8. The GDP deflator can be used to identify the (a) increase in real GDP that...
8. The GDP deflator can be used to identify the
(a) increase in real GDP that is due to an increase in prices rather than an increase in production
(b) increase in nominal GDP that is due to an increase in prices rather than an increase in production
(c) increase in the cost of living for typical U.S. consumers
(d) reduction in government spending required to balance the federal budget
Homework Answers
Ans) the correct option is b) increase in nominal GDP that is due to an increase in prices rather than an increase in production.
Add Answer to:
8. The GDP deflator can be used to identify the
(a) increase in real GDP that...
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 $
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment rate falls. c. labor productivity falls. d. the unemployment rate rises. 8. The unemployment rate is the number of unemployed people, expressed as a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population. 9. If part of the labor force is unemployed, the...
For each of the following situations, state whether CPI or GDP deflator is a more appropriate...
For each of the following situations, state whether CPI or GDP deflator is a more appropriate measure to use and explain why the statistic is preferred. 1) You are interested in looking at the impact of higher prices of imported oil in the overall cost of living. 2) The government is interested in whether increases in defense spending are affecting the price level.
Answer True or False for each of the following. (3 points each) GDP per capita is...
Answer True or False for each of the following. (3 points each) GDP per capita is GDP divided by the population growth rate. Disposable personal income is what you have left over after paying basic living expenses. Net Domestic Product is Gross Domestic Product minus depreciation. Real GDP is always lower than nominal GDP. The GDP deflator is a good cost of living index. In the long run GDP tends to return to the vicinity of a long run growth...
34. All of the following will increase potential real GDP except a. an increase in the...
34. All of the following will increase potential real GDP except a. an increase in the amount of natural resources available. b. an increase in the percentage of the population that attends college. c. an increase in the cost of living (money prices). d. an improvement in technology. 35. Which of the following is not a problem associated with Real GDP as a measure of social welfare? a. It excludes intermediate goods as a separate entry. b. It does not...
17. The consumer price index is used to convert nominal GDP into real GDP. turn dollar...
17. The consumer price index is used to convert nominal GDP into real GDP. turn dollar figures into meaningful measures of purchasing power. characterize the types of goods and services that consumers purchase. measure the quantity of goods and services that the economy produces. a b. C d. Por M 18. When the consumer price index falls, the typical family has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars to maintain the...
1. Year Nominal GDP GDP Price deflator Real GDP Inflation Rate
1. Year Nominal GDP GDP Price deflator Real GDP Inflation Rate Growth Rate 2008 $14,833.60 99.23 -- -- 2009 14,417.90 100.00 2010 14,779.40 101.21 2011 15,052.40 103.20 2012 15,470.70 105.00 2013 15,759.00 106.59 2014 17,420.70 108.27 2015 18,287.20 110.01 2016 18,905.50 112.08 2017 19,738.90 114.27 a. Fill in the blanks in the table above and show your work. b. Over this time period, does inflation...
Question 8 1 pts Price level (GDP deflator 2000 - 100) Real GDP (Villions of 2000...
Question 8 1 pts Price level (GDP deflator 2000 - 100) Real GDP (Villions of 2000 dollars) In the figure above, if the economy is at point A, the appropriate monetary policy by the Federal Reserve would be to raise income taxes. lower interest rates. raise interest rates. lower income taxes
(1) Other things being equal, which of the following will increase aggregate expenditures? Group of answer...
(1) Other things being equal, which of the following will increase aggregate expenditures? Group of answer choices An increase in domestic prices relative to foreign prices A decrease in the interest rate A decrease in real wealth An increase in income taxes A decrease in government purchases of goods and services (2) If the current unemployment rate is 5 percent and the natural unemployment rate is 6 percent, then the economy is Group of answer choices producing a level of...
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 $
17. The consumer price index is used to convert nominal GDP into real GDP. turn dollar figures into meaningful measures of purchasing power. characterize the types of goods and services that consumers purchase. measure the quantity of goods and services that the economy produces. a b. C d. Por M 18. When the consumer price index falls, the typical family has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars to maintain the...
Question 8 1 pts Price level (GDP deflator 2000 - 100) Real GDP (Villions of 2000 dollars) In the figure above, if the economy is at point A, the appropriate monetary policy by the Federal Reserve would be to raise income taxes. lower interest rates. raise interest rates. lower income taxes
Most questions answered within 3 hours.
-
Given P(Ec ) = 0.43, P(F) = 0.52, and P(EF) = 0.18.
Find P( E |...
asked 33 minutes ago -
Consider two empty containers A and B whose volumes are
10mL and 20mL respectively. 1mL of...
asked 37 minutes ago -
QUESTION 6
Determine the linear momentum of a 2,800 kg houseboat going 3
m/s.
9,100 kg.m/s...
asked 51 minutes ago -
Jor-el throws a ball upward from the top of a 728 foot building
on the planet...
asked 55 minutes ago -
Which of the following will most likely to happen if Federal
Reserve Bank decreases the money...
asked 37 minutes ago -
You’ve just joined the investment banking firm of Dewey,
Cheatum, and Howe. They’ve offered you two...
asked 31 minutes ago -
An air conditioner cools 226 m^3/min of humid air at 36 oC and
98% relative humidity...
asked 31 minutes ago -
Vaughn Manufacturing acquires a coal mine at a cost of $1870000.
Intangible development costs total $354000....
asked 40 minutes ago -
Question 5
What effect would a decrease in
temperature have on pressure, assuming that volume
(T)...
asked 52 minutes ago -
Draw the Lewis dot structures for the following molecules. None
of the atoms have a formal...
asked 57 minutes ago -
What does it mean when an element is radioactive?
a.
It means the element is changing...
asked 57 minutes ago -
A company deposits $6,000 in a bank at the end of every year for
10 years....
asked 57 minutes ago