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21
2020 Q2 |
4.97 trillion pesos |
2020 Q1 GDP (in 2020 Q1 pesos) |
6.09 trillion pesos |
2020 Q2 GDP (in 2015 pesos) |
3.76 trillion pesos |
2020 Q1 GDP (in 2015 pesos) |
4.54 trillion pesos |
Calculate Mexico's inflation, using the GDP deflator method, between the first and second quarters of 2020.
(Enter your answer in percent form, rounded to one decimal place, without the percent sign. For example, if your answer is 0.12345, enter 12.3.)
GDP-deflator is a concept in macroeconomics. GDP-deflator is the factor which is used to rule out the inflationary effect from the nominal GDP. GDP-deflator is calculated using the following formulae:
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- A small nation of 10 people idolizes the TV show The Voice. All they produce and consume are karaoke machines and CDs, in the following amounts: Karaoke Machines CDs Quantity Price Quantity Price (Dollars) (Dollars) 2020 20 50 60 5 2021 21 70 80 6 Using a method similar to that used to calculate the consumer price index, the percentage change in the overall price level is . (Note: Use 2020 as the base year, and fix the basket at 2 karaoke machines and 6 CDs.) Using a method similar to that used to calculate the GDP deflator, the percentage change of the overall price level is . (Note: Again, use 2020 as the base year.) Which of the following statements is correct? Check all that apply. The CPI allows the basket of goods and services to change. The GDP deflator allows the basket of goods and services to change. The inflation rate in 2021 is not the same using the two methods.A small nation of 10 people idolizes the TV show The Voice. All they produce and consume are karaoke machines and CDs, in the following amounts: Karaoke Machines CDs Quantity Price Quantity Price (Dollars) (Dollars) 2020 20 50 60 5 2021 21 70 80 6 Using a method similar to that used to calculate the consumer price index, the percentage change in the overall price level is . (Note: Use 2020 as the base year, and fix the basket at 2 karaoke machines and 6 CDs.) Using a method similar to that used to calculate the GDP deflator, the percentage change of the overall price level is . (Note: Again, use 2020 as the base year.) Which of the following statements is correct? Check all that apply. The GDP deflator holds the basket of goods and services constant. The CPI holds the basket of goods and services constant. The inflation rate in 2021 is the same using the two methods.Using the GDP Deflator calculate the average annual inflation rate that the U.S. experienced over the period beginning with the year of 1998 and ending with 2020. (Note: you do not use the inflation rate as the data you plug into the formula. Rather, you calculate an inflation rate by using the formula.) GDP Deflator: price index in 1998 is 75.3, in 2020 is 113.6 inflation rate in 1998 is 1.1, in 2020 is 1.2 nominal interest rates in 1998 is 6.53, in 2020 is 2.48 Real interest rates in 1998 is 5.41, in 2020 is 1.27
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- The island nation of Coronia subsists entirely on pancakes and syrup. That is, they produce and consume only pancakes and syrup in the following amounts: Pancake Mix (cases) Maple Syrup (gallons) Quantity Price Quantity Price 2019 16 5 8 30 2020 48 6 10 50 (a) Using a method like the CPI, compute the CPI in 2019 and 2020 and percentage change in the overall price level from 2019 to 2020 (inflation rate). Use 2019 as the base year and fix the market basket at 4 pancakes and 2 syrups. (b) Using a method like the GDP deflator, compute the GDP deflator in 2019 and 2020 and percentage change in the overall price level from 2019 to 2020 (inflation rate). Use 2019 as the base year. (c) Is there a difference in the inflation rate using the two methods? Explain why or why not.Question 1: In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table. Calculate the nominal and real GDP of three years and then find the GDP deflator for all the three years. Find year on year (YoY) inflation for 2018 and 2019. Note: the base year for this economy is given as 2017. year Price of Car (AED) Number of Car Price of cycle (AED) Number of cycle 2017 1000 10 200 900 2018 1200 15 210 1000 2019 1500 25 250 1500 Question 2: Explain the role of fiscal and monetary policy in an economy facing a recession. Use appropriate graph to justify your answerCalculate the inflation rate using the GDP deflator based on the Laspeyres, Paasche, and chain- weighted indexes of GDP (use the approximate formula).