What are the benefits and problems of Economic Statistics, such as GDP, inflation, Unemployment Rates, and...
What are the benefits and problems of Economic Statistics, such as GDP, inflation, Unemployment Rates, and others. Are they more headache than useful? What other alternatives do we have to these statistics and are they can any better improvements.
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What are the benefits and problems of Economic Statistics, such
as GDP, inflation, Unemployment Rates, and...
Now that we have looked at measures of inflation and unemployment, in addition to GDP, pick...
Now that we have looked at measures of inflation and unemployment, in addition to GDP, pick a country and evaluate its' "economic health" relative to the United States. Is the country doing better or worse, and why?
Question 2 a. What is GDP? Explain the three methods that the Australian Bureau of Statistics uses to calculate GDP. b....
Question 2 a. What is GDP? Explain the three methods that the Australian Bureau of Statistics uses to calculate GDP. b. If in 2016 the CPI is 100 and nominal wages are $500 and in 2017 the CPI is 120 and nominal wages are $550. What is the level of price inflation from 2016 to 2017? Explain whether real wages have increased from 2016 to 2017? c. Define structural, frictional and cyclical unemployment. Which of these types of unemployment do...
Question 30 3 pts The economic cost of unemployment affects overall economy more than the economic...
Question 30 3 pts The economic cost of unemployment affects overall economy more than the economic cost of inflation because: The economic cost of inflation is a global phenomenon that is felt equally by others around the globe. The cost of unemployment hurts the disadvantaged more than the well-to-do. The cost of unemployment is shown by a point inside the production possibilities curve. The economic cost of both unemployment and inflation are relatively equal. < Previous
What are the two main economic concerns of the Feds? (pick one answer) A. GDP growth...
What are the two main economic concerns of the Feds? (pick one answer) A. GDP growth rates and inflation B. Unemployment rates and consumer confidence C. Inflation and homes sales D. Inflation and unemployment rates E. Home sales and the strength of the U.S. dollar F. Exchange rates and the GDP growth rate
We have discussed two models that describe the relationship between inflation and economic growth. Which of the followi...
We have discussed two models that describe the relationship between inflation and economic growth. Which of the following is a property of the New Keynesian Model but NOT the Real Business Cycle (RBC) Model? Monetary policy has no effect on long run economic growth Recessions can be caused by a fall in aggregate demand. Prices are fully flexible in both the short and long run. All the above are properties of the RBC model. None of the above are properties...
Nominal GDP in Zambia has grown rapidly in recent years. But historically, Zambia is a country that has struggled with inflation rates. The table below gives statistics for Zambia in a recent year.
Nominal GDP in Zambia has grown rapidly in recent years. But historically, Zambia is a country that has struggled with inflation rates. The table below gives statistics for Zambia in a recent year. Nominal GDP growth rateGDP deflator growth ratePopulation growth rate 14.8%7.4%1.1%What was the rate of economic growth for Zambia? % (Round your answer to the nearest tenth.) Part 2 (1 point)See HintIf Zambia continues to grow at its current rate of economic growth, how long will it take to double the level of per capita real GDP? Round your answer to the nearest...
What do current economic data tell us about the health of the economy? Assess the current...
What do current economic data tell us about the health of the economy? Assess the current health of the U.S. economy by evaluating the key economic indicators that we have looked at in this course. How close is the overall economy to potential GDP and the natural rate of unemployment? The relevant economics statistics include the growth rate of real GDP, the unemployment rate, and the inflation rate at a minimum. You are encouraged to discuss and evaluate other economic...
The GDP gap is the difference between: a. frictional unemployment and actual real GDP. b. unemployment...
The GDP gap is the difference between: a. frictional unemployment and actual real GDP. b. unemployment rate and real GDP deflator. c. actual real GDP and full-employment real GDP. d. full-employment real GDP and real GDP deflator. Inflation is an increase in: a. prices of all products in the economy. b. homes, autos and basic resources. c. the general price level of products. d. none of these. 46. Suppose that last year you borrowed $100 at 5 percent interest to...
1. Explain what will happen to the price level real GDP and the unemployment rate in...
1. Explain what will happen to the price level real GDP and the unemployment rate in the following cases: a. AD falls by the same amount that SRAS rises b. AD falls by less than SRAS rises c. AD falls by more than SRAS falls d. AD falls by the same amount that SRAS falls e. AD falls by less than SRAS falls 2. Explain how expectations about future sales will affect investment. 3. How will a change in the...
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...
Question 30 3 pts The economic cost of unemployment affects overall economy more than the economic cost of inflation because: The economic cost of inflation is a global phenomenon that is felt equally by others around the globe. The cost of unemployment hurts the disadvantaged more than the well-to-do. The cost of unemployment is shown by a point inside the production possibilities curve. The economic cost of both unemployment and inflation are relatively equal. < Previous
The GDP gap is the difference between: a. frictional unemployment and actual real GDP. b. unemployment rate and real GDP deflator. c. actual real GDP and full-employment real GDP. d. full-employment real GDP and real GDP deflator. Inflation is an increase in: a. prices of all products in the economy. b. homes, autos and basic resources. c. the general price level of products. d. none of these. 46. Suppose that last year you borrowed $100 at 5 percent interest to...
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