2. If the economy grew at a 3% rate this year and average prices grew ______, people would be better off on this year compared with last year.   a. 3% b. faster than 3% c. slower than 3% d. faster than 10%

Q: 1. China has a greater GDP value than Canada. Their national GDP is currently 2nd in the world. Why…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: your opinion, which economic indicator, nominal GDP, real GDP,  or inflation, do you believe…

A: Real GDP provides a clearer picture of the state of the economy than nominal GDP and inflation.

Q: he Figure above shows statistics on Real GDP in Qatar ($billions) from 2012 to 2020, in addition to…

A: real domestic product, GDP is the standard proportion of the worth added made through the production…

Q: suppose you buy a new iClicker 2 from the Illinois bookstore for $29.99. Your friend was lucky and…

A: The nations have various entities in the form of households, consumers, investors, producers,…

Q: Write in detail about business cycle with example of an economy(Country)

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: "During a recession more people qualify for unem ployment insurance . This will increase the…

A: The term “recession” is defined as that period of an economic contraction where demands fall…

Q: Canada’s real GDP in November 2020was $1,934,643,000 and $1,990.238,000 in November 2019. Canada’s…

A: Real GDP refers to the value of goods and services produced by a country and the value of goods is…

Q: f nominal GDP increased by 6 percent during a year, while the GDP deflator increased by 4 percent,…

A: Real GDP depicts the true growth of the economy and is essential to calculate

Q: a. What is real GDP in 2008, at prices of 2007? billion es b. What is real GDP in 2007, at prices of…

A: Real GDP can be calculated by the given formula : Real GDP =( Nominal GDP *100) / price index

Q: Country X Country Y Country Z 1 YEAR 1 YEAR AGO 1 YEAR AGO INDICATOR NOW NOW NOW AGO 7.5% 5.6% 7.9%…

A: Since no other Information has been given let us assume that all the above mentioned countries have…

Q: Suppose you read the news that the unemployment rate increased from 5.8% to 6.7% and at the same…

A: An increase in the unemployment rate is a major problem for any economy. A person is considered to…

Q: To celebrate a big achievement of mine, I invited friends to my house for a party. Now, I am…

A: Given: Price of the bottle = $2 Price(P) and Quantity (Q) are: P1 = 1, P2 = 5 Q1 = 100, Q2 =200…

Q: ch the economy with its definition

A: Mixed Economy - It is the economy in which the decisions related to the economy (mainly consumption…

Q: Given the economy current production was, GDP=150M, an economist would be concerned with: Select…

A: A real estate bubble, also referred to as a “housing bubble,” occurs when the price of housing rises…

Q: How will you differentiate the 4 stages of the business cycle

A: The cycle that depicts the movement of the economy from the expansion stage to the contraction stage…

Q: .A country's standard of living depends on its ability to produce goods and services إخثر واحدأن ths…

A: A country's standard of living depends on it's ability to produce goods and services. - TRUE

Q: 1. Describe GDP & Unemployment Country Z 1 YEAR AGO 3.5% Country X Country Y 1 YEAR AGO 0.3% NOW NOW…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is the Real GDP in 2020, according to the table below? Has the Real GDP increased or decreased…

A: The nominal GDP is the monetary value of all goods and services that is produced within the…

Q: Please answer the questions provided on the image below.

A: Curruption is a world wide problem and act as a hindrance in the growth path of any country either…

Q: Consider an economy which produces and sells, among a host of other things, 100 million T-shirts a…

A: The total monetary or market worth of all finished goods and services produced inside a country's…

Q: Increased production but not increased inflation will result ti higher real GDP why?

A: The total value of goods and services produced annually in a country is referred to as gross…

Q: 5. Who in an economy is the big winner from inflation and why?

