e. PLUS repaves North-South highway. f. Your parents buy a bottle of French wine. g. Toyota expands its factory in Shah Alam, Selangor. Q5. Consider the following data on Malaysia's GDP: Year Nominal GDP (in billion ringgit) GDP deflator (base year 1987) 2005 495,239 189 2006 546, 343 197 a. What is the growth rate of nominal GDP between 2005 and 2006? (Note: the growth rate is the percentage change from one period to the next.) b. What is the growth rate of the GDP deflator between 2005 and 2006? c. What was real GDP in 2005 measured in 1987 prices? d. What was real GDP in 2006 measured in 1987 prices? e. What was the growth rate of real GDP between 2005 and 2006? f. Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.

e. PLUS repaves North-South highway. f. Your parents buy a bottle of French wine. g. Toyota expands its factory in Shah Alam, Selangor. Q5. Consider the following data on Malaysia's GDP: Year Nominal GDP (in billion ringgit) GDP deflator (base year 1987) 2005 495,239 189 2006 546, 343 197 a. What is the growth rate of nominal GDP between 2005 and 2006? (Note: the growth rate is the percentage change from one period to the next.) b. What is the growth rate of the GDP deflator between 2005 and 2006? c. What was real GDP in 2005 measured in 1987 prices? d. What was real GDP in 2006 measured in 1987 prices? e. What was the growth rate of real GDP between 2005 and 2006? f. Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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