Answer 9:
Nominal GDP growth rate from year 2018 to 2019 is 95 percent.
Explanation: GDP is the value of total production in a given year, i.e, price× quantity of all goods added together.
For 2018 Nominal GDP= $1×100+$100×10+$50×18=$2000.
For 2019 Nominal GDP =$1.50×300+$150×13+$75×20=$3900
Growth rate =Change in GDP/GDP in 2018 ×100 =$3900-$2000/$2000×100=95%
Answer 10:
Nominal GDP growth rate from year 2019 to 2020 is 200 percent.
Explanation: GDP is the value of total production in a given year, i.e, price× quantity of all goods added together.
For 2020 Nominal GDP= $3×800+$300×20+$150×22=$11700
For 2019 Nominal GDP =$1.50×300+$150×13+$75×20=$3900
Growth rate =Change in GDP/GDP in 2018 ×100 =$11700-$3900/$3900×100=200%.
Answer 11:
Real GDP in 2018 using 2018 as base year is same as nominal GDP in 2018,i.e., $2000.
Explanation: GDP for 2018 using 2018 as base year will use both prices and quantity for year 2018 and therefore it will be equal to Nominal GDP.
Answer 12: Real GDP for 2019 using 2018 as base year is $2600.
Explanation: Real GDP for 2019 using 2018 as base year will be calculated using quantity of year 2019 and prices for year 2018 as follows:
Real GDP= $1×300+$100×13+$50×20=$2600.
Year Coffee For each of the following questions, use the following table of items produced by...
Information P Flag question For each of the following questions, use the following table of items produced by a nation for the years 2018, 2019, and 2020. Year Price of Coffee Qty of Coffee Price of Monitors Qty of Monitors Price of Headphones Qty of Headphones 2018 $1.00 100 $100 10 $50 18 2019 $1.50 300 $150 13 $75 20 2020 $3.00 800 $300 20 $150 22 Question 6 Calculate nominal GDP in 2018. Not yet answered Type in your...
For each of the following questions, use the following table of items produced by a nation for the years 2018, 2019, and 2020. Year Price of Coffee Qty of Coffee Price of Monitors Qty of Monitors Price of Headphones Qty of Headphones 2018 $1.00 100 $100 2019 $1.50 300 $150 13 $75 2020 $3.00 800 $300 - 20 $150 $50 118 Calculate the real GDP growth rate as a percentage from 2018 to 2019. Type in your answer solely as...
Table 5-4 Chapter 5 question 15. Use the following table to answer the following questions. Year Price of Burgers Quantity of Burgers Price of Magazines Quantity of Magazines 2013 $4.00 100 $2.00 180 2014 $5.00 120 $2.50 200 2015 $6.00 150 $3.50 200 Refer to the Table 5-4. Using 2013 as the base year, what can we conclude for 2014? please show your work. a. Real GDP is $880, and the GDP deflator is 80. b. Real GDP is $880,...
Table 5.1 Consider the following table for the country of Ophir Year Nominal GDP GDP Deflator 2018 $8000 100 2019 $8200 105 2020 $8400 110 Refer to Table 5-1. What can we conclude about real GDP from this information? a. Real GDP was higher in 2020 than in 2018, and real GDP in 2019 was higher than in 2020. O b. Real GDP was higher in 2018 than in 2019, and real GDP in 2019 was higher than in 2020....
Question 1 Not yet answered Marked out of 1.00 Flag question Solve the following pair of simultaneous equations. -3.- 5y = -13, 5x + 4y = 26. Give your answers exactly, as integers or single fractions. The solution is: x = y= Question 2 Not yet answered Marked out of 1.00 Flag question Suppose that the number of atoms of a particular isotope at time t (in hours) is given by the exponential decay function f(t) = -0.578. By what...
Question 11 44 pts Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2017-2020. Table 2 gives the fixed basket used for calculating the CPI. Assume that the base year is 2018! Table 1 - Price and Quantity of Goods Sold in 2017-2020 2017 2018 2019 2020 Р Q 20 Q 15 Computers Р $400/unit $18,000/unit...
Consider an economy that produces and consumes coffee, bread and auto- mobiles. In the following table, we have data for two different years. The first 2 questions refer to this table. Price of 1 Automobile Price of 1 loaf of Bread Price of 1 cup of Coffee Number of Automobiles Produced Number of Loaves of Bread Produced Number of Cups of Coffee Produced Year 2018 $30,000 $1.50 $2.00 1000 400,000 100,000 Year 2019 $31,000 $1.60 $2.20 1100 400,000 105,000 1....
You are investigating the membrane properties of a newly discoverd deep sea bacterium. You discover that it is composed of 71 % protein (with the remainder being made up of a variety of lipid molecules). Calculate the overage density of the membrane assuming that protein has an average density of 1.2 g/ml and lipid a density of 0.94 g/ml. Question 14 Not yet answered Marked out of 10.0 Give your answer to one decimal place. P Flag question Answer: Question...
Question 1 The following is the data you will use for this activity. Not yet answered Vol Used Points out of 2.00 3.5 mL Reactants benzonitrile sodium hydroxide (109) Product P Flag 28.6 mL question Exp % Yield benzoic acid 81.6 % Calculate the grams of benzonitrile used. Answer: Question 2 Calculate the moles of benzonitrile used. Not yet answered Points out of 2.00 Answer: Flag question Question 3 Calculate the mass of sodium hydroxide used in grams. Not yet...
Consider a simple economy that produces two goods: cupcakes and erasers. The following table shows the prices and quantities of the goods over a three-year period Erasers Cupcakes Price Quantity (Dollars per cupcake) (Number of cupcakes) 1 150 Year Price (Dollars per eraser) 2 Quantity (Number of erasers) 160 2018 2019 2 135 4 230 2020 3 110 4 165 Use the information from the preceding table to fill in the following table. Nominal GDP (Dollars) Year Real GDP (Base...