Consider the following data for a hypothetical economy that produces two goods, milk and honey. Quantity Produced milk (litres) Year 1 105 Year 2 125 Prices honey (kg) milk ($/litre) honey ($/kg) 40 4 5 18 3 4 a. Compute nominal GDP for each year in this economy. Nominal GDP in year 1: $ Nominal GDP in year 2: $ (Round your response to the nearest whole number.) (Round your response to the nearest whole number.) The percentage change in nominal GDP from year 1 to year 2 is ☐ (Round your response to two decimal places. Use the minus sign to enter negative numbers.) b. Using year 1 as the base year, compute real GDP for each year using the traditional approach. Real GDP in year 1 year 1 prices Real GDP in year 2 year 1 prices (Round your response to the nearest whole number.) (Round your response to the nearest whole number.)

The following table shows some data for an economy that produces only two goods: milk and honey. Year 2020 20 2022 Year 2020 2021 2022 2 Price Quantity Price (Dollars) (Quarts) (Dollars) 1 150 2 150 2 2022 Milk The following table shows nominal GDP, real GDP, and the GDP deflator for each year listed. Nominal GDP Real GDP (Dollars) 350 700 1,400 300 % % From 2020 to 2021, 4 350 700 Honey 4 Quantity (Quarts) 100 % (Dollars) GDP Deflator 350 Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2021 and 2022 from the preceding year. 100 100 Percentage Change In... Year Nominal GDP Real GDP GDP Deflator 2021 % % % 200 200 200 did not change; and from 2021 to 2022, Comparing the changes in 2021 and 2022, economic well-being increased more in did not change.

Consider the following data for a hypothetical economy that produces two goods, milk and honey. Prices Year 1 Year 2 Quantity Produced milk (litres) 100 135 honey (kg) 35 22 a. Compute nominal GDP for each year in this economy. Nominal GDP in year 1: $ Nominal GDP in year 2: $ milk ($/litre) 4 3 honey ($/kg) 3 4 (Round your response to the nearest whole number.) (Round your response to the nearest whole number.) The percentage change in nominal GDP from year 1 to year 2 is%. (Round your response to two decimal places. Use the minus sign to enter negative numbers.) b. Using year 1 as the base year, compute real GDP for each year using the traditional approach. Real GDP in year 1year 1 prices- $ Real GDP in year 2year 1 prices (Round your response to the nearest whole number.) (Round your response to the nearest whole number.) The GDP deflator in year 1year 1 prices The GDP deflator in vear? The percentage change in real GDP from year 1 to year 2 is%. (Round your response to two decimal…

Question 1. FTable 1: Quantity Produced and Price of Good Price of an automobile Quantity of automobile produced 100 Price of a loaf of bread Quantity of breads produced Year 2000 Year 2010 $60,000 120 $20 400,000 Suppose an economy produces and consumes only bread and automobiles. The table above includes data for two different years. Using the year 2000 as the base year, compute the following statistics for each year: nominal GDP, real GDP, GDP price deflator, and the CPI. |S50,000 $10 500,000

2) Below is the Table showing the annual gross electricity demand (TW.h) of Turkey versus gross do product a) Draw gross domestic product versus electricity consumption and find the equation of the line by the graphical method (be careful determining the dependent and the independent variables) b) By using the equation you have found, predict the electricity demand when GDP becomes 2500 billion S. Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GDP (billion $) 800 928 1024 1120 1094 1250 1433 1532 1691 1861 1966 2040 2186 gross annual electricity consumption (TWh) 161 175 190 198 194 210 230 242 246 257 266 279 295

able 1 contains price and quantity information for two products produced by Apple,the iPhone and Apple Watch for 2016 and 2017. Let’s assume that they were producedin the United States.Table 1: Apple Products                   2016                            2017                        Price    Quantity         Price    QuantityiPhone           $1,200     300             $1,250     400Apple Watch    $500      800              $650       850ˆ Calculate the amount contributed by Apple to nominal U.S. GDP from the salesof the two products in 2016 and 2017.ˆ Calculate the amount contributed by Apple to real U.S. GDP from the sales ofthe two products in 2016 and 2017.ˆ Determine the growth rate of nominal GDP (if Apple were the entire economy).ˆ Determine the growth rate of real GDP (if Apple were the entire economy).ˆ Use the shortcut you learned to convert between real and nominal growth ratesto determine the growth rate of prices.ˆ Is the increase in nominal GDP due to a change in…

2. The following table shows an example of gross domestic product values for five countriesfrom 2005 to 2010 in equivalent U.S. dollars ($). a. How could you improve the readability of this table?b. The file GdPyears contains sample data from the United Nations Statistics Divisionon 30 countries and their GDP values from 2005 to 2010 in U.S. dollars ($). Create atable that provides all these data for a user. Format the table to make it as easy to readas possible.

Table 1 contains price and quantity information for two products produced by Apple,the iPhone and Apple Watch for 2016 and 2017. Let’s assume that they were producedin the United States.Table 1: Apple Products                   2016                            2017                        Price    Quantity         Price    QuantityiPhone           $1,200     300             $1,250     400Apple Watch    $500      800              $650       850ˆ Calculate the amount contributed by Apple to nominal U.S. GDP from the salesof the two products in 2016 and 2017.ˆ Calculate the amount contributed by Apple to real U.S. GDP from the sales ofthe two products in 2016 and 2017.ˆ Determine the growth rate of nominal GDP (if Apple were the entire economy).ˆ Determine the growth rate of real GDP (if Apple were the entire economy).ˆ Use the shortcut you learned to convert between real and nominal growth ratesto determine the growth rate of prices.ˆ Is the increase in nominal GDP due to a change in…

Typed plz and Asap  Thanks

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