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Q6
Question # 6: Suppose that a nation's nominal GDP = 100, V deficit in its...
Question 6 (3 points) To convert Nominal GDP to Real GDP, we must use which one...
Question 6 (3 points) To convert Nominal GDP to Real GDP, we must use which one of the following formulas? Real GDP = GDP Deflator / Nominal GDP Real GDP = Nominal GDP 100 Real GDP = (100 * Nominal GDP)/ GDP Deflator Real GDP = Nominal GDP * GDP Deflator Real GDP = Nominal GDP / 100 Previous Page Next Page Page 6 of 30
Please explain this GDP question; why is it 200 and not 20??? 34. Suppose that nominal...
Please explain this GDP question; why is it 200 and not
20???
34. Suppose that nominal GDP is $600 billion and real GDP is S30 billion. What is the GDP price deflator? Don't forget that the GDP price deflator is an index! A 50 B 5 C 20 D 200
Date Due Which component includes Why are transfer payments are Name: GDP: Measuring a Nation's income...
Date Due Which component includes Why are transfer payments are Name: GDP: Measuring a Nation's income Why does Total Income Total Expenditure Which component of GDP is the largest household purchases of new housing? excluded from GDP? GDP Calculation. SHOW ALL YOUR WORK O of Por of Com Pof Com Wheat Wheat 100 SS S 10 1999 200 $6 $ 10 2000 300 57 59 O of Rice Por Rice 388 100 90 80 $2 $3 $3 Calculate Nominal GDP...
only answer for question 5 4. Calculate the Nominal GDP, Real GDP using 2019 as the...
only answer for question 5
4. Calculate the Nominal GDP, Real GDP using 2019 as the base year, and the GDP Deflator. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2017 $2 100 $4 200 2018 $4 100 $4 210 2019 $4 120 $6 220 4. Calculate the Nominal GDP, Real GDP using 2019 as the base year, and the GDP Deflator. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion, Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion. What is private saving? $4 trillion $3.5 trillion $2.5 trillion $1.5 trillion Question 1 (1 point) Interest rate (%) Supply of loanable funds Demand for loanable funds 0 10 20 30 40 50 60 70 80 90 100 Quantity of loanable funds (billions...
5. Current account deficit Let G stand for government spending, T for taxes, I for private...
5. Current account deficit Let G stand for government spending, T for taxes, I for private investment, and S for private saving. Complete the following equation for the current account deficit: + Current Account Deficit Which of the following statements about the current account deficit are correct? Check all that apply A successful reduction of a nation's current account deficit must be supported by complementary policies in foreign nations with large current account surpluses Using a current account deficit to...
(4 marks) Suppose both nominal GDP and real GDP rise by 10 percent. How will the...
(4 marks) Suppose both nominal GDP and real GDP rise by 10 percent. How will the GDP deflator change? What has happened to the general price level? What is the inflation rate? Show your calculation. (4 marks) Other things being the same, if an unemployed person gives up searching for jobs and becomes a stay-at-home parent, what will happen to the labor force, the number of unemployed persons and the unemployment rate? Explain briefly.
Question 1 What is the difference(s), if any, between the unemployment rate and the natural rate...
Question 1 What is the difference(s), if any, between the unemployment rate and the natural rate of unemployment? Discuss. Question 2 The expenditure approach (the sum of all spendings) to measuring the value of the nation's output (GDP) is equivalent to the income approach (the sum of all payments to factors). Discuss and illustrate with examples(s) where necessary. Question 3 Real GDP is the same as nominal GDP? If yes, why? If no, why? Discuss Question 4. Does GDP provide...
Suppose that a certain country has a current account surplus in its balance of payments. Does...
Suppose that a certain country has a current account surplus in its balance of payments. Does this mean that the country will necessarily have a financial account deficit? Explain why or why not.
6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5...
6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5 Year 1960 1970 1980 1990 1995 2000 2003 81.6 5165.7 7112.5 8032.2 7397.7 9817.0 11004.1 100.0 106.0 7. The nominal salary paid to the President of the United States along with the data for the CPI are given for various years below. Year 1920 1940 1960 1980 2000 Presidential Salary 75,000 75,000 100,000 200,000 400,000 CPI (2000 = 100) 11.6 8.1 17.2 47.9 100.0...
Question 6 (3 points) To convert Nominal GDP to Real GDP, we must use which one of the following formulas? Real GDP = GDP Deflator / Nominal GDP Real GDP = Nominal GDP 100 Real GDP = (100 * Nominal GDP)/ GDP Deflator Real GDP = Nominal GDP * GDP Deflator Real GDP = Nominal GDP / 100 Previous Page Next Page Page 6 of 30
Please explain this GDP question; why is it 200 and not
20???
34. Suppose that nominal GDP is $600 billion and real GDP is S30 billion. What is the GDP price deflator? Don't forget that the GDP price deflator is an index! A 50 B 5 C 20 D 200
Date Due Which component includes Why are transfer payments are Name: GDP: Measuring a Nation's income Why does Total Income Total Expenditure Which component of GDP is the largest household purchases of new housing? excluded from GDP? GDP Calculation. SHOW ALL YOUR WORK O of Por of Com Pof Com Wheat Wheat 100 SS S 10 1999 200 $6 $ 10 2000 300 57 59 O of Rice Por Rice 388 100 90 80 $2 $3 $3 Calculate Nominal GDP...
only answer for question 5
4. Calculate the Nominal GDP, Real GDP using 2019 as the base year, and the GDP Deflator. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2017 $2 100 $4 200 2018 $4 100 $4 210 2019 $4 120 $6 220 4. Calculate the Nominal GDP, Real GDP using 2019 as the base year, and the GDP Deflator. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion, Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion. What is private saving? $4 trillion $3.5 trillion $2.5 trillion $1.5 trillion Question 1 (1 point) Interest rate (%) Supply of loanable funds Demand for loanable funds 0 10 20 30 40 50 60 70 80 90 100 Quantity of loanable funds (billions...
5. Current account deficit Let G stand for government spending, T for taxes, I for private investment, and S for private saving. Complete the following equation for the current account deficit: + Current Account Deficit Which of the following statements about the current account deficit are correct? Check all that apply A successful reduction of a nation's current account deficit must be supported by complementary policies in foreign nations with large current account surpluses Using a current account deficit to...
(4 marks) Suppose both nominal GDP and real GDP rise by 10 percent. How will the GDP deflator change? What has happened to the general price level? What is the inflation rate? Show your calculation. (4 marks) Other things being the same, if an unemployed person gives up searching for jobs and becomes a stay-at-home parent, what will happen to the labor force, the number of unemployed persons and the unemployment rate? Explain briefly.
6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5 Year 1960 1970 1980 1990 1995 2000 2003 81.6 5165.7 7112.5 8032.2 7397.7 9817.0 11004.1 100.0 106.0 7. The nominal salary paid to the President of the United States along with the data for the CPI are given for various years below. Year 1920 1940 1960 1980 2000 Presidential Salary 75,000 75,000 100,000 200,000 400,000 CPI (2000 = 100) 11.6 8.1 17.2 47.9 100.0...
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