Trend Analysis

The table below is extracted from HappylandRepublic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.   Items Base year 2019 2020     Production Price Production Price Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) 8,000 500.00 11,000 1,200.00 Cloth (units) 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) 1,500 2.00 1,700 3.00 Milk (litres) 5,000 1.30 7,000 2.50 Computers (Units) 2,000 500.00 2,500 600.00 Printers (Units) 500 300.00 400 355.00 Raw materials for car assembling plant (Units) 4,500 250.00 4,450 300.00   1. Calculate HappylandRepublic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year.                   2. Double counting must be avoided when measuring GDP. State and examine…

The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Item     Price 2017 (Base Year)   Price 2018 Production Price per Unit ($) Production Price per Unit ($) Rice (tons) 50,000 1.50 55,000 2.00 Wheat (tons) 100,000 2.00 98,000 2.50 Tractors mid-size (units) 50,000 23000.00 45,000 2,450.00 Cotton (tons) 120,000 100.00 110,000 120.00 Used cars 5,000 5,000.00 6,000 7,000.00 Manufacture garments (tons) 150,000 50.00 145,000 70.00 Eggs (trays) 2,000 2.50 2,300 3.50 Coca Cola (litres) 6,000 0.80 6,500 1.20 Pepsi Cola (litres) 700 1.10 850 1.50 Beef (tons) 5,000 6.50 4,800 8.50 Second Hand Clothes (tons) 500 15.00 450 25.00 Alcoholic Beverages (litres) 500 3.25 600 3.75 Milk (litres) 7,000 2.30 7,500 2.50 Examine the…

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The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow. Items Base year 2019 2020     Production Price Production Price Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) 8,000 500.00 11,000 1,200.00 Cloth (units) 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) 1,500 2.00 1,700 3.00 Milk (litres) 5,000 1.30 7,000 2.50 Computers (Units) 2,000 500.00 2,500 600.00 Printers (Units) 500 300.00 400 355.00 Raw materials for car assembling plant (Units) 4,500 250.00 4,450 300.00 1.Calculate Happyland Republic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year.   2.Double counting must be avoided when measuring GDP. State and examine four (4) transactions…

The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.   Items Base year 2019 2020     Production Price Production Price Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) 8,000 500.00 11,000 1,200.00 Cloth (units) 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) 1,500 2.00 1,700 3.00 Milk (litres) 5,000 1.30 7,000 2.50 Computers (Units) 2,000 500.00 2,500 600.00 Printers (Units) 500 300.00 400 355.00 Raw materials for car assembling plant (Units) 4,500 250.00 4,450 300.00   Calculate Happyland Republic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. ANSWER:        Double counting must be avoided when measuring GDP. State and examine four…

The following table shows data on the relationship between a worker's years of education and the salary he or she is likely to earn. Education Salary (Years) (Thousands of dollars per year) 4 SALARY (Thousands of dollars per year) Use the orange points (square symbol) to plot the data from the table on the graph below. Line segments will automatically connect the points. 50 45 8 12 40 15 25 35 Salary Teresa

The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018 Items Production Price per/unit ($) Production Price per/unit ($) Rice (tons) 50,000 1.5 55,000 2 Wheat (tons) 1,00,000 2 98,000 2.5 Tractors 50,000 23,000 45,000 24,500.00 mid-size (units) Cotton (tons) 1,20,000 100 1,10,000 120 Used cars (units) 5,000 5,000 6,000 7,000 Manufacturing Garments (tons) 1,50,000 50 1,45,000 70 Eggs (trays) 2,000 2.5 2,300 3.5 Coca Cola (litres) 6,000 0.8 6,500 1.2 Pepsi Cola (litres) 700 1.1 850 1.5 Beef (tons) 5,000 6.5 4,800 8.5 Second hand clothes (tons) 500 15 450 25 Alcoholic Beverages (litres) 500 3.25 600 3.75 Milk (litres) 7000 2.3 7,500 2.5 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP.…

