Homework Answers
Solution: $1,000
Working:
|
Year |
Price |
Quantity |
|
2014 |
2.5 |
300 |
|
2016 |
3 |
400 |
To compute RGDP in 2016 we need to multiply the quantity in 2016 with the price in the base year, which is year 2014 i.e. 400* 2.5 = 1,000
Add Answer to:
A south sea island produces only coconuts In 2014, the price of a coconut is $2.50...
An economy produces only robots, pens, and pizza
An economy produces only robots, pens, and pizza The table gives the quantities produced and prices in 2016 and 2017 The base your is 2016 What is nominal GDP in 2016 and in 2017? Nominal GDP in 2016 is $_______ Nominal GDP in 2017 is $_______ A south sea island produces only coconuts In 2010, the price of a coconut is $2.00 and the quantity produced is 350 In 2017, the price of a coconut is $1.50 and the quantity produced is 300 2010 is the base year Real GDP...
Consider an economy that only produces two goods: strawberries and cream. Use the table below to...
Consider an economy that only produces two goods: strawberries and cream. Use the table below to compute nominal GDP, real GDP, and the GDP deflator for each year. (Year 2014 is the base year.) Year Price of strawberries Quantity of strawberries 2014 100 Price of Quantity cream of cream $3.00 | 200 $3.50 400 $4.00 500 | 2015 | $2.00 | 2016 $3.00 125 150 Year Nominal GDP Real GDP GDP deflator 2014 100 $ 700 $ 700 2015 118...
Price Year Price of Quantity of strawberries strawberries of Quantity of cream 2014 $0.75 2015 $2.00...
Price Year Price of Quantity of strawberries strawberries of Quantity of cream 2014 $0.75 2015 $2.00 2016 $3.00 100 125 150 cream $3.00 $3.50 $4.00 200 400 500 Year Nominal GDP Real GDP GDP deflator 2014 $ 675 $ 675 2015 $ 1650 $ 1293.7 2016 $ 2050 $ 2450 119.5
The country of Aruba produces only cakes and coffee. Quantities and prices of these goods for...
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...
@ Consider an economy that only produces two goods: strawberries and cream. Use the table below...
@ Consider an economy that only produces two goods: strawberries and cream. Use the table below to compute the nominal GDP, real GDP, the GDP deflator for each year, and the inflation rate. The year 2015 is the base year. SHOW ALL WORK. Year Price of strawberries (per pint) The number of strawberries (pints) Price of cream (per pint) The quantity of cream (pints) 2015 $3.00 100 $2.00 200 2016 $4.00 125 $2.50 400 2017 $5.00 150 $3.00 500 @...
QUESTION 3 1301 Table below shows the price per kilogram (kg) and quantity of each of the three raw materials X, Y and Z for 2014, 2015 and 2016. Material Price (RM) Quantity (kg) 2014 2015 20162...
QUESTION 3 1301 Table below shows the price per kilogram (kg) and quantity of each of the three raw materials X, Y and Z for 2014, 2015 and 2016. Material Price (RM) Quantity (kg) 2014 2015 20162014 2015 2016 X 1.20 0.60 0.80 400 500 300 Y 1.50 2.00 2.50 300 450 350 Z 3.00 5.50 5.00 300 250 400 Calculate the a) Relative quantity index for materials X and Z for 2016 using 2014 as the base year and...
(8) The country described in the table below produces and consumes only three goods: ice cream,...
(8) The country described in the table below produces and
consumes only three goods: ice cream, chocolate cake, and t-shirts.
The quantity produced and price of each good in 2016 and 2017 are
provided.
Price 2016 Quantity 150 600 2017 Quantity 170 Price $22 $1.50 $20 $2 Good t-shirts Ice cream (scoops Chocolate cake (slices) 600 1.200 $2.25 1.100 $3 a. What is nominal GDP for 2016? b. What is nominal GDP for 2017? C. Assuming that 2017 is the...
Consider an economy that only produces and consumes milk and cars. In the table are data...
Consider an economy that only produces and consumes milk and cars. In the table are data from 2 different years Year 2000 Year 2016 Price for a litre of milk $1 $2 # of milks produced 500 400 Price for a car $50 $100 # of cars produced 100 120 a) using the year 2000 as a base year, compute for 2000 and 2016 for the following statistics: nominal GDP, real GDP, price deflator and the CPI b) How much...
