if prices increase we need to adjust nominal GDP values to give us a measure of...
if prices increase we need to adjust nominal GDP values to give us a measure of GDP for various years in constant-dollar terms refer to that adjustment as
Homework Answers
Ans) Deflating GDP
Deflating GDP is the adjustment of nominal GDP for various years in constant-dollar terms
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if prices increase we need to adjust nominal GDP
values to give us a measure of...
A rise in oil prices has caused input prices to increase throughout the economy, causing nominal GDP to increase by 13%....
A rise in oil prices has caused input prices to increase throughout the economy, causing nominal GDP to increase by 13%. Meanwhile, the price level decreases by 2%. What is the real GDP growth rate during this period?
If productivity increases from one year to the next, only nominal GDP would increase. only real...
If productivity increases from one year to the next, only nominal GDP would increase. only real GDP would increase. nominal and real gross domestic product would increase. If inflation occurs in a given year, the change in the real measurement (GDP) would be equal to the change in the nominal one. the change in the real measurement (GDP) would be smaller than the change in the nominal one. the change in the real measurement (GDP) would be greater than the...
34. Question 34 of 60 > The difference between nominal GDP and real GDP is that...
34.
Question 34 of 60 > The difference between nominal GDP and real GDP is that nominal GDP: O measures a country's production of finished goods and services at fixed prices, whereas real GDP measures a country's production of all finished goods and services at current market prices. measures the total value of only finished goods and services, whereas real GDP measures the value of all goods and services, both intermediate and finished. measures a country's production of finished goods...
23) Suppose in current dollar terms, GDP increased by approximately 7 percent between one pet likely?...
23) Suppose in current dollar terms, GDP increased by approximately 7 percent between one pet likely? and the next, but real GDP fell by 2 percent. Which one of the following explanations is im A) Prices fell by 9 percent B) Prices increased by 9 percent C) Prices fell by 2 percent. D) Output rose by 2 percent. E) Prices increased by 7 percent. ulse the table belous to answer the foloving questions Table 20.2.5 Data From Southton Price (dollars)...
Need help, please show work 2. The table below provides the nominal and real GDP figures...
Need help, please show work
2. The table below provides the nominal and real GDP figures for the years 2016 and 2017. a) Calculate the GDP deflator for each year and the inflation rate for the year 2017. GDP Deflator Nom. GDP Real GDP 2016 2017 400 525 100 105 b) If the nominal interest rate on a certificate of deposit (CD) was 50% during 2017, what was the realized (ex-post) real interest earned by a depositor? [Hint real interest...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
. To measure GDP by using income approach we need to include: A) Personal consumption, business...
. To measure GDP by using income approach we need to include: A) Personal consumption, business investments, government expenditure and net export B) Compensation of employees and net operating surplus C) The value of goods and services at market prices D) The value of all final goods and services produced anywhere in the world by American producers
2. Suppose real GDP for the US in 2018 was $20 trillion and real GDP for...
2. Suppose real GDP for the US in 2018 was $20 trillion and real GDP for the US in 2019 was $25 trillion. What is the value of GDP growth 2018 to 2019? A. 5% B. 20% C. 25% D. 50% E. Not enough information 3. Inflation represents: A. an increase in output. B. an increase in the aggregate price level. C. an increase in the unemployment rate. D. all of the above E. none of the above 4. Okun's...
34. All of the following will increase potential real GDP except a. an increase in the...
34. All of the following will increase potential real GDP except a. an increase in the amount of natural resources available. b. an increase in the percentage of the population that attends college. c. an increase in the cost of living (money prices). d. an improvement in technology. 35. Which of the following is not a problem associated with Real GDP as a measure of social welfare? a. It excludes intermediate goods as a separate entry. b. It does not...
Which of these is the most ideal measure of aggregate output? a. nominal GDP &
Which of these is the most ideal measure of aggregate output? a. nominal GDP b. real GDP c. gross national product d. personal income e. disposable income How is GDP calculated? a. by subtracting the value of all goods and services produced by the government and the value of those produced by the private sector b. by measuring the economy's price level during a particular year c. by adding up the quantity of all goods...
34.
Question 34 of 60 > The difference between nominal GDP and real GDP is that nominal GDP: O measures a country's production of finished goods and services at fixed prices, whereas real GDP measures a country's production of all finished goods and services at current market prices. measures the total value of only finished goods and services, whereas real GDP measures the value of all goods and services, both intermediate and finished. measures a country's production of finished goods...
23) Suppose in current dollar terms, GDP increased by approximately 7 percent between one pet likely? and the next, but real GDP fell by 2 percent. Which one of the following explanations is im A) Prices fell by 9 percent B) Prices increased by 9 percent C) Prices fell by 2 percent. D) Output rose by 2 percent. E) Prices increased by 7 percent. ulse the table belous to answer the foloving questions Table 20.2.5 Data From Southton Price (dollars)...
Need help, please show work
2. The table below provides the nominal and real GDP figures for the years 2016 and 2017. a) Calculate the GDP deflator for each year and the inflation rate for the year 2017. GDP Deflator Nom. GDP Real GDP 2016 2017 400 525 100 105 b) If the nominal interest rate on a certificate of deposit (CD) was 50% during 2017, what was the realized (ex-post) real interest earned by a depositor? [Hint real interest...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
2. Suppose real GDP for the US in 2018 was $20 trillion and real GDP for the US in 2019 was $25 trillion. What is the value of GDP growth 2018 to 2019? A. 5% B. 20% C. 25% D. 50% E. Not enough information 3. Inflation represents: A. an increase in output. B. an increase in the aggregate price level. C. an increase in the unemployment rate. D. all of the above E. none of the above 4. Okun's...
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