The table below is extracted from Happy land Republic, Bureau of Statistics recordsfor 2018-2019. Use the information in this table to answer the questions that follow. item  base year 2015 2016     production price production price used car sales 5,000 2000.00 6,000 2,500 factories components sales 8,000 500.00 10,000 1200.00 cloth sales 8,000 20.00 14,000 35.00 beef sales 1,500 10.00 1,800 12.00 milk litres sales 5,000 1.30 6,000 2.50 computers sales 2000 500.00 2500 800.00 printers sales 500 300.00 400 355.00 raw materials for tractor assembling plant sales  4500 250.00 4450 300.00 i. Calculate Happy Land Republic’s nominal GDP and real GDP in 2016ii. Why does real GDP always defer from nominal GDP?

Interpret the table for each year.

U.S. DEPARTMENT OF COMMERCE BUREAU OF THE CENSUS WASHINGTON, DC 38233-2004 OFFICE OF THE DIRECTOR March 13, 2000 To all households: This is your official form for the United States Census 2000. It is used to count every person living in this house or apartment - people of all ages, citizens and non-citizens. United States Census 2000 Your answers are important. First, the number of representatives each state has in Congress depends on the number of people living in the state. The second reason may be more important to you and your community. The amount of government money your neighborhood receives depends on your answers. That money gets used for schools, employment services, housing assistance, roads, services for children and the elderly, and many other local needs. Your privacy is protected by law (Title 13 of the United States Code), which also requires that you answer these questions. That law ensures that your information is only used for statistical purposes and that no…

The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.   Item Base year 2019 2020   Production Price Production Price Used cloth (units) 4,000 50.00 5000 60.00 Components used tractor factory production 8,000 500.00 11000 1,200.00 Cloth 8,000 25.00 12,000 30.00 Beef gifts during cultural festival 1,500 2.00 1,700 3.00 Milk litres 5,000 1.30 7,000 2.50 Computers 2000 500.00 2,500 600.00 Printers 500 300.00 400 355.00 Raw materials for car assembling plant 4500 250.00 4450 300   Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator                                                                                                                                                                                                 2) Examine the…

The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.   Item Base year 2019 2020   Production Price Production Price Used cloth (units) 4,000 50.00 5000 60.00 Components used tractor factory production 8,000 500.00 11000 1,200.00 Cloth 8,000 25.00 12,000 30.00 Beef gifts during cultural festival 1,500 2.00 1,700 3.00 Milk litres 5,000 1.30 7,000 2.50 Computers 2000 500.00 2,500 600.00 Printers 500 300.00 400 355.00 Raw materials for car assembling plant 4500 250.00 4450 300   Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator

interpret the data in the graph

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United States U.S. DEPARTMENT OF COMMERCE Census 2000 BUREAU OF THE CENSUS WASHINGTON, DC 20233-2000 OFFICE OF THE DIRECTOR March 13, 2000 To all households: This is your official form for the United States Census 2000. It is used to count every person living in this house or apartment - people of all ages, citizens and non-citizens. Your answers are important. First, the number of representatives each state has in Congress depends on the number of people living in the state. The second reason may be more important to you and your community. The amount of government money your neighborhood receives depends on your answers. That money gets used for schools, employment services, housing assistance, roads, services for children and the elderly, and many other local needs. Your privacy is protected by law (Title 13 of the United States Code), which also requires that you answer these questions. That law ensures that your information is only used for statistical purposes and that no…

