If nominal GDP is $7,600 billion and the GDP deflator is 121, then real GDP is: O $9,196 billion O $6,281 billion O $7,479 billion O $ 6,923 billion
Q: Refer to Table Above. What is the value of GDP? O $1,150 billion O $1,210 billion O $1,060 billion O…
A: GDP or the gross domestic product refers to the value of all final and finished goods and services…
Q: If Ralph pays someone to mow his lawn and Norton mows his own lawn, what is the impact on GDP? O a.…
A: The economics as a study is based upon the idea that the resources which are available with the…
Q: If nomiņal GDP is 10trillion and real GDP is 12trillion then the GDP deflator is: O 120, indicating…
A: GDP is the value of final goods and services produced in an economy over a period of time. Nominal…
Q: If in some year nominal GDP was $40 billion and the GDP deflator was 70, what was real GDP? O $30.0…
A: Over the course of a year, the GDP deflator measures the price level of all new, domestically…
Q: Why is it essential to differentiate between real and nominal growth rates of GDP? O A. The nominal…
A: Real growth rate = Nominal growth rate - Inflation rate, so Nominal growth rate = Real growth rate +…
Q: Consider two cars manufactured by Chevrolet in 2017. During 2017, Chevrolet sells one of the two…
A: Gross domestic product (GDP) is the sum of money value of goods and services produced in an economy,…
Q: Production Year1 Year 2 Year 3 Good X 50 50 60 Good Y 100 120 140 Select one: Assume that this…
A: Nominal GDP is that GDP which are calculated on current year price on the other Real GDP is that GDP…
Q: Refer to problem 2. What is the unplanned inventory change when GDP is equal to $2300? * O $40 -$40…
A: When the planned aggregate expenditure is equal to the real GDP will yield equilibrium in the…
Q: Year (billions of 2000 dollars) 2009 16,200 2010 17,500 Refer to the above table. Using the table…
A: Real GDP measures the market value of goods and services using constant sets of prices.
Q: During 2008, The rawhide company produced enough rawhide for 1000 dog chews. The dog chew…
A: NOTE: We'll answer the first question since the exact one wasn't specified. Please submit a new…
Q: The total market value of all final goods and services produced within a given period by factors of…
A: Factors of production: - The inputs that are used to produce goods and services known as the factors…
Q: Which of the following doesn't have increasing function? O a. Saving function O b. Consumption…
A: In economics, a function is said to be increasing when the value of independent variable increases,…
Q: Refer to the information provided in Table 6.10 below to answer the question(s) that follow. Table…
A: Answer is A
Q: Currently, in the U.S. economy, the largest component on the expenditures side of the GDP equation…
A: The economies tend to work upon the basis of the expenditures done by various entities, and the…
Q: Refer to problem 2. The equilibrium level of real GDP is * O $2,500 O $2,400 O $2,300 O $2,200
A: The real GDP is said to be at equilibrium when the total amount of output produced in an economy is…
Q: Net Foreign Factor Income $8 Corporate Profits 47 Gross Private Domestic 73 Investment Proprietors…
A: Net earnings is described as disposable earnings. It is the quantity final after taxes. After-tax…
Q: Consider the following Macro model: GDP Y=C+Gl+GP+NX C=120 +0.80Y, G.I-80 G.P=60 Tax 100 NX= -20 Yd…
A: GDP refers to the total value of finished goods and services that produced within the economic…
Q: The GDP of the U.S. in 2014 was around $17.4 trillion. This means Lütfen birini seçin: O A. that…
A: Gdp is the value of all the goods and services produced in an country during a particular period of…
Q: QUESTION 1 Below is the data for an economy in the year 2016. Gross Domestic Product = $25,000…
A: Aggregate expenditure is the sum of consumption, investment, government spending and net exports.
Q: The following data give the dates of successive turning points in economic activity and the…
A: The business cycle represents those periods of cyclical fluctuations that occur in an economy in…
Q: In 2009 gross investment was $1.9 trillion and depreciation was $2.6 trillion. How much was nết…
A: Investment is an important aspect for the economy. Entrepreneur starts business with other factors…
Q: Consumption expenditure Investment Government expenditure on goods and services Exports of goods and…
A: Gross Domestic Product (GDP) is defined as the monetary value of all final goods and services…
Q: A country has a GDP of $250 billion dollars. The consumption in that country is $30 billion. There…
A: Note: You have uploaded two questions simultaneously. Hence, we shall solve the first question for…
Q: Which of the following are included in the income approach to calculating GDP? ..... O A. corporate…
A: the formula for calculating by income approach =W + R + I + PR wages is defined as the incomes…
Q: GDP includes the goods and services produced O A. within a country's borders by citizens and by non…
A: To analyze the actual output generated by the people of the country and total amount of income…
Q: If GDP is currently $13 trillion and is growing at a rate of 4.1% per year, how long will it take…
A: When Real GDP increases from $ 13 trillion to $ 26 trillion, it gets doubled.
