The seasonally adjusted data below depict the performance of the economy of the United States in fivequarters of 1948-1949.Year/Quarter1948/Q41949/Q11949/Q21949/Q31949/Q4Time left 0:44:23Select one:OA 1948/Q4.OB. 1949/Q1.OC 1949/02OD 1949/Q319/04Annual Percent Change Nominal GDP1.7-7.4-5.22.3-3.3Annual Percent Change Real GDPThe inflation rate in the United States was highest in which of the following quarters?0.5-5.4-1.44.2-3.3

The inflation is the sustained and chronic rise in the general price level. The nominal GDP is…

quarters of 1948-1949. Year/Quarter 1948/Q4 1949/Q1 1949/Q2 1949/Q3 1949/Q4 elect one: Annual Percent Change Nominal GDP A 1948/04. Bi 1949/01 1.7 -7.4 -5.2 2.3 -3.3 Annual Percent Change Real GDP he inflation rate in the United States was highest in which of the following quarters? 0.5 -5.4 -1.4 4.2 -3.3

quarters of 1948-1949. Year/Quarter 1948/Q4 1949/Q1 1949/Q2 1949/Q3 1949/Q4 elect one: Annual Percent Change Nominal GDP A 1948/04. Bi 1949/01 1.7 -7.4 -5.2 2.3 -3.3 Annual Percent Change Real GDP he inflation rate in the United States was highest in which of the following quarters? 0.5 -5.4 -1.4 4.2 -3.3

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 7PA

See similar textbooks

Similar questions

Gross Domestic Product The U.S. gross domesticproduct (GDP) (in trillions of dollars) for selectedyears from 2005 and projected to 2070 can be modeled by y = 0.116x2-3.792x + 45.330, where xis the number of years after 2000. During what yearsbetween 2005 and 2070 was the gross domestic product no more than $23.03 trillion?
year Good A Good B Litres of water Kilos of apples PA X QA Pa X Qu 2018 2t X 100 3t X 400 2019 36X 200 4E X 500 2020 46 X 300 6t X 600 Let P = the per-unit market price: Q- the number of units produced and sold of each of the final goods produced within the nation, in a given year (le. GDP). Let 2018 be the base year. The percentage (%) change in nominal GDP from 2019 to 2020 (regardless of base year) is: OA) 0.85 (= 85%) B) 0.66 (- 66%) O9 0.56 (- 56%) D) 0.76 (- 76%) E) 0.46 (- 46%)
The country of Economica's GDP deflator and nominal GDP in three different years are shown in the table. Year Nominal GDP GDP Deflator year 1 $25128 122 year 2 $54566 108 year 3 $30967 100 The base year, i.e. the base period, is Year 3. For years 1-3, please obtain the real GDP. Round your answers to the nearest dollar. What is the real GDP for year 1? real GDP: $ What is the real GDP for year 2? real GDP: $ What is the real GDP for year 3? real GDP: $
1. 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
Review View Design Layout References Mailings Page Layout Assignment Questions: 1. Calculate the GDP by using both formulas, expenditure approach and income approach. Also calculate the Real GDP if CP1 for Year1 is 120 and CPI for Year 2 is 150 Million $ YEAR 1 Consumption Indirect Taxes 6,200 200 1,600 800 Investment Depreciation Interest 400 500 500 Corporate Profit Exports Compensation of Employees Government Purchases 6,300 1,000 800 Direct Taxes 1,100 700 Saving Imports Rent 400 Million $ YEAR 2 Government Purchases 2500 Wages 4000 Interest 500 Proprietor's Income Consumption Depreciation Investment 2000 3000 200 1500 Indirect Taxes 300 700 Savings Imports 9000 dow Rent 1000 Еxports 10000 Hail English (U.S.)
The seasonally adjusted data below depict the performance of the economy of the United States in 1949. Year/Quarter 1949/Q1 1949/Q2 1949/Q3 1949/Q4 Select one: OA. Recession and disinflation. Annual Percent Change Nominal GDP -7.4 -5.2 +2.3 -3.3 Which of the following describes the performance of the economy of the United States in 1949? OB. Expansion and disinflation. OC. Expansion and deflation. OD. Recession and deflation. Annual Percent Change Real GDP -5.4 -1.4 +4.2 -3.3
Year Pr Pv Qz Pz GDP Real GDP GDP PI 1 10 5 35 20 10 Blank 1 Blank 2 Blank 3 12 35 25 15 Blank 4 Blank 5 Blank 6 3 15 7 40 2 30 12 Blank 7 Blank 8 Blank 9 4 20 8 50 35 12 Blank 10 Blank 11 Blank 12 5 30 50 5 40 14 Blank 13 Blank 14 Blank 15 Using the above table, calculate GDP (nominal) for each year, Real GDP for each year, using Year 1 as the base year, and the GDP Price Index (Deflator) for each year. S SS SS 12 S SS SS S SS SS
(a) The following table shows the outputs and prices of three products produced by an economy in 2018, 2019 and 2020. (i) Measure the nominal GDP, the real GDP and the GDP deflator in 2019 and 2020, taking 2018 as the base year.(ii) Using the GDP deflator, measure the inflation rate in the economy between 2018 and 2019, and also between 2019 and 2020. (b) Assume all household consumption items are locally produced as shown in the table in Question (a). A typical household in the economy consumes 5 units of rice, 4 units of shirt and 2 units of shoes in 2018. Using 2018 as the base year, measure the CPI for 2019 and 2020 and the inflation rate between 2018 and 2019, and also between 2019 and 2020. Explain why the inflation rate is different from those computed from (a)(ii).
The seasonally adjusted data below depict the performance of the U.S. economy in four quarters of 1990-1991. Year/Quarter 1990/Q3 1990/Q4 1991/Q1 1991/Q2 Select one: OA lower than. Annual Percent Change Nominal GDP +3.7 -0.7 +2.0 +6.2 Real GDP in the United States in the first quarter of 1991 was_____ it was in the fourth quarter of 1990. OB. higher than OC. the same as Annual Percent Change Real GDP +0.3 -3.6 -1.9 +3.2
The following graph approximates business cycles in the United States from the first quarter of 1947 to the third quarter of 1951. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 1947194819491950195121702070197018701770REAL GDP (Billions of dollars)YEAR Source: “Current-dollar and Real GDP,” Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls. Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1948, is known as . True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. True False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1950? Check all that apply. Industrial production declined. Consumer spending increased.…
I. Based on the data in Table 2 below, calculate Indonesia's 2011-2016 by measuring changes in the GDP Deflator. Table 2.Indonesia's Gross Domestic Product 2011-2016 year Product Domestik Bruto (Miliar Rp.) Nominal IHK (%) Deflator 2010 6,864,133.1 6.96 100.0 2011 7,831,726.0 3.79 107.5 2012 8,615,704.5 4.30 111.5 2013 9,546,134.0 8.38 117.0 2014 10,569,705.3 8.36 123.4 2015 11,531,716.9 3.35 128.4 2016 12,406,809.8 3.02 131.5
Q.3.3 Year (Base year) 2018 2019 2020 2021 Cost of a basket (R) of consumer goods/services Show how gross national product (GNI) can be derived from gross domestic product (GDP). 1850 2190 2380 2560