Consider an economy that only produces and consumes milk and cars. In table 1 are data...
Consider an economy that only produces and consumes milk and cars. In table 1 are data from two different years. Table 1: GDP and Prices Year 2000 Year 2016 Number of milks produced Price of a car Number of cars produced S1$2 500 S50 100 400 $100 120 (a) Using the year 2000 as the base year, compute for 2000 and 2016 the following statistics: nominal GDP, real GDP, the price deflator and the CPI. 15 points b) How much...
Consider the table. Shirts Pants Year Price Quantity Price Quantity 2013 $7.50 750 $12.50 4000 2014...
Consider the table.
Shirts
Pants
Year
Price
Quantity
Price
Quantity
2013
$7.50
750
$12.50
4000
2014
$12.00
600
$18.50
3500
The table contains prices and output for a two good economy.
Nominal and real GDP in 2013 are both $55,625. Use the information
in the table to answer the questions.
What is nominal GDP in 2014?
$
What is real GDP in 2014? Use 2013 as the base year.
$
Real output from 2013 to 2014 has
stayed the same....
Consider an economy that only produces two goods: strawberries and cream. Use the table below to compute nominal GDP, real GDP, and the GDP deflator for each year. (Year 2014 is the base year.) Year Price of strawberries Quantity of strawberries 2014 100 Price of Quantity cream of cream $3.00 | 200 $3.50 400 $4.00 500 | 2015 | $2.00 | 2016 $3.00 125 150 Year Nominal GDP Real GDP GDP deflator 2014 100 $ 700 $ 700 2015 118...
Price Year Price of Quantity of strawberries strawberries of Quantity of cream 2014 $0.75 2015 $2.00 2016 $3.00 100 125 150 cream $3.00 $3.50 $4.00 200 400 500 Year Nominal GDP Real GDP GDP deflator 2014 $ 675 $ 675 2015 $ 1650 $ 1293.7 2016 $ 2050 $ 2450 119.5
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...
QUESTION 3 1301 Table below shows the price per kilogram (kg) and quantity of each of the three raw materials X, Y and Z for 2014, 2015 and 2016. Material Price (RM) Quantity (kg) 2014 2015 20162014 2015 2016 X 1.20 0.60 0.80 400 500 300 Y 1.50 2.00 2.50 300 450 350 Z 3.00 5.50 5.00 300 250 400 Calculate the a) Relative quantity index for materials X and Z for 2016 using 2014 as the base year and...
(8) The country described in the table below produces and
consumes only three goods: ice cream, chocolate cake, and t-shirts.
The quantity produced and price of each good in 2016 and 2017 are
provided.
Price 2016 Quantity 150 600 2017 Quantity 170 Price $22 $1.50 $20 $2 Good t-shirts Ice cream (scoops Chocolate cake (slices) 600 1.200 $2.25 1.100 $3 a. What is nominal GDP for 2016? b. What is nominal GDP for 2017? C. Assuming that 2017 is the...
Consider an economy that only produces and consumes milk and cars. In table 1 are data from two different years. Table 1: GDP and Prices Year 2000 Year 2016 Number of milks produced Price of a car Number of cars produced S1$2 500 S50 100 400 $100 120 (a) Using the year 2000 as the base year, compute for 2000 and 2016 the following statistics: nominal GDP, real GDP, the price deflator and the CPI. 15 points b) How much...
Consider the table.
Shirts
Pants
Year
Price
Quantity
Price
Quantity
2013
$7.50
750
$12.50
4000
2014
$12.00
600
$18.50
3500
The table contains prices and output for a two good economy.
Nominal and real GDP in 2013 are both $55,625. Use the information
in the table to answer the questions.
What is nominal GDP in 2014?
$
What is real GDP in 2014? Use 2013 as the base year.
$
Real output from 2013 to 2014 has
stayed the same....
Most questions answered within 3 hours.
-
The price of 1 lb of potatoes is $1.75. If all the potatoes sold
today at...
asked 44 minutes ago -
Garcia Company issues 20.00%, 15-year bonds with a par value of
$470,000 and semiannual interest payments....
asked 42 minutes ago -
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 1 hour ago -
Effect of DCMU and sodium azide on Chlamydomonas? We did an
experiment where we had Chlamydomonas...
asked 2 hours ago -
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 3 hours ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 4 hours ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 5 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 5 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 6 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 6 hours ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 7 hours ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 8 hours ago