Q: Assume an economy produces only footballs and bascballs and the base year is 2017. Quantity Produced…
A: GDP is the sum total of market value of final goods and services produced in a country during a…
Q: If real GDP is $2200 billion, the GDP deflator is 110, nominal net exports are $100 billion, nominal…
A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…
Q: If 2020 is the base year for real GDP calculations, we know for certain that nominal GDP: O A. Is…
A: The gross domestic product (GDP) is the value of the final goods and services produced in an economy…
Q: Suppose GDP last year in a closed economy was $3,000, taxes were $200, government spending was $500,…
A: Macroeconomics analyzes the economy as a whole. It studies aggregate economic concepts such as…
Q: Refer to Table 23.1, Real Gross Domestic Product (RGDP) is about $ billion -for 2018. O 19,140.10…
A: Answer: The following formula will be used here: Price index=Nominal GDPRGDP×100 Nominal GDP in 2018…
Q: Assume the GDP for Lindellland is $500 billion. If investment spending is $100 billion, government…
A: Gross domestic product is the market value of all goods and services produced in the economy in a…
Q: Table 7-2 Year 1 Year 1 Year 2 Year 2 Goods Quantities Prices Quantities Prices A 90 $1.50 80 $1.40…
A: The formula:GDP = sum of ( price * quantity)
Q: Suppose that nominal GDP per person is €18,000 in 2013, the 2005 GDP deflator is 100, and the 2013…
A: With GDP deflator remains the same in 2005 and 2013, then the Nominal GDP is always equals to real…
Q: The United States produced approximately worth of goods and services in 2019. O A. $21 billion B.…
A: The real GDP of US in 2019 was 21.43 trillion
Q: a. What is the total contribution of this shirt to GDP , using the standard expenditure method ? b .…
A: Gross domestic product (GDP) is the monetary value of all final goods and services produced in a…
Q: Which one of the following is TRUE? Select one: O a. Our productive capacity declines when net…
A: Net Investment = Gross Investment ( money spent on capital assets) - Depreciation of those assets.
Q: 2003 10,960.8 106.4 2007 13.841.3 11.566.8 119.6 What is the REAL GDP for the year 1990? O a. $3,990…
A:
Q: Which of the following statements are correct? Select one or more: O a. To find GDP at constant…
A: The GDP deflator is a measure of inflation that is a ratio of the value of goods and services of the…
Q: Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit…
A: GDP measures the final value of all goods and services that are produced within the domestic…
Q: Ceteris paribus, which of the scenarios below will unambiguously lead to an increase in real GDP? O…
A: GDP: It is the total of all values added to the economy.
Q: What was Crete's GDP? Select one: O a. $6839 O b. $6438 O c. $4623 O d. $5731 O . $6037
A: The measure that in turn depicts the final value of services and goods in an economy that are being…
Q: If nominal GDP is $900 and GDP deflator is 120, what is the real GDP in the economy? O a. 1350 O b.…
A: Real GDP = (Nominal GDP / GDP deflator) x 100
Q: GDP in an economy is $23,600 billion. Consumer expenditures are $18,000 billion, corporate profits…
A: GDP = C+I+G+(X-M) Given information: (required as per the formula) GDP= $23,600 billion Consumption…
Q: Nominal Year Price level GDP 1982 100 €1,600 1992 150 €3,000 2002 300 €6,000 In the above table,…
A: The gross domestic product(GDP) of an economy is defined as the market value of all the final…
Q: Suppose that net investment in 2016 was $24 billion and depreciation was $4 billion. Gross…
A: Gross Investment is alluded to as the all-out use that is made for purchasing capital merchandise…
Q: Which of the following is a sign that an economy is in poor health? a) a prolonged decline in total…
A: the correct option is a A prolonged decline in total output A prolonged decline in total output…
Q: In a small country, using prices of 2010, GDP in 2010 was $100 and GDP in 2011 was SIIU. Using…
A: The real GDP is measured takes into account the value of goods & services produced in the given…
Q: Using the table above, nominal GDP for Doc's Coffee in 2013 was O $47,000 O $60,000
A: The Nominal GDP is simply calculated by multiplying the production or output with prices of a given…
Q: Quèstion 2 Real Domestic Product, GDP ($B) Investment ($B) Refer to the diagrams. Other things…
A: Curve A is downward sloping that shows the negative relationship between interest rate and real…
