Use the data in the corresponding table to answer the given questions. If the GDP deflator...
Use the data in the corresponding table to answer the given questions.
If the GDP deflator in 2005 is 100, what is the GDP deflator in 1985? Please specify answer to one decimal place.
| Year | Real GDP ($) | Nominal GDP ($) |
|---|---|---|
| 1985 | 1015 | 1679 |
| 1995 | 10405 | 12061 |
| 2005 | 20483 | 20483 |
1985 GDP deflator:
The price level is lowest in:
A) 2005
B) 1995
C) 1985
Between 1985 and 1995, ____ occurred.
a) inflation
b) deflation
Homework Answers
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Use the data in the corresponding table to answer the given
questions.
If the GDP deflator...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate in each year and fill in the missing parts of the table. Use 2014 as the base year. Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number. Price of Quantity of Price of orange ($) Quantity of oranges 700 beach balls beach ball Nominal GDP ($) Real GDP ($)...
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation...
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation rate in each year and fill in the missing parts of the table Use 2010 as the base year Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number Quantity Price of Quantity Price of Real GOP ($) GOP deflator Inflation rate (%) Year of orange of beach beach ball GDP...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate in each year and fill in the missing parts of the table. Use 2014 as the base year. Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number.
The GDP deflator formula can be used in a variety of ways. Use it to answer...
The GDP deflator formula can be used in a variety of ways. Use it to answer the questions that follow. Round final answers to two decimal places, as needed. Real GDP GDP deflator 2012 $2200.00140.00 nominal GDP in 2012 $ Nominal GDP Real GDP $200.00 2011 $1800.00 $1100.00 2010 $700.00 2010 GDP deflator- 2011 GDP deflator = Nominal GDP GDP deflator 2013 $3500.00 160.00 real GDP in 2013s
The GDP deflator formula can be used in a variety of ways. Use it to answer...
The GDP deflator formula can be used in a variety of ways. Use it to answer the questions that follow. Round final answers to two decimal places, as needed. Real GDPGDP deflator 2012 $2100.00 140.00 nominal GDP in 2012 $ 2010$600.00 2011 $1900.00 Nominal GDPReal GDP $300.00 $1200.00 2010 GDP deflator 2011 GDP deflator - Nominal GDP GDP deflator 2013 $3700.00 160.00 real GDP in 2013 $
1) True or False. If False, supply a reason. a) The GDP deflator ensures that we...
1) True or False. If False, supply a reason. a) The GDP deflator ensures that we are comparing the same quantity of goods and services. b) A higher GDP always means a greater level of well-being c) We need the exchange rate because different countries have different populations. d) The value of the deflator for the base year in percentage terms is 100. e) Contractual rights reduce the risks of our transactions 3) Consider the following table tracking changes in...
Given the following data on the table calculate: the GDP deflator for each year 2014,2015 and...
Given the following data on the table calculate: the GDP deflator for each year 2014,2015 and 2016. Show clearly your calculations (10%) the inflation rate between 2014-2015 and 2015-2016. Show clearly your calculations (10%) (€ million) 2014 2015 2016 Nominal GDP 4,650,000 4,930,000 6,310,000 Real GDP 5,800,000 6,550,000 7,300,200
solve question 4 and 5 3. Calculate the following given the information about the economy in...
solve question 4 and 5
3. Calculate the following given the information about the economy in the table: Total population Noninstitutional population Incapable of working Not in the labour force Employed Unemployed 260 million 200 million 60 million 66 million 134 million 10 million 5. Calculate the following given the following information about the economy in 1985, 1995, and 1999: 1985 1995 1999 Nominal GDP 4,213 9,256.1 (in billions of dollars) GDP deflator 73.7 98.1 (index, 1996=100) Real GDP 7,543.8...
The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2009 dollars)
The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2009 dollars), and population (in thousands) of the United States in 1965,1975,1985,1995,2005, and 2015 . The U.S. price level rose consistently over the period 1965-2015.YearNominal GDP (billions of dollars)Real GDP (billions of 2009 dollars)Population (thousands)1965$743.7$3,976.7194,25019751,688.95,385.4215,89119854,346.77,593.8238,41619957,664.110,174.8266,458200513,093.714,234.2296,115201517,947.016,348.9321,601a. Why is real GDP greater than nominal GDP for all years until 2005 and lower for 2015 ?b. Calculate the percent change in real GDP from 1965 to...
Year 2000 2005 Nominal GDP (billions) $600 $1,100 GDP deflator 100 125 Refer to Table 7-12....
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Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate in each year and fill in the missing parts of the table. Use 2014 as the base year. Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number. Price of Quantity of Price of orange ($) Quantity of oranges 700 beach balls beach ball Nominal GDP ($) Real GDP ($)...
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation rate in each year and fill in the missing parts of the table Use 2010 as the base year Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number Quantity Price of Quantity Price of Real GOP ($) GOP deflator Inflation rate (%) Year of orange of beach beach ball GDP...
The GDP deflator formula can be used in a variety of ways. Use it to answer the questions that follow. Round final answers to two decimal places, as needed. Real GDP GDP deflator 2012 $2200.00140.00 nominal GDP in 2012 $ Nominal GDP Real GDP $200.00 2011 $1800.00 $1100.00 2010 $700.00 2010 GDP deflator- 2011 GDP deflator = Nominal GDP GDP deflator 2013 $3500.00 160.00 real GDP in 2013s
The GDP deflator formula can be used in a variety of ways. Use it to answer the questions that follow. Round final answers to two decimal places, as needed. Real GDPGDP deflator 2012 $2100.00 140.00 nominal GDP in 2012 $ 2010$600.00 2011 $1900.00 Nominal GDPReal GDP $300.00 $1200.00 2010 GDP deflator 2011 GDP deflator - Nominal GDP GDP deflator 2013 $3700.00 160.00 real GDP in 2013 $
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solve question 4 and 5
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