in venezuela the nominal gdp increased from 45.3 billion in 2014 to 48.6 billion in 2015. during the same period the cpi went from 122 to 156. given this information calculate the nominal gdp growth in 2015
Answer
Nominal GDP growth rate =((Nominal GDP of the year - NGDP of last year)/NGDP of last year)*100
the nominal GDP growth in 2015=((48.6-45.3)/45.3)*100
=7.28476821
=7.28%
The NGDP growth rate is 7.28%
in venezuela the nominal gdp increased from 45.3 billion in 2014 to 48.6 billion in 2015....
From 2014 to 2015, nominal GDP ______ (DECREASED OR INCREASED) , and real GDP _____ (Decreased or increased) The inflation rate in 2015 was __ (-30%, 0.3%, 76.9%, or 130%) Consider a simple economy that produces two goods: cupcakes and erasers. The following table shows the prices and quantities of the goods over three-year period Cupcakes Erasers Price Quantity (Number of cupcakes) 125 135 100 Price Quantity (Number of erasers) 155 210 200 (Dollars per cupcake) (Dollars per eraser) Year...
5. (LO3) Terana's nominal GDP rose from $200 billion in 2013 to $224 billion in 2014. During the same period, the infla- tion rate was 7%. (Calculate answers to one decimal place.) a) By what percentage did nominal GDP increase between 2013 and 2014? b) By what percentage did real GDP increase between 2013 and 2014? Intermediate (Problems 6-8)
Given the following information, what would the real growth be in 2015? Nominal GDP GDP Deflator 2014$500 billion 200 2015$575 billion 220 O 11% 4.5% O 3.2%
13 A country reported a nominal GDP of $115 billion in 2015 and $125 billion in 2014 and reported a GDP deflator of 85 in 2015 and 100 in 2014. What happened to real output and prices from 2014 to 2015? a. Real output and prices both rose. b. Real output fell and prices rose. c. Real output rose and prices fell. d. Real output and prices both fell. 14. A country reported a nominal GDP of $85 billion in...
Canada’s real GDP was $1,757.6 billion in 2014 and $1762.2 billion in 2015. Canada’s population growth rate in 2015 was 0.8 percent. Calculate: 2a. Canada’s economic growth rate in 2015. 2b. The growth rate of real GDP per person in Canada in 2015. 2c. The approximate number of years it takes for real GDP per person in Canada to double if the 2015 economic growth rate and population growth rate are maintained. 2d. The approximate number of years it takes...
From 2013 to 2014, nominal GDP ______ (Decreased or increased) , and real GDP _______ (Decreased or increased) The inflation rate in 2014 was ________ (-23.1, -0.2, 23.1, 76.9 or 130%) . 5. Real versus nominal GDP Consider a simple economy that produces two goods: apples and muffins. The following table shows the prices and quantities of the goods over a three-year period Apples Muffins Price (Dollars per apple) Price (Dollars per muffin) Year 2012 2013 2014 Quantity (Number of...
Question 1 1 pts Suppose that nominal GDP increased in Econland from $10 Billion to $12 Billion (what is that percentage change? You will need to figure that out to answer the rest of the question!) The inflation rate in Econland during this time was 5% What happened to Real GDP Growth in Econland? (give the BEST answer) It grew by 15% It grew by 50% It grew by 25% It grew by 2%
1. suppose that the nominal GDP in Germany was 560 billion euros in 2011 but grew to 588 billion euros in 2012. in these years the German CPI increased from 210.0 to 214.2. use these data to calculate the % change in the real German GDP between 2011 and 2012.
GDP Inflation Deflator Rate YEAR CPI GDP %GDP | Real GDP | %RGDP (%CPI) |(2015-100) 2012 231.2 95.43 1619 2013 234.72 97.11 16785 2014 236.27 98.94 17522 2015 237.83 100.00 18219 2016 242.7 01.09 1870 2017 247.91 103.02 19485 1. Calculate the annual inflation rate using the CPI. 2. Calculate the annual GDP growth rate using the GDP. 3. Explain how the inflation rate and the GDP growth have been moved. 4. Calculate the real GDP using GDP deflator by...
Year Inflation rate Nominal GDP (billions of current $) 3754 2014 2015 2016 Population (millions) 79 83 88 L 2% 2% 1% 3898 3919 Using the information in the table above, calculate economic growth for 2015. Give your answer to two decimal places, 1st attempt