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- стор 0 The goverment report that (GDP) Increased by 1.6 6 1.6 percent in the last quater. This statement means that GOP Increased @by 6.4 percent for the year (6) rate of 6.4 percent 1 at an annual rate of 6.4 during last quater Ⓒ) at an annual rate of 1.6 during the las quater d at an annual rate of 4 4 percent during the last quater.The table below lists the prices from last year and the base year for a college-related basket of goods. Assume that the typical basket of goods for a college student consists of 200 gallons of gas, 60 pizzas, 45 6-packs, and 2 textbooks. Basket of College-Related Goods Basket of Goods Price Base Year (dollars) Price Last Year (dollars) Gasoline (per gallon) $ 1.70 $ 2.20 Pizza (per pizza) 7.85 Beer (per 6-pack) 6.88 4.20 4.10 Textbook (per book) 98.00 a. Using the values above, what is the rate of inflation between the base year and last year? % b. Assume that rather than buying textbooks for their courses last year, all students decided to buy online access cards at $100 per textbook. What is the rate of inflation between the base year and last year now? % 229.001. Referring to the figures below, 1.0 gdp-gth 80 BPERMITS-YOY 0.8 60 0.6 - 0.4 40 0.2 20 0.0 -0.2 -20- -0.4 -0.6 -40 rel. vol. = 9.4 --0.8 -60 -1.0 1970 2000 2010 1960 1980 1990 2020 -8 -6 -4 -2 2 4 6. 8. TIME (year) LAG (quarters) Source: FRED/BEA characterize the relationship between the growth rate of GDP and the growth rate of building permits (BPERMITS-YoY) in terms of the following items: • Timing. • Direction. • Volatility. Include a brief description of each item in this list in your characterization. RATE (%/year) CROSS CORRELATION
- DIRECTIONS: Solve each of the following problems. entire procedure in an organized way in the space provided, 1. A company's sales (in dollars) appear to be increasing linearly. In 2015 the company's sales were $13,400,000 and in 2020 they were $25,900,000. b. Determine the linear trend equation that expresses the company's sales (S) in terms of elapsed time in years (r). [Code elapsed years so that = 0 represents the year 2015]. The equation that expresses the company's sales (S) in terms of the elapsed time in years (r) is What is the meaning of the slope of the equation?5. Components Wages and salaries Rent, dividend & interest Companies profits Depreciation Transfer payment Personal income tax EPF SOCSO Net factor income abroad Calculate : a. GDI b. GNI c. NNI d. Personal Income e. Personal disposable income RM/ millio n 6000 3000 2000 100 20 10 5 5 100013 Which national income estimation method needs information such as indirect taxes, depreciation and intermediate consumption? a. Net output b. Income c. Expenditure d. Factor
- Consumption in the calculation of gross domestic product does not include Consumer services O Consumer durable goods O Purchases of stocks and bonds O Nondurable consumption goods16- Which one of these will be deducted from gross output to determine the net output? a. Intermediate consumption b. Private income c. Factor income from abroad d. Total government spendingConsider the following information given for calculation of different national income aggregates: Items Rs in crore Value of output 100000 Depreciation 6000 Indirect Taxes 6000 Subsidies 1000 Intermediate consumption 24000 Value added 76000 What will be the value of GNP at market prices as per the given information? Which of the following will be the value of NNP at market prices? Which of the following will be the value of GNP at factor cost? If disposable income is Rs 500 and saving Rs 100, what will be the average propensity to consume? If MPC= 1/2, what is the value of K (Investment multiplier)? What will be the value of NNP at factor cost as per the given information? What will be the value of GDP at market prices as per given information?
- Compute for GNP using Expenditure, Income, and Valued Added Approach. Personal Consumption Expenditures Rents, Interests, Dividends, Wages 1,100,000 950,000 Government Income 35,000 Indirect Taxes 130,000 Exports of goods and non-factor services Fixed Capital Formation Forestry 650,000 270,000 55,000 Government Services 120,000 Imports of goods and non-factor services Subsidies 640,000 5,000 Trade 280,000 Increase in Stocks Corporate Income Depreciation Allowance General Govemment Consumption Expenditures Net Factor Income from Abroad Agriculture 7,000 60,000 17,000 80,000 20,000 550,000 Real Estate 150,000Suppose a closed economy has a national income of $260 milion. $535 midon in private savings, $200 millon worth of tax evenue, and $150 milion in govemment spenting what is the consumprion expenditure in this economy? Os125 milion Os155 milion OS385 mition Ossa5 milion OS645 milion6. Components Wages and salaries Rent, dividend & interest Companies distributed profits Companies undistributed profits Transfer payment Factor income received from abroad Factor income paid abroad Personal income tax EPF SOCSO Retained earning Depreciation Insurance premium Calculate : a. GDI b. GNI C. NNI d. Personal Income e. Personal disposable income RM/ Billion 90 40 60 20 10 30 15 9 5 4 5 3 6