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Define what the Transportation Services Index (TSI) is. Then explain why the Freight TSI is procyclical (i.e. rises and falls with GDP).
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- This question has four parts. (its not a writing assignment, just asking for a numerical value or simple answer) 1.1. What is the US GDP for the first quarter and second quarter of 2020? What is the personal consumption expenditures for the first quarter and second quarter of 2020? Go to the website for the Bureau of Economic Analyses (BEA): https://www.bea.gov/ Section 1: Domestic Product and Income; Table 1.1.5 1.2. Use the information in Table 1 to analyze aggregate expenditures (AE) model below (Figure 1. Equilibrium in a Private Closed Economy). (table 1 and figure 1 are in the attachments) 1.3. Identify the mistake and explain why the graph of the aggregate expenditures line does not correctly illustrate the economy's equilibrium. 1.4. Create a graph for the aggregate expenditures (AE) model using the data from Table 1: A Private Closed Economy. Tips: Remember, the 45degree line (also known as the Keynesian Cross) is a tool that shows how differences in aggregate…Use two diagrams to explain the effects of the determinants of aggregatedemand on real GDP in a nation. (Calculate total GDP for this economy given the following components of demand. Round your answer to the nearest tenth and enter the value in trillions of dollars. Components of GDP on the Demand Side (in trillions of dollars) Consumption Investment Government spending Exports Imports Provide your answer below: trillion Total GDP 12.9 3.8 4.2 3.0 4.2 ?
- A futures market trades contracts on the growth rate for nominal GDP. The contract pays $X to the buyer, where X is 100 times the growth rate in nominal GDP from last year to this year. For example, if nominal GDP grows by 1% over last year, the contract pays $100 (1 x 100). Nominal GDP last year was $28,909 billion. Contracts on the futures markets are currently selling for $513. What is the market's prediction for nominal GDP this year? Put your answer in billions. You may round to two decimal places.Calculate total GDP for this economy given the following components of supply. Round your answer to the nearest tenth and enter the value in trillions of dollars (i.e. $xx.x trillion). of GDP on the Supply Side (in trillions of dollars) Components Durable goods Nondurable goods Services Structures Change in inventories Provide your answer below: trillion Total 3.8 2.7 12.2 2.1 0 ?According to the Bureau of Economic Analysis, the GDP Deflator for the 3rd Quarter 2021 is +5.7%. The U.S. Bureau of Labor Statistics reported the Consumer Price Index (CPI) as rising 5.4 percent over the last 12 months, not seasonally adjusted. Given this information: 1) Interpret these data and summarize its meaning. 2) What are these data measuring? 3) If you were a business economist, which would you use and why?
- What is the relationship of the GDP deflator to real GDP? To make comparisons across time or across borders, one must use the notion of a GDP deflator to convert nominal GDP into real GDP for comparisons. Nominal variables are in current dollars and have price level changes such as inflation and deflation included in them. Real variables are in constant dollars due to the factoring out of price level changes using a base year and a deflator. What is the current nominal GDP for the US economy? What is the current real GDP for the US economy?The table below shows the total expenditure on a basket of goods and services. Use this information to calculate index numbers for the cost of a basket of goods and services in each period. Assume Period 1 is the base year. Round to one decimal place. Provide your answer below: Period 1 Period 2 Period 3 Period 4 Total Expenditure $1,100 $1,350 $1,400 $1,450 Period 1 Period 2-Period 3 = Period 4 = | Index Numberthe price index used to determine Real GDP is called the personal cunsumtion expenditures price index the real GDP price index the implicite price deflator 5 pts the consumer price index
- Question 4 (04.02 MC) Use the graph to answer the question that follows. Price P₁ P₂ P₂ H Q₁ M P₁, M, G, P3 in profits. P₁, M, G, P3 in losses P₁, M, N, P₂ in profits P1, M, N, P2 in losses P2, N, G, P3 in profits MR MC AC AR Quantity (units) What would be the area of this firm's economic profits or economic losses?Calculate the PPP-adjusted GDP for each of the four countries using the information found in the table below. Instructions: Round your answers to the nearest dollar. Price level adjustment (%) GDP ($) 10,500 12,500 14,125 23,500 Country Ona PPP-adjusted GDP Rye Zolfo Avon -26 -9 25In 2012, the economy of country Z had consumption of $2,200,000, exports of $65,000, investment of of $530,000 and imports of $80,000. The GDP was $3,355,000. How big were government purchases that year? $625,000 $610,000 $640,000 We do not have enough information to answer this quesiton.