2018 2019 170 4 230 2020 4 150 4 170 Use the information from the preceding table to fill in the following table. Nominal GDP (Dollars)...
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