Year Nominal GDP Real Potential GDP(2005) GDP deflator – Base year 2005 2013 9.269 7730 113...
|
Year |
Nominal GDP |
Real Potential GDP(2005) |
GDP deflator – Base year 2005 |
|
2013 |
9.269 |
7730 |
113 |
|
2014 |
9.873 |
10145 |
118 |
Calculate real GDP in 2013 and 2014 respectfully
Calculate the growth in % of nominal GDP between 2013 and 2014
Calculate the growth in % of real GDP between 2013 and 2014
Explain the difference between the growth of nominal GDP and the growth of real GDP
Cal the output gap in 2013 and 2014 (in %) and state whether the output gap was recessionary of inflationary
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Year
Nominal GDP
Real Potential GDP(2005)
GDP deflator – Base year 2005
2013
9.269
7730
113...
In Macroland, the GDP deflator for 2014 is 105 with 2013 as the base year. Real...
In Macroland, the GDP deflator for 2014 is 105 with 2013 as the base year. Real GDP in 2014 equalled $210 billion. Therefore, nominal GDP in 2014 equalledwhile nominal G DP in 2013 equalled
Check my work Given below are data on real GDP and potential GDP for the United...
Check my work Given below are data on real GDP and potential GDP for the United States for the years 2005-2016, in billions of 2009 dollars. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your responses as a percentage rounded to one decimal place. If you are entering any negative numbers...
Given below are data on real GDP and potential GDP for the nation of Anaziland for...
Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP Instructions: Enter your response as a percentage rounded two decimal places. If you are entering any negative numbers be sure to...
Given below is the the real GDP and potential GDP for the fictitious country "Alpha." a....
Given below is the the real GDP and potential GDP for the fictitious country "Alpha." a. Use the date to determine the the year-to-year growth rates of real GDP, the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate in each year and fill in the missing parts of the table. Use 2014 as the base year. Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number. Price of Quantity of Price of orange ($) Quantity of oranges 700 beach balls beach ball Nominal GDP ($) Real GDP ($)...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate in each year and fill in the missing parts of the table. Use 2014 as the base year. Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number.
Please solve for Growth rate of real GDP and show work Given below are data on...
Please solve for Growth rate of real GDP and show work Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009–2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal...
GDP Inflation Deflator Rate YEAR CPI GDP %GDP | Real GDP | %RGDP (%CPI) |(2015-100) 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...
From 2013 to 2014, nominal GDP ______ (Decreased or increased) , and real GDP _______ (Decreased...
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...
Fill in the missing data in the following table. Year Nominal GDP GDP deflator Real GDP...
Fill in the missing data in the following table. Year Nominal GDP GDP deflator Real GDP $ 2012 $220000 100.0 2013 $215,000 110.0 2014 $260,000 $220,000 2015 $290,000 $ 123.0 2016 $240,000 130.0
In Macroland, the GDP deflator for 2014 is 105 with 2013 as the base year. Real GDP in 2014 equalled $210 billion. Therefore, nominal GDP in 2014 equalledwhile nominal G DP in 2013 equalled
Check my work Given below are data on real GDP and potential GDP for the United States for the years 2005-2016, in billions of 2009 dollars. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your responses as a percentage rounded to one decimal place. If you are entering any negative numbers...
Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP Instructions: Enter your response as a percentage rounded two decimal places. If you are entering any negative numbers be sure to...
Given below is the the real GDP and potential GDP for the fictitious country "Alpha." a. Use the date to determine the the year-to-year growth rates of real GDP, the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front...
Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate in each year and fill in the missing parts of the table. Use 2014 as the base year. Instructions: Round nominal and real GDP values to two decimal places. Round GDP deflator and inflation rate values to the nearest whole number. Price of Quantity of Price of orange ($) Quantity of oranges 700 beach balls beach ball Nominal GDP ($) Real GDP ($)...
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...
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...
Fill in the missing data in the following table. Year Nominal GDP GDP deflator Real GDP $ 2012 $220000 100.0 2013 $215,000 110.0 2014 $260,000 $220,000 2015 $290,000 $ 123.0 2016 $240,000 130.0
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