stion 4The Desert Republic produces only sheep and oil. The base year is 2010 and the table below gives the quantities produced and the market prices.2010PriceSheepOil$125 per sheep$22 per barrelQuantities14,083 sheep14,524 barrels2020SheepOil$129 per sheep$70 per barrel13,500 sheep12,529 barrelsCalculate real GDP in 202o

Here, price and quantity of goods in 2010 and 2020 is given with 2010 as base year.

Answered: estion 4 The Desert Republic produces…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

33. Number of Sellers: There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government and undergo regular food-safety inspections, anyone who passed inspections can acquire and maintain their license. * (1 Point) One Many Few 34. ducers that sell pasta to hundreds of Italian buy from the cheapest pasta producer they can. One 34. Type of product: There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government and undergo regular food-safety inspections, anyone who passed inspections can acquire and maintain their license. * (1 Point) Standardized (Identical) Differentiated Standardized (Identical) 35. Unique -ucers that sell pasta…
Activity 2 Statistics Reading The most major economic problem of our country today is the reduction of the GDP caused by the pandemic together with the other forces of the market and economic problem as seen in the data below. Give your analysis and the ways you can think of to improve our economy? 10 6.6 6.5 6.2 -0.7 -5 -1 -11.5 -1 -16.9 -2 Jan 2018 Jul 2018 Jan 2019 Jul 2019 Jan 2020 Jul 2020 SOURCE: TRADINOECONOMCS.COM NATIONAL STATISTICS OFFICE OF PHILIPPINES 1.What can you interpret about the GDP of the Philippines based on the Chart? 2. What are the reasons of the decline in the GDP of our Country? List some concrete evidences based on certain article or news. 3. What do you think would happen in the GDP of the Philippines in the year 2022? List some of your views based on economic principles. ||
The consumers in the economy buys only two general types of products: Apples, and Bananas. Price and Quantity information of these items over a period are shown below: Year 2019 Year 2020 Product Quantity Average Price per Unit Quantity Average Price per Unit Apples 7 $5 9 $12 Bananas 18 $10 7 $16 Using year 2020 as the base year, the economy's consumer price index (CPI) in year 2019 is ______. (Your answer should include the first decimal point, if any.)
% Robots on the farm Commercial farms of the future may be staffed by robots that will identify, spray, and pick individual pieces of produce from plants, even when their targets are grapes, peppers, and apples that are as green as the leaves that surround them. Robots could also offer a timely supply of labor in many places, where there simply aren't enough itinerant workers available at the right times in the harvesting cycle. Source: ABC News, April 17, 2011 How will the use of robots change the value of marginal product of farm workers? Robots will the value of marginal product of fruit pickers. A. decrease OB. increase O c. have no effect on O D. decrease to zero OE. sometimes increase and sometimes decrease 6 COM & 7 8 C 9 # 0 Next mpts tact Us | =S
The following table contains information about an economy that produces only soda and pizza. The base year is 2020. Use this information to answer the question. Year Price of Soda Quantity of Soda 2020 100 $10 2021 120 12 2022 120 14 What is the approximate percentage increase in prices from 2021 to 2022? a. 0 percