Calculate GDP deflator from the following table: Year Nominal Real GDP GDP 2000 8952 8952 2001 9200 9050 2002 10,000 9500 2003 10,030 9330 2004 11,100 10,000
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A: The nominal GDP refers to the GDP at the current market prices. The nominal GDP could be measured…
Q: year nominal GDP REAL GDP PRICE INDEX 1 5200 4800 2 5600 5000 112 3…
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A: The GDP deflator is the measure of price inflation. It is the ratio of the value of goods and…
Q: eal-Time Data Analysis Exercise se the data in the following table to calculate the GDP deflator for…
A: The gross domestic product(GDP) refers to the market value of final commodities(goods and services)…
Q: C I G NX…
A: Nominal GDP is the increment in the income or output level from year to year on the basis of market…
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A: GDP is a macroeconomic measure of the aggregate total production of output in an economy. It can be…
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A: Nominal GDP is the market value of goods and services that are produced in the economy.Real GDP is…
Q: Gross Domestic Product If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price…
A: Nominal GDP in 2005 = $13095.4 billion GDP deflator = 100 Nominal GDP includes both the growth and…
Q: Use the data below to calculate GDP for a given country.
A: With the given data we can calculate GDP by using expenditure method or outlay method.
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A: Real GDP and Nominal GDP are two different ways of calculating Gross domestic product.
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A: GDP for 2009 in 2009's prices: $5800GDP for 2009 in 2010's prices: $7875.24GDP for 2010 in 2009's…
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A: Given information: Real GDP in 1990 = $8225 billion. Real GDP in 2005 = $13095.4 billion.
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Q: Question 3/Chapter 6 Fill in the blanks in the following table of GDP statistics: Nominal GDP…
A: The GDP deflator is an economic instrument that indicates the new price level of all domestically…
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Q: 3. Fill in the blanks in the following table of GDP statistics: 2014 2015 2016 Nominal GDP 17,522…
A:
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A: Hi, thank you for the question. As per the guidelines, we are allowed to attempt only first…
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A: Nominal. GDP = Price * Quantity Nominal GDP in 2008 = 1000*5500+6000*1350+7600*50+1500*670 =…
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A: your answer is given belowExplanation:
Q: GDP Deflator
A: GDP Deflator: GDP Deflator measures the prices of all final goods and services which produced…
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- The table contains price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and Escape SUVs. 2016 2016 2017 2017 price quantity price quantity Ford Escape SUV's $24,485 307,069 $24,645 308,296 F-Series Trucks $44,400 820,799 $47,800 896,764 A. Calculate the amount contributed by Ford to U.S. GDP (real and nominal) from the sales of the two models in 2016 and 2017. B. Determine the growth rate of nominal GDP (if Ford were the entire economy). C. Determine the growth rate of real GDP (if Ford were the entire economy).Calculate median income in 2000 (real) dollars for each of the 3 years. Suppose GDP in current (nominal) dollars and the GDP price index for the United States are as follows: Year 1990 2000 2005 GDP in current dollars (trillions) 6.0 10.0 15.0 Calculate GDP in 2005 (real) dollars for each of the 3 years. Price index [2000=100] 80 100 125The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2010 132 2009 Quantity of fish 120 Quantity of watches Price of fish Price of watches 100 130 $8.00 $30.00 $9.20 $31.50 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices GDP for 2010 in 2010's prices Using 2009 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. % % % Using 2010 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. The geometric average of the two inflation rates
- The table contains price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and Escape SUVs. 2016 2016 2017 2017 price quantity price quantity ford escapes $24,485 307,069 $24,645 308,296 ford trucks $44,400 820,799 $24,645 896,764 a. Calculate the amount contributed by Ford to U.S. GDP (real and nominal) from the sales of the two models in 2016 and 2017. b. Determine the growth rate of nominal GDP (if Ford were the entire economy). c. Determine the growth rate of real GDP (if Ford were the entire economy).The table below presents a brief summary of City Y’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 Interpret what the two spending-to-GDP ratios tell us about City Y’s spending trend. Assuming City Y’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City Y’s population in 2030.Analysis of the Data The following data is taken from The Economic Report to the President 2018. It comes out once a year in April (I think). You should take a look at one just for kicks. Here are the data: 2007 2017 GDP (Y) $14.47 trill $19.38 trill C $9.75 trill $13.39 trill I $2.60 tril $3.19 trill Given the data in the table above, what is the rate of economic growth for the U.S. economy from 2007 to 2017? Is the rate of growth in consumption and investment spending similar to the rate of growth for the overall economic system from 2007 to 2017? Provide mathematical proof. The GDP for China was $12.14 trill. in 2017; $13.61trill in 2018; and $14.14 trill in 2019. World experts have noted that the rate of growth for China has slowed. Calculate the rates of growth for each of the two years. Are the experts correct? Why? According to the International Organization of Motor Vehicle Manufacturing (IOMVM), South…
- Complete the following table by filling in the missing cells. Real GDP Nominal GDP Year (In 2000 dollars) (In current dollars) GDP Deflator (Base year 2000) 1970 3,000 1,200 1980 5,000 60 1990 7,000 6,000 100 2000 9000 8,000 2010 15,000 200 2020 10,000 300 2030 20,000 50,000GDP Deflator (NomGDP/Real GDP)*100 88.4 Assignment 3 Chapter 6. Determine if each of the following would be included or not included in USA GDP for 2020. All transactions occurred in 2020. Circle Yes or No 1. Rebecca real estate agent sells a house built in 2014 for $1,500,000. Yes No 2. $250,000 Bushels of wheat produced in 2020 were exported to Mexico. Yes No 3. Michael, a US citizen works over in Germany producing automobiles. Yes No 4. A Mickey Mantle Rookie card is sold on EBAY for $60,000. Yes No 5. John takes his family out for dinner at Shake Shack Dec 15,2020. Yes No 6. Quark company purchases $5,000,000 of new property, plant, and equipment. Yes No 7. The Government employees Higgs Inc. to repair the roads in Washington DC at a cost of $2,500,000. Yes No 8. Veronica secretly sells Marijuana out of her laundry mat and makes $750,000 revenue for 2020. Yes No 9. General Motors has $35,000,000 Work in Process inventory on Dec 31, 2020 Yes NoNominal Year CPI Real GDP GDP 1980 $2857.31 82.38 1981 $3207.04 90.93 1982 $3343.79 96.55 1983 $3634.04 $3634.04 1984 103.93 $3884.93 In billions In billions Use the data above to figure out the missing information.
- Consider the following data for Canada: GDP deflator, 2016 (base year: 2010): 108.091 GDP deflator, 2017 (base year: 2010): 110.556 GDP, 2016 (current prices): 2,035.5 billion Canadian dollars GDP, 2017 (current prices): 2,144.4 billion Canadian dollars Labor Force, 2017 (millions of people): 19.665 Employment, 2017 (millions of people): 18.421 Interest rate (10-year Government bond yield, annual interest rate, 2017): 1.78% Calculate: (a) the inflation rate for 2017; (b) the real GDP growth rate for 2017; (c) the unemployment rate for 2017; (d) the real interest rate for 2017.Year Nominal GDP Real GDP Price Index 1 5,200 4,800 2 5,600 5,000 112 3 5,900 5,100 Refer to the table. (GDP figures are in billions of dollars.) What is the GDP price index in Year 2? Multiple Choice 112 89.3 109.6 111.5