ZuoTi.Pro
Question

The table below shows the GDP deflator and the CPI over the past five years. By what percentage did prices change between years for each measure? nstructions: Enter your answers as percentages rounded to one decimal place. Change in GDP Change in CP Year 2005 2006 2007 2008 2009 2005-2009 GDP deflator 100 105 112 123 127 100 104 110 113 120
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Below is the formula used to calculate Change in GDP deflator Deflator of Year2-Deflator of Yearl Deflator of Year1 Change in GDP Deflator- x100 Below is the formula used to calculate Change in CPI CPI Year2 CPI Year 1 Change in CPI- x 100 CPI of year 1 Below table shows the calculation of change in GDP deflator and CPI: Change in GDP Change in CPI GDP 1 Yea Deflator deflator CPI 2012 2013 2014 2015 2016 100 105 113 123 127 7.62 8.85 3.25 27 100 104 112 113 7.69 0.89 6.19 20 7 2012-201 Below table shows the formulas used for the calculation: Change in GDP 1 Year 2 2012 3 2013 4 2014 5 2015 6 2016 7 2012-2016 GDP Deflator deflator 100 105 113 123 127 CPI 100 (B3-B2)/B2100104 (B4-B3)/B3 100112 Change in CPI (D3-D2)/D2 100 (D4-D3)/D3*100 (B5-B4)/B4 100 113 (DS-D4)/D4 100 B6-B5)/B5*100 120 (D6-D5)/D5*100 27 20     

OR

. Change in the GDP deflator between any two periods- (GDP deflator at current period -GDP deflator at previous period)/GDP deflator at previous periodl]*100 Change in the CPI between any two periods t and t-1- (CPI at current period t CPI at previous period t-1)/CPI at previous period t-1]*100 Change in the CPI between any two periods t and t-n-(CPI at current periodt CPI at period t-n)/(CPI at previous period (t-n))*nl*100o Where n>1 is the difference between 2 periods. Same holds for change in GDP deflator over 2 periods t & t-n. Both % change in CPI & GDP Deflator gives the inflation rate.Change Change GDP in GDP deflatordeflator Year CPI in CPI 0 100 104 4 2005 2006 2007 2008 2009 2005-2009 100 105 5 113 7.62110 5.77 125 10.62 114 3.64 127 1.6120 5.26 6.75

0 1
Add a comment
Know the answer?
Add Answer to:
The table below shows the GDP deflator and the CPI over the past five years. By...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The table below shows the GDP deflator and the CPI over the past five years. By...

    The table below shows the GDP deflator and the CPI over the past five years. By what percentage did prices change between years for each measure? Instructions: Enter your answers as percentages rounded to two decimal places. Year Change in GDP deflator CPI GDP deflator 100 Change in CPI 2015 2016 105 100 104 110 113 2017 2018 2019 2015-2019 112 123 128 122

  • The table below shows the GDP deflator and the CPI over five recent years. By what...

    The table below shows the GDP deflator and the CPI over five recent years. By what percent did prices change between years for each measure? Calculate the annual inflation rate and then the inflation rate across the entire time period. Instructions: Enter your answers as percentages rounded to two decimal places. Change in GDP deflator Year 2012 2013 Change in CPI GDP deflator 100 105 CPI 100 104 2014 112 2015 123 110 113 120 2016 127 2012-2016

  • Using the Consumer Price Index (CPI) detailed in the table below, Year CPI CPI Year 2003...

    Using the Consumer Price Index (CPI) detailed in the table below, Year CPI CPI Year 2003 1989 1990 1991 1992 1993 1994 1995 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 2004 2005 2006 2007 2008 2009 2010 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 229.6 233.0 236.7 237.0 240.0 1996 1997 1998 1999 2000 2011 2012 2013 2014 166.6 172.2 177.1 179.7 2001 2002 2015 2016 Instructions: Enter your responses rounded to one decimal place...

  • Which measure of inflation means most to U.S. households? A the CPI B the GDP deflator...

    Which measure of inflation means most to U.S. households? A the CPI B the GDP deflator C the PPI Deflation occurs when the average level of prices A falls rises Between 2001 and 2008, which country experienced very rapid hyperinflation? The velocity of money is usually A constant (fixed) B stable and predictable C volatile and unpredictable Inflation is A always and everywhere a monetary phenomenon B moderate or non-existent under commodity-money standards C both A and B are true...

  • GDP deflator Year Nominal GDP Population Size ($ billions (millions 2008 3,275 310 2009 3,400 312...

    GDP deflator Year Nominal GDP Population Size ($ billions (millions 2008 3,275 310 2009 3,400 312 2010 3,350 314 Table L: Economic Data for a Hypothetical Economy 104 107 109 119. Consider the economic data provided for a hypothetical economy in Table L above. What is the real GDP growth rate from 2008-09 for the economy depicted in Table L? (If necessary, at each stage of calculation, round to the nearest 1/100th (0.00).) A. -3.39% B. -3.28% C. -1.47% D....

  • 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...

  • 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....

  • 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...

  • 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...

  • 7. Study the table below and identify the following: a. years in which the economy expanded...

    7. Study the table below and identify the following: a. years in which the economy expanded b. years in which the economy contracted c. peaks d. troughs Year 1998 Annual Percentage Change in Real GDP (2007 $) -3.1 2.6 5.7 5.2 2.8 4.6 Year 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 Annual Percentage Change in Real GDP (2007 $) 4.1 5.4 5.4 1.4 2.7 2.0 3.1 3.2 2.4 2.2 1.1 -2.9...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT