The GDP deflator formula can be used in a variety of ways. Use it to answer...

Question

Question

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

GDP deflator = (Nominal GDP/ Real GDP )*100

Real GDP = Nominal GDP / (0.01*GDP deflator)

1) NGDP in 2012 = RGDP X GDP deflator /100

NGDP in 2012 = 2200*140/100

NGDP = 3080

2)

Year	N GDP	R GDP	GDP deflator = (N GDP/RGDP)*100
2010	700	200	(700*100/200) = 350
2011	1800	1100	(1800*100/1100)= 163.64

3)

Year	N GDP	GDP deflator	R GDP = (N GDP *100/ GDP deflator)
2013	3500	160	(3500*100/160) = 2187.5

Add a comment

Answer 2

Similar Homework Help Questions

The GDP deflator formula can be used in a variety of ways. Use it to answer...

The GDP deflator formula can be used in a variety of ways. Use it to answer the questions that follow. Round final answers to two decimal places, as needed. Real GDPGDP deflator 2012 $2100.00 140.00 nominal GDP in 2012 $ 2010$600.00 2011 $1900.00 Nominal GDPReal GDP $300.00 $1200.00 2010 GDP deflator 2011 GDP deflator - Nominal GDP GDP deflator 2013 $3700.00 160.00 real GDP in 2013 $
Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation...

Based on the table below, calculate nominal GDP real GDP, the GDP deflator, and the infation rate in each year and fill in the missing parts of the table Use 2010 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 Quantity Price of Quantity Price of Real GOP ($) GOP deflator Inflation rate (%) Year of orange of beach beach ball GDP...
Use the data in the corresponding table to answer the given questions. If the GDP deflator...

Use the data in the corresponding table to answer the given questions. If the GDP deflator in 2005 is 100, what is the GDP deflator in 1985? Please specify answer to one decimal place. Year Real GDP ($) Nominal GDP ($) 1985 1015 1679 1995 10405 12061 2005 20483 20483 1985 GDP deflator: The price level is lowest in: A) 2005 B) 1995 C) 1985 Between 1985 and 1995, ____ occurred. a) inflation b) deflation

Year 2000 GDP Deflator (Price Index, 2009 = 100) 81.9 83.8 85.0 2001 2002 2003 2004...

Year 2000 GDP Deflator (Price Index, 2009 = 100) 81.9 83.8 85.0 2001 2002 2003 2004 2005 & 2007 Nominal GDP (in Billions of Dollars) 9,817 10.128 10.469 10,960 11,685 12,422 13,178 13,808 14,291 13,939 14,524 15,518 16,163 16,768 17,393 18,037 18,569 2008 2009 2010 2011 2012 2013 2014 2015 2016 100.0 101.2 103.3 105.2 106.7 108.8 110.0 111.4 Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2015 using 2007 prices. $0 billion b....
Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2010-2013. Table 2 gives the fixed basket used for calcula

Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2010-2013. Table 2 gives the fixed basket used for calculating the CPI. Assume that the base year is 2011 and show your work! Table 1 - Price and Quantity of Goods Sold in 2010-2013 2010 2011 2012 2013 P Q P O P Q 25 Computers Cars...
Just the last question is needed please. cld-5697 Econ1101 Macro Principles-003 Sara Shanko & 9/19/19 1:49...

Just the last question is needed please. cld-5697 Econ1101 Macro Principles-003 Sara Shanko & 9/19/19 1:49 PM Homework: Nominal vs Real GDP, PPP adjustment Save Score: 0.27 of 1 pt 10 of 19 (18 complete) HW Score: 63.35 % , 16.47 of 26 pts Text Problem 8 Question Help T-Shirts 90 $24 108 $24 Red Bull (cans) 480 $1 480 $2 Pizza (slices) 1040 $2 960 $4 Nominal GDP in 2011 was $ 4720 and nominal GDP in 2012 was...

Let’s look at GDP and foreign exchange in Iceland. We can extract the following data from...

Let’s look at GDP and foreign exchange in Iceland. We can extract the following data from the World Bank, which maintains a database of economic data for all countries: Fill in the blanks in the table using the formulas from the assigned reading (a bit of algebra is required): 2010 2011 2012 2013 2014 2015 2016 Nominal GDP ($ billions) 1627.11 1708.31 1787.68 1899.68 2020.55 GDP deflator 100.00 102.97 106.35 119.57 122.10 Real GDP ($ billions) 1753.35 1791.93 1869.19 2009.03...
1. Year Nominal GDP GDP Price deflator Real GDP Inflation Rate

1. Year Nominal GDP GDP Price deflator Real GDP Inflation Rate Growth Rate 2008 $14,833.60 99.23 -- -- 2009 14,417.90 100.00 2010 14,779.40 101.21 2011 15,052.40 103.20 2012 15,470.70 105.00 2013 15,759.00 106.59 2014 17,420.70 108.27 2015 18,287.20 110.01 2016 18,905.50 112.08 2017 19,738.90 114.27 a. Fill in the blanks in the table above and show your work. b. Over this time period, does inflation...
question 1: nominal GDP for 2016 question 2: real gdp for 2015 question 3: GDP deflator...

question 1: nominal GDP for 2016 question 2: real gdp for 2015 question 3: GDP deflator for 2014 question 4: calculate cost/price of the market basket for 2015 question 5: calculate CPI for 2016 question 6: use CPI to calculate the inflation rate from 2014 to 2015 question 7: which person makes more in inflation-adjusted terms or (real) terms? would it change if nick made 82k a year instead? question 8: best too look at pic. Note: please show work...

Note the return series below and answer the following questions 1. What is the average nominal...

Note the return series below and answer the following questions 1. What is the average nominal return earned on large company stocks? (Enter percentages as decimals and round to 4 decimal places) 2. What is the average real return earned on large company stocks? (Enter percentages as decimals and round to 4 decimal places) 3. What is the average risk premium earned on large company stocks? (Enter percentages as decimals and round to 4 decimal places) 4. What is the...

The GDP deflator formula can be used in a variety of ways. Use it to answer...

Homework Answers