The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow.  Goodland Economy 2017 and 2018 Item Price 2017 Price 2018     Production Price per unit Production Price per unit Rice (000tons) 50000 1.5 55000 2 Wheat (000 tons) 100000 2 98000 2.5 Tractor mid size( units ) 50000 23000 45000 24500 Cotton (000 tons) 120000 100 110000 120 Used Cars (00) 5000 5000 6000 7000 Manufacture Garments (000 tons) 150000 50 145000 70 Eggs (000 trays) 2000 2.5 2300 3.5 Coca cola (000litres) 6000 0.8 6500 1.2 Pepsi cola (000 litres) 700 1.1 850 1.5 Beef (000 tons) 5000 6.5 4800 8.5 Second hand clothes (000 tons) 500 15 450 25 Alcoholic Beverages (000 litres) 500 3.25 600 3.75 Milk (000) 7000 2.3 7500 2.5  Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to…

The following table presents historical unemployment and inflation data in the United States for the years 1974 through 1978. Unemployment Rate Inflation Rate Year (Percent) (Percent) 1974 5.6 11.0 1975 8.5 9.1 1976 7.7 5.8 1977 7.1 6.5 1978 6.1 7.6 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. INFLATION RATE (Percent) 6 5 13 12 Data Points 11 10 9 4 2 3 4 5 6 7 B 9 10 11 UNEMPLOYMENT RATE (Percent) Which of the following statements most accurately describes the relationship between inflation and unemployment in the United States during this time period? The short-run Phillips curve remained stable. The short-run Phillips curve shifted to the left after actual inflation was lower than expected. The short-run Phillips curve shifted to the right…

You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. 2000 2018 New businesses 1,240 1,325 Business failures 600 496 State income tax receipts ($ millions) 185.2 220.8 College student enrollment 242,299 291,291 State sales tax ($ millions) 55.1 57.4   The weights you assign are: new businesses 15%, business failures 10%, income tax 42%, enrollment 13% and sales tax 20%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your answer to 2 decimal places.) Economic activity has (increased or decreased) _____%…

Greenhouse gases trap heat and make the planet warmer. Human activities are responsible for almost all of the increase in greenhouse gases in the atmosphere over the last 150 years. In this part, you will draw two pie graphs. A pie graph is used to show how a certain quantity has been divided into several parts, as well as to show the comparisons among these parts. 1. The data table below shows the total U.S. greenhouse gas emissions by economic sector in 2013, in million metric tons of CO2. On the pie graph provided, complete the graph to show the percent of greenhouse gas emissions for each economic sector. Label each section of the pie graph with its economic sector. The percent for "Agriculture" has been drawn and labeled for you. Economic Sector Electricity Transportation Industry Commercial & Residential Agriculture Percent of Greenhouse Gas Emissions 31 27 21 12 9 80 75 70- 85 65 95 90 wlad Percent 0 100 Agri- culture 55 50 45 10 40 35 20 25 30

Chapter 01 Homework Suppose that Rosa is a diligent hard-working first-year college student. One Sunday, she decides to start the day by working through 300 practice problems to study for the statistics class. Using a table to track her progress throughout the day, she notices that as the hours pass, it takes her longer to solve the problems. Time 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM Total Problems Solved 0 120 210 270 300 Use the table to answer the following questions. The marginal, or additional, gain from Piper's second hour spent working, from 8:00 AM to 9:00 AM, is The marginal gain from Piper's fourth hour spent working, from 10:00 AM to 11:00 AM, is problems. problems. The following week, Piper's statistics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 105 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume students…

The following table shows selected data on unemployment and inflation in the United States between 1961 and 1965. Unemployment Rate Inflation Rate Year (Percent) (Percent) 1961 6.7 1.0 1962 5.5 1.0 1963 5.7 1.3 1964 5.2 1.3 1965 4.5 1.6 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. 4.5 4.0 Data Points 3.5 3.0 2.5 2.0 1.5 1.0 0.5 1 3 4 6 7 8 UNEMPLOYMENT RATE (Percent) INFLATION RATE (Percent)

Residents in one housing development were asked a series of questions by their homeowners’ association. Identify the type of data for each question.a. Did you play golf during the last month on the development’s new golf course?b. How many times have you eaten at the country club restaurant during the last month?c. Do you own a camper?d. Rate the new security system for the development (very good, good, poor, or very poor).

Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 32 pounds of pasta, 79 packages of yogurt, and 22 bottles of lemonade. Hanna's parents have recorded the prices per unit of pasta, yogurt, and lemonade for the last four months, as shown in the table below. Hanna's Meals Month Pasta (dollars per pound) Yogurt (dollars per package) Lemonade (dollars per bottle) January $1.83 $1.14 $2.58 February 1.90 1.04 2.35 March 2.07 0.95 2.54 April 2.26 1.04 2.77 Instructions: Round your answers to two decimal places. a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months. In January, the total monthly cost was $. In February, the total monthly cost was $ and (Click to select). In March, the total monthly cost was $ and (Click to select). In April, the total monthly cost was $ and (Click to select). b. If Hanna's parents want to buy the same…

Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 32 pounds of pasta, 79 packages of yogurt, and 22 bottles of lemonade. Hanna's parents have recorded the prices per unit of pasta, yogurt, and lemonade for the last four months, as shown in the table below. Hanna's Meals Month January February March April Pasta (dollars per Yogurt (dollars per pound) $1.83 1.90 2.07 2.26 package) $1.14 1.04 0.95 1.04 Lemonade (dollars per bottle) $2.58 2.35 Instructions: Round your answers to two decimal places. a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months. In January, the total monthly cost was $ In February, the total monthly cost was $ In March, the total monthly cost was $ In April, the total monthly cost was $ and (Click to select) b. If Hanna's parents want to buy the same quantity of pasta, yogurt, and lemonade, how much more…

interpret the data in the graph

Refer to the figure below: Insurance and pensions 11.9% Item a. Entertainment b. Transportation c. Clothing Housing 32.8% Item Weight 0.053 0.159 0.03 Entertainment 5.3% Transportation 15.9% Price Change 20% -8% 100% Health care 8.1% Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey (2018 data). Use the item weights in the figure to determine the percentage change in the CPI that would result from a(n) a. 20 percent increase in entertainment prices. b. 8 percent decrease in transportation costs. c. doubling of clothing prices. (Note: Review the table titled "Computing Changes in the CPI" in your text for assistance.) 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 of those numbers. Food 12.9% Impact on CPI (Inflation Effect) Clothing 3.0% Miscellaneous 10.1%

The table below is extracted from Happy land Republic, Bureau of Statistics records for 2018-2019. Use the information in this table to answer the questions that follow. Item Base year (2015) 2016 Production Price Production Price 5,000 2000.00 8,000 500.00 6,000 2,500 10,000 1200.00 Used car sales Factory components sales Cloth sales Beef sales Milk litres sales Computers sales Printers sales Raw assembling plant sales 8,000 20.00 14,000 35.00 1,500 10.00 1,800 12.00 5,000 1.30 6,000 2.50 2000 500.00 500 300.00 2500 800.00 400 355.00 materials for tractor 4500 250.00 4450 300.00 i. Calculate Happy Land Republic's nominal GDP and real GDP in 2016 ii. Why does real GDP always defer from nominal GDP?

54 You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File 2000 1,0881 627 Leading economic indicator 191.7 242,119 Economic activity has 41.6 2018 1,162 520 162.6 290,841 The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. 39.9 b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your…

George Kyparisis makes bowling balls in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of a 3% increase in productivity. He has the following data representing a month from last year and an equivalent month this year: Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,000 300 55 10,000 2,950 Now 1,000 250 48 12,500 2,500 The productivity change for each of the inputs (Labor, Resin, Capital, and Energy) is: Labor Productivity Change = 20.12 % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary). Resin Productivity Change =% (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary).

You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File Leading economic indicator The weights you assign are: new businesses 17%, business failures 10%, income tax 34%, enrollment 14% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) 2000 1,125 592 196.2 242,159 46.1 Economic activity has 2018 1,059 286 178.8 291,079 66.7 c. Interpret the indexes. (Round your answer…