1. Refer to the following table, compute the CPI in 2013. Assume that 2012 is the base year.
Good |
2012 Price |
2012 Quantity |
2013 Price |
2013 Quantity |
A |
$2.00 |
550 |
$3.50 |
600 |
B |
$4.00 |
1,000 |
$5.50 |
900 |
C |
$2.00 |
250 |
$1.50 |
300 |
2. Refer to the following table, compute the GDP deflator in 2013. Assume that 2012 is the base year.
Good |
2012 Price |
2012 Quantity |
2013 Price |
2013 Quantity |
A |
$2.00 |
550 |
$3.50 |
600 |
B |
$4.00 |
1,000 |
$5.50 |
900 |
C |
$2.00 |
250 |
$1.50 |
300 |
1. Refer to the following table, compute the CPI in 2013. Assume that 2012 is the...
(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...
Assume that an economy produces
only three goods; Computers, cars, and pizza. Table 1 gives the price
and quantity for each good and the number of employed and unemployed
individuals for the years 2010-2013. Table 2 gives the fixed basket used
for calculating the CPI. Assume that the base year is 2011 and show
your work! Table 1 - Price and Quantity of Goods Sold in 2010-2013 2010
2011 2012 2013 P Q P O P Q 25 Computers Cars...
Question 23 (1 point) Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. 2012 Price $2.00 $4.00 $2.00 2012 Quantity 2013 Price $2.50 $5.00 $1.00 2013 Quantity 600 900 300 Good 500 1,000 200 C What was the real gross domestic product (GDP) in 2013? a) $5,400 b) $6,300 Oc) $6,450 d) $1,700 e) $13,600
The country of Aruba produces only cakes and coffee. Quantities and prices of these goods for the last couple of years are shown below. The base year is 2012 count Year Price of Cake Quantity of Cake Price of Coffee Quantity of Coffee mboard 2012 $4 100 $1.50 120 $2.00 ourses 2013 2014 $4 $5 $ 2.50 2015 $6 $ 3.50 lendar E Inbox Refer to the above table: In 2014 country's real GDP was $ 670 and GDP deflator...
Table 5-4 Chapter 5 question 15. Use the following table to answer the following questions. Year Price of Burgers Quantity of Burgers Price of Magazines Quantity of Magazines 2013 $4.00 100 $2.00 180 2014 $5.00 120 $2.50 200 2015 $6.00 150 $3.50 200 Refer to the Table 5-4. Using 2013 as the base year, what can we conclude for 2014? please show your work. a. Real GDP is $880, and the GDP deflator is 80. b. Real GDP is $880,...
Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. Good 2012 Price2012 Quantity 2013 Price 2013 Quantity $2.00 $4.00 $2.00 500 1,000 200 $2.50 $5.00 $1.00 600 900 300 What was the growth rate of real gross domestic product (GDP) between the two years? a) 1.67 percent b) o percent c) 3.2 percent d) 2.4 percent e)...
onsider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. Good 2012 Price 2012 Quantity 2013 Price 2013 Quantity A $2.00 500 $2.50 600 B $4.00 1,000 $5.00 900 C $2.00 200 $1.00 300 What was the rate of inflation between the two years? Group of answer choices 6.67 percent 19.44 percent 8.57 percent 2.38 percent 16.67 percent
Table 7.5 Refer to Table 7.5. Suppose 2014 is the base year. The price index in 2014 is? Refer to Table 7.5. If 2014 is the base year, the price index in 2013 is? If 2015 is the base year and the inflation rate between 2015 and 2016 is 6.4%, the price index in 2016 is? If 2015 is the base year and the inflation rate between 2015 and 2016 is -4.5, the price index in 2016 is? If the...
Good 2011 Quantity 2011 Price 2012 Quantity 2012 Price Apples 50 $0.75 55 $1.00 Oranges 10 $2.50 10 $2.50 Pears 40 $1.00 30 $1.50 Assuming 2011 is the base year, calculate real GDP and the GDP price deflator in 2012. Assuming 2011 is the base year, calculate the percent change in real GDP and the percent change in the GDP deflator between 2011 and 2012.
Consider an economy that produces and consumes coffee, bread and auto- mobiles. In the following table, we have data for two different years. The first 2 questions refer to this table. Price of 1 Automobile Price of 1 loaf of Bread Price of 1 cup of Coffee Number of Automobiles Produced Number of Loaves of Bread Produced Number of Cups of Coffee Produced Year 2018 $30,000 $1.50 $2.00 1000 400,000 100,000 Year 2019 $31,000 $1.60 $2.20 1100 400,000 105,000 1....