Question

Suppose the following data describe output in two different years:

Item	Year 1	Year 2
Apples	20,000 @ 25¢ each	30,000 @ 30¢ each
Bicycles	700 @ $800 each	650 @ $900 each
Movie Rentals	10,000 @ $1.00 each	12,000 @ $1.50 each

By what percentage did real GDP decrease from Year 1 to Year 2?

Instructions: Enter your response rounded to one decimal place. Do not include a minus (-) sign or percent sign .Use the percentage change formula: ((New Value - Original Value)/Original Value)

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Question 71 pts

Suppose the following data describe output in two different years:

Item	Year 1	Year 2
Apples	20,000 @ 25¢ each	30,000 @ 30¢ each
Bicycles	700 @ $800 each	650 @ $900 each
Movie Rentals	10,000 @ $1.00 each	12,000 @ $1.50 each

Compute nominal GDP in year 2 (Enter as a numeric value e.g. 100000)

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Question 81 pts

Suppose the following data describe output in two different years:

Item	Year 1	Year 2
Apples	20,000 @ 25¢ each	30,000 @ 30¢ each
Bicycles	700 @ $800 each	650 @ $900 each
Movie Rentals	10,000 @ $1.00 each	12,000 @ $1.50 each

Compute nominal GDP in year 1 (Enter as a numeric value e.g. 100000)

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Question 91 pts

Suppose the following data describe output in two different years:

Item	Year 1	Year 2
Apples	20,000 @ 25¢ each	30,000 @ 30¢ each
Bicycles	700 @ $800 each	650 @ $900 each
Movie Rentals	10,000 @ $1.00 each	12,000 @ $1.50 each

Compute real GDP in year 2 (Enter as a numeric value e.g. 100000)

Question 151 pts

If China's GDP in 2014 is 59,665.10 yuan and the U.S. GDP is $16.8 trillion in the same year, what is China's GDP in dollars for 2014 if the exchange rate is 6.716 yuan =$1.

(Enter your value as a numeric value with two decimal places e.g. 1000.02)