A: Inflation refers to the general rise in the prices in an economy. Most modern economies expect to…

Q: A. By what percentage did GDP decline in 2008? B. At that rate, how much output would have been…

A: A.  3.8 percent

Q: (2)The data below show the NOMINAL GDP (Y) and GDP deflator (P) for an economy over a five-year…

A: Real GDP measures the value of all the finished goods produced within the country at a specific time…

Q: f the Real GDP of county A grew by 4% last year, and the po tandard of living in country A: )…

A: Real GDP measures the changes in the production of goods and services based on the base year prices.…

Q: Country X Country Y Country Z 1 YEAR 1 YEAR 1 YEAR AGO INDICATOR NOW NOW NOW AGO AGO Unemployment…

A: The gross domestic product refers to the market value of all the final commodities( goods and…

Q: he Congressional Budget Office admits that its forecasts of next year’s GDP are off by an average of…

A:

Q: If your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in some year, by…

A: Given information: Nominal income rose by 5.3 percent i.e., % change in nominal income = 5.3 and…

Q: Why do economists focus on the GDP, inflation, and unemployment when assessing the health of the…

A: The Gross Domestic Product (GDP) refers to the total production done in a year within a year. It…

Q: Economist defined economic recession as more the 2 consecutive quarters in which there is a decline…

A: 1. Economist defined economic recession as more the 2 consecutive quarters in which there is a…

Q: 14) When the government prints money and gives it to the old as a subsidy-gift then, A) The gift has…

A: The total amount of money being circulated in an economy is referred to as money supply. It includes…

Q: 7. You are given with some economic data of Economy B in 2021. Answer this question using the…

A: Nominal GDP growth rate refers to growth rate of GDP of a country in current price terms whereas…

Q: If nominal GDP grows by 7% but inflation rises 3%, what is the real GDP?

A: Given that, nominal GDP grows by 7% but inflation rises 3%, what is the real GDP.

Q: 1 YEAR AGO NOW 10.9% 1 YEAR AGO 5.1% 1 YEAR AGO 0.3% INDICATOR NOW NOW GDP growth rate -3.2% 3.7%…

A: The business cycle explains the ups and downs in the economy over a period of time. It shows how an…

Q: Assume real GDP in 2019 was $17,230 billion, nominal GDP in 2020 was $18,316 billion, and the…

A: If inflation increases at the same nominal levels, then real GDP decreases

Q: Why do economists measure growth in real terms as opposed to nominal terms? Explain why real GDP a…

A: The economics as a study is based upon the basic and the most important idea of scarcity. The…

Q: a. Consider an economy which produces and sells, among a host of other things, 100 million T‑shirts…

A: Value-added selling is the particular selling process during which the sales rep does whatever it…

Q: The next four questions involve the following situation: Consider an economy with only two products:…

A: Here, price and output of two years, 2020 and 2021, is given where 2020 is base year.

Q: Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator,…

A: Gross Domestic Product (GDP) is the monetary value of all the final goods and services produced in…

Q: D Question 32 If you are told that a country's nominal GDP decreased and its real GDP decreased over…

A: Real GDP (RGDP) = Nominal GDP (NGDP) / Price level (P) % Change in RGDP = % Change in NGDP - %…

Q: he end of the year: you sell trees Lei cut down for $27,000; you pay Lei $15,000; and your saw is…

A: GDP is the aggregate value of goods and services produced within the domestic territory of a nation…

Q: Compare and contrast the following activities  before Pandemic COVID 19 & after COVID 19 by…

A: answer a. COVID 19 pandemic appears as a sudden jerk on most of the economic variables.  Due to the…

Q: 16. To be a Keynesian means that you believe in two principles. What are those two principles? a. b.

A: Keynesian economics is a theory of total spending or total expenditure in the economy and its…

Q: If all quantities produced rise by 5 percent and allprices fall by 5 percent, which of the following…

A: When the quantity produced increases by 5 percent, it will increase the real GDP of the economy by 5…

Q: How has the U.S. economy been doing in recent years? Why do you think that is? Gather relevant…

A: Respond to the following prompts in a pos:   The United States is clearly seen as the biggest and…

Q: LAS LASO SASI # SASO Real GDP SAS1 Real GDP Real GDP Figure C Figure D In the above figure, which…

A: The aggregate supply is the total amount of services and commodities that firms in an economic plan…

Q: The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub￾parts for…