1.
Real GDP growth
=18.05/16.62-1
=8.6041%
inflation rate=123.4/120.0-1=2.8333%
Nominal GDP growth will be
=((1+Real GDP growth)*(1+inflation rate))-1
=((1+8.6041%)*(1+2.8333%))-1
=11.68%
1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price...
1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP? 2. A US computer company buys computers from a US company for their workers. Which category of US gross domestic product (GDP) is this included? (C, I, G, NX or none of the four)
(A) Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP? (B) A US computer company buys computers from a US company for their workers. Which category of US gross domestic product (GDP) is this included? (C, I, G, NX or none of the four) (C) Refer to the following table, compute the CPI...
1 Official GDP may understate the actual output of an economy. Give one possible reason to explain this 2. The following graphs show the loanable funds market. Give an example scenario, which is represented by a shift from line 3 to line 2. Line 1 Line 4 Vertical Axis Υ Line 3 Une 2 С D Horizontal Axis
1. Assuming the price level decreased, and real gross domestic product (GDP) is greater than nominal GDP. Is the current year before or after the base year? 2. Official GDP may understate the actual output of an economy. Give one possible reason to explain this.
1. Assuming the price level decreased, and real gross domestic product (GDP) is greater than nominal GDP. Is the current year before or after the base year? 2. Official GDP may understate the actual output of an economy. Give one possible reason to explain this.
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