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- In detail, explain what is going on in the graphYear Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021 2560 Use the information in Table to measure the consumer price indexfor 2019, 2020 and 2021 respectively.Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domesticproduct (GDP). Explain, with the aid of an equation, the components of the consumptionfunction.Using Excel: Please prove Ernst Engel's law by using Lao data ( the share of agricultural productsin the GDP of Laos) from 2000-2020 to draw a figure. Note: please write the data source
- Suppose in a simple economy the following is produced. Note that all cheese produced is used in the production of cheeseburgers and the base year is year 1. Product Quantity (Year 1) Price (Year 1) Quantity (Year 2) Price (Year 2) Cars 50 20 100 30 Homes 10 50 20 160 Cheeseburgers Cheese 100 5 50 1 150 75 6 Dragged and dropped options on the right-hand side will be automatically saved. For keyboard navigation... SHOW MORE What is the nominal GDP in year 1 of this simple economy? What is the real GDP in year 2 of this simple economy? In year 3 the GDP deflator is 145. What is the inflation rate between year 2 and year 3? In year 3 the Real GDP is 4000. What is the rate in real GDP between year 2 and year 3? = 12.68% = 3625 = 6.67% =u 6.62% III =U 2000 III 1950 3750The GDP data collected for the current year for a number of countries are called _____. Select one: a. cross-section data b. time-series data c. panel data d. experimental dataMark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances Demand for Guitars This exercise contains only part a. a) Graph these data using the point drawing tool. The plotted graph shows a pattern that can be described by: A. Seasonality C. Random variations 3 5 8 7 7 70 3 5 6 6 10 7 B. Trend D. Cycles C 12- 11- 10- 9. 8- 7- 6- 5- 4- 3- 2- 1- 0- 0 Guitar Demand 1 2 3 5 4 TV Appearances 8 9 10 11
- A number of statistics are computed to measure the price level, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question in which you are interested. For each of the following situations, state whether the CPI or GDP deflator is a more appropriate measure to use and explain why the statistic is preferred. a. You are interested in looking at the impact of higher prices of imported oil in the overall cost of living. b. The government is interested in whether increases in defense spending are affecting the price level. c. An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.Q14-L) Iam posting this 3rd time there are 2 questions please give me correct answers and be careful thanks Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Suppose that the index of wholesale-to-retail beef price index for 2018 was 1.35 and the base year of this index was 2006. Relative to 2006, beef prices in 2018 were higher(lower) and by how much?
- The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t t-Year 2004 2006 2010 G- GDP (trillions of dollars) 11.87 14.37 14.66 (a) Explain in practical terms what G(2004) means. O The expression G(2004) is the average of G(2004) and G(2010). O The expression G(2004) is the U.S. gross domestic product in trillions of dollars in the year 2004. O The expression G(2004) is the year when the U.S. gross domestic product had a value of 14.66 trillion dollars. O The expression G(2004) is the gross domestic product in trillions of dollars, multiplied by 2004. Find (2004). $11.87 trillion (b) Use functional notation to express the gross domestic product in 2009, and estimate that value. (Round the estimated value to two decimal places.) of 2000 trillion (c) What is the average yearly rate of change in G from 2008 to 2010? (Round your answer to two decimal places.) $ trillion (d) Use your answer from part (c) to predict the gross…The Global Machine Manufacturing Company, Q5. manufacturing Heavy Machines in the Sultanate of Oman. The company has decided to buy a new advance machine to produce the different equipment's. The decision will rest partly on the anticipate sales of machines in the coming months. The actual numbers of machines sold during the past years are as follows: Year Number of machines (Actual) 2014 1000 |2015|1200 2016 1400 2017 1550 2018 1725 2019|1860 2020 2025 a. Forecast the sales for the year of 2021 using a 3-Year moving average method. b. Forecast the sales for the year of 2021 using a 3-Year weighted moving average, with weights of 5, 3 and 2. Using 5 for the most recent Year. c. Compute the forecast for the year 2021 using exponential smoothing with a = 0.5. (Assume the forecast for 2014 was 900 Machines) Compute the MAD based on calculation in c. с. d.Typed and correct answer please. I ll rate
