Help! Please give me an explanation as well
Homework Answers
Nominal GDP represent the actual value of output in respective year whereas Real GDP shows the value of output with respect to the base year.
To Find out the real GDP, we will use the below mentioned formula-
Real GDP = (Nominal GDP/Price Index)*100
Result along with the formula in excel is as mentioned below -
![Book1 Excel Abhishek Rai困- Home nsert Page Layout Formulas Data Review View Help Tell me what you want to do Colors- width: Automatic . Gridlines Headings Height Automatic-| L] View 1x1 View A Fonts Margins Orientation Size Print Breaks Background Print Bring Print L PrintForward Backward Pane Send Selection Align Group Rotate Effects Titles IHScale: |100% Page Setup Scale to Fit Sheet Options C1 丘 Year Year INominal GPD Price Index Real GDP 10284.8 12274.9 14718.6 16155.3 18036.6 81.9 (D2/E2)*100 89.1 (D3/E3) 100 99.2 (D4/E4) 100 105.2 (D5/E5) 100 110 (D6/E6) 100 2012 2015 Year Nominal GPD Price Index Real GDP 10284.8 12274.9 14718.6 16155.3 18036.6 81.9 89.1 99.2 105.2 15356.749 12557.7534 13776.5432 14337.2984 2012 13 2015 16396.9091 17 21 Shee 圈1回凹ー :rJs Ready Display Settings + 100% ENG US 4:15 PM 24-Jan-19 Type here to search ^ Mi](http://img.homeworklib.com/questions/9297d770-434b-11ea-820f-77d50e34b28c.png?x-oss-process=image/resize,w_560)
Given that,
In year 1, each bucket of chicken was priced at $15 and production was 7500
In year 2, each bucket of chicken was priced at $21 and production was 24000
And base year is Year 2
So price index of year 1 = (Price in year 1/Price in base year)*100
Price Index of Year 1 = (15/21)*100 = 71.428 ~ 71.43
Add Answer to:
Help! Please give me an explanation as well The following table shows nominal GDP and an...
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...
Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2016 using...
Instructions: Enter your
responses rounded to the nearest billion.
a. Calculate real GDP for 2016 using 2000 prices.
$ billion
b. By how much did real GDP increase between 2000 and 2016?
$ billion
c. By how much did nominal GDP increase between 2000 and
2016?
$ billion
Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of Dollars) (Price Index 2009 100) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009...
Problem 27-6 (Algo) Suppose that in 1984 the total output in a single-good economy was 10,000...
Problem 27-6 (Algo) Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $15. Finally, assume that in 2005 the price per bucket of chicken was $20 and that 22,000 buckets were produced. Instructions: In part a, enter your answer as an index number rounded to 1 decimal place. In parts b-c, enter your answers as whole numbers. a. What is the...
The following table shows nominal GDP and an appropriate price index for a 5 year period. Using the values in the...
The following table shows nominal GDP and an appropriate price index for a 5 year period. Using the values in the table, calculate the value of real GDP for each year. Enter your response at whole numbers) dominal GOP Real GDP (illions Mons of dollars) Price Index of dollars) The economy above has experience OA rising price level O ring real GOP throughout the son of rang real GDP in only some of the O Click to select your answers)...
The following table shows nominal GDP and an appropriate price index for a group of selected year...
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. Nominal GDP Year 1968 1978 1988 1998 2008 Price Index 2005 100 22.01 40.40 66.98 85.51 108.48 Real GDP, Billions Effect on Nominal GDP Billions $909.80 2293.80 5100.40 8793.50 14441.40 0.00 increase /...
Nominal and real GDP The accompanying table shows data on nominal GDP (in billions of dollars),...
Nominal and real GDP The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2007 dollars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966–2016. Year nominal GDP ( billions of dollars) real GDPBILLIONS OF 2007 DOLLARS POPULATION thousands 1966 64.8 431.9 19998 1976 200 658 23414 1986 524.5 897 26067 1996 857 1104.3 29570 2006 1492.2 1541.7...
(3) Fill in the missing numbers. Show your computations. (4) (2) GDP Price Nominal GDP, Real...
(3) Fill in the missing numbers. Show your computations. (4) (2) GDP Price Nominal GDP, Real GDP, Index Year Billions Billions (2009 = 100) 1995 $ 7,664.0 $10,167.3 2000 10,289.7 81.9 2005 13,095.4 14,235.6 92.0 2009 14,417.9 100.0 2010 14,958.3 14,779.4 101.2 2015 17.947.0 16,348.9 109.8
8. accompanying table shows data on nominal GDP in billions of dollars), real GDP (in billions...
8. accompanying table shows data on nominal GDP in billions of dollars), real GDP (in billions of 2007 doll lars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966-2016. Nominal GDP (billions of dollars) $64.8 200.0 524.5 857.0 Real GDP (billions of Population 2007 dollars) (thousands) Year 1966 1976 1986 1996 2006 2016 $431.9 19 998 23 414 26 067 29 570 32 529 658.0...
Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 =...
Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 = base year) Growth (%) in Real GDP from previous year 1977 2,030.9 4,750.5 42.8 6.4% 1978 2,294.7 45.8 1998 8,747.0 9,066.9 4.2% 1999 9,268.4 97.9 2000 9,817.0 9,817.0 2001 10,128.0 9,890.7 2002 10,487.0 10,074.8 104.1 2003 11,004.0 106.0 2004 11,735.0 108.3 6.What was the price index value for the US in the base year? 7.What was real GDP for the US in the year...
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Ind...
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Index was 177.1 (using 1999 as the base year). Estimate the real GDP for 2012 4. In 2015 US Real GDP was $16,547.6 billions of dollars; in 2016, US Real GDP was $16,851.4 billions of dollars. Estimate the economic growth rate for the period 2016-2015.?
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...
Instructions: Enter your
responses rounded to the nearest billion.
a. Calculate real GDP for 2016 using 2000 prices.
$ billion
b. By how much did real GDP increase between 2000 and 2016?
$ billion
c. By how much did nominal GDP increase between 2000 and
2016?
$ billion
Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of Dollars) (Price Index 2009 100) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009...
Problem 27-6 (Algo) Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $15. Finally, assume that in 2005 the price per bucket of chicken was $20 and that 22,000 buckets were produced. Instructions: In part a, enter your answer as an index number rounded to 1 decimal place. In parts b-c, enter your answers as whole numbers. a. What is the...
The following table shows nominal GDP and an appropriate price index for a 5 year period. Using the values in the table, calculate the value of real GDP for each year. Enter your response at whole numbers) dominal GOP Real GDP (illions Mons of dollars) Price Index of dollars) The economy above has experience OA rising price level O ring real GOP throughout the son of rang real GDP in only some of the O Click to select your answers)...
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. Nominal GDP Year 1968 1978 1988 1998 2008 Price Index 2005 100 22.01 40.40 66.98 85.51 108.48 Real GDP, Billions Effect on Nominal GDP Billions $909.80 2293.80 5100.40 8793.50 14441.40 0.00 increase /...
(3) Fill in the missing numbers. Show your computations. (4) (2) GDP Price Nominal GDP, Real GDP, Index Year Billions Billions (2009 = 100) 1995 $ 7,664.0 $10,167.3 2000 10,289.7 81.9 2005 13,095.4 14,235.6 92.0 2009 14,417.9 100.0 2010 14,958.3 14,779.4 101.2 2015 17.947.0 16,348.9 109.8
8. accompanying table shows data on nominal GDP in billions of dollars), real GDP (in billions of 2007 doll lars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966-2016. Nominal GDP (billions of dollars) $64.8 200.0 524.5 857.0 Real GDP (billions of Population 2007 dollars) (thousands) Year 1966 1976 1986 1996 2006 2016 $431.9 19 998 23 414 26 067 29 570 32 529 658.0...
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Index was 177.1 (using 1999 as the base year). Estimate the real GDP for 2012 4. In 2015 US Real GDP was $16,547.6 billions of dollars; in 2016, US Real GDP was $16,851.4 billions of dollars. Estimate the economic growth rate for the period 2016-2015.?
Most questions answered within 3 hours.
-
LawVIEW Question:
As you saw in your second-order system experiments, your systems
oscillate to a change...
asked 24 minutes ago -
consider the titration of 50mL of 1.5 M HCOOH with .50 M NaOH.
Ka= 1.8x10^-4 &...
asked 1 hour ago -
"provide products and mechanisms for (z)-3,4-dimethyl-2-pentene
reaction with Br2 in H2o including stereochemisty"
asked 3 hours ago -
FOR the regular expression r= (a+b)*abb
(1) Find the NFA without ε-moves for r.
(2) Convert...
asked 3 hours ago -
what are the moles of, 1.87 g SiO2, 0.95 g NH4Cl, and 2.46g
NaCl?
asked 3 hours ago -
Transaction costs, as they relate to dividend policy,
A)
include the costs of brokerage fees.
B)...
asked 3 hours ago -
Which of the following is a true statement about
inpatriates?
A. Inpatriates are foreign employees who...
asked 3 hours ago -
I've written this program in C++ to compare 2 pizzas using
classes and it works fine....
asked 3 hours ago -
Assume the following information:
Work-in process, beginning 100 units, 25% complete
Units completed and transferred out...
asked 3 hours ago -
what was responsible for factory reforms and improved safety
working conditions? The triangle fire, the jungle,...
asked 3 hours ago -
In 2009, the average starting salary for an individual right out of
college with a bachelor’s...
asked 3 hours ago -
An elevator has a placard stating that the maximum capacity is
1550 lb — 10 passengers....
asked 3 hours ago