Homework Answers
Correct answer: 880
Reason: Real GDP in 2005 = Nominal GDP / GDP deflator
Real GDP in 2005 = 1100 / 125
Real GDP in 2005 = 8.8
Thus, 2005 RGDP in 2000 dollars = 2005 RGDP X 2000 Deflator
Thus,
2005 RGDP in 2000 dollar = 8.8 x 100
2005 RGDP in 2000 dollars = $880
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Year 2000 2005 Nominal GDP (billions) $600 $1,100 GDP deflator 100 125 Refer to Table 7-12....
i need help explaining how to do it. The correct answer is: 33.3 percent 14 Exhibit...
i need help explaining how to do it.
The correct answer is: 33.3 percent 14 Exhibit 11-6 Use the table below to answer the following question(s). ats out Nominal GDP GDP Year (billions) deflator Year 1 600 100.0 Year 2 1,000 133.3 Refer to Exhibit 11-6. Measured in terms of Year 1 prices, real GDP in Year 2 was Select one: a. 1,333 b. 900. C. 750. Correct Cd. 600 The correct answer is: 750.
year 1974 nominal gdp is 2000, gdp deflator is 100, year 1975 nominal gdp is 3000...
year 1974 nominal gdp is 2000, gdp deflator is 100, year 1975 nominal gdp is 3000 and gdp deflator is 120, year 1976 nominal gdp is 3750 and gdp deflator is 150, year 1977 nominal gdp is 6,000 and gdp deflator is 200. This economy experienced inflation from 1974 to 1975, from 1975 to 1976 to 1977.
Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 =...
Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 = base year) Growth (%) in Real GDP from previous year 1977 2,030.9 4,750.5 42.8 6.4% 1978 2,294.7 45.8 1998 8,747.0 9,066.9 4.2% 1999 9,268.4 97.9 2000 9,817.0 9,817.0 2001 10,128.0 9,890.7 2002 10,487.0 10,074.8 104.1 2003 11,004.0 106.0 2004 11,735.0 108.3 6.What was the price index value for the US in the base year? 7.What was real GDP for the US in the year...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation...
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation rate in each year and fill in the missing parts of the table Use 2010 as the base year Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number Quantity Price of Quantity Price of Real GOP ($) GOP deflator Inflation rate (%) Year of orange of beach beach ball GDP...
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 $1750 billion 125 What is the base year? What is the value of the GDP Deflator in the base year? What is the value of the GDP Deflator in 1990? What is the value of Real GDP in 1998? What is the value of Nominal GDP in 2000?
Year Nominal GDP Real Potential GDP(2005) GDP deflator – Base year 2005 2013 9.269 7730 113...
Year Nominal GDP Real Potential GDP(2005) GDP deflator – Base year 2005 2013 9.269 7730 113 2014 9.873 10145 118 Calculate real GDP in 2013 and 2014 respectfully Calculate the growth in % of nominal GDP between 2013 and 2014 Calculate the growth in % of real GDP between 2013 and 2014 Explain the difference between the growth of nominal GDP and the growth of real GDP Cal the output gap in 2013 and 2014 (in %) and state whether...
GDP deflator Year Nominal GDP Population Size ($ billions (millions 2008 3,275 310 2009 3,400 312...
GDP deflator Year Nominal GDP Population Size ($ billions (millions 2008 3,275 310 2009 3,400 312 2010 3,350 314 Table L: Economic Data for a Hypothetical Economy 104 107 109 119. Consider the economic data provided for a hypothetical economy in Table L above. What is the real GDP growth rate from 2008-09 for the economy depicted in Table L? (If necessary, at each stage of calculation, round to the nearest 1/100th (0.00).) A. -3.39% B. -3.28% C. -1.47% D....
a) What was the value of the GDP deflator in 1999, in 2000 (b) What was...
a) What was the value of the GDP deflator in 1999, in 2000 (b) What was the inflation rate in 2000 using the GDP deflator! 9. Tropical Republic produces only bananas and coconuts. The base year is 2010, an tables give the quantities produced and the prices. Quantities Bananas Coconuts 2010 2011 70 bunches SO bunches 40 bunches 60 bunches Prices Bananas Coconuts 2010 $3 a bunch $8 a bunch 2011 $5 a bunch $9 a bunch (a) (4 points)...
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$3,976.7194,25019751,688.95,385.4215,89119854,346.77,593.8238,41619957,664.110,174.8266,458200513,093.714,234.2296,115201517,947.016,348.9321,601a. Why is real GDP greater than nominal GDP for all years until 2005 and lower for 2015 ?b. Calculate the percent change in real GDP from 1965 to...
i need help explaining how to do it.
The correct answer is: 33.3 percent 14 Exhibit 11-6 Use the table below to answer the following question(s). ats out Nominal GDP GDP Year (billions) deflator Year 1 600 100.0 Year 2 1,000 133.3 Refer to Exhibit 11-6. Measured in terms of Year 1 prices, real GDP in Year 2 was Select one: a. 1,333 b. 900. C. 750. Correct Cd. 600 The correct answer is: 750.
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation rate in each year and fill in the missing parts of the table Use 2010 as the base year Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number Quantity Price of Quantity Price of Real GOP ($) GOP deflator Inflation rate (%) Year of orange of beach beach ball GDP...
GDP deflator Year Nominal GDP Population Size ($ billions (millions 2008 3,275 310 2009 3,400 312 2010 3,350 314 Table L: Economic Data for a Hypothetical Economy 104 107 109 119. Consider the economic data provided for a hypothetical economy in Table L above. What is the real GDP growth rate from 2008-09 for the economy depicted in Table L? (If necessary, at each stage of calculation, round to the nearest 1/100th (0.00).) A. -3.39% B. -3.28% C. -1.47% D....
a) What was the value of the GDP deflator in 1999, in 2000 (b) What was the inflation rate in 2000 using the GDP deflator! 9. Tropical Republic produces only bananas and coconuts. The base year is 2010, an tables give the quantities produced and the prices. Quantities Bananas Coconuts 2010 2011 70 bunches SO bunches 40 bunches 60 bunches Prices Bananas Coconuts 2010 $3 a bunch $8 a bunch 2011 $5 a bunch $9 a bunch (a) (4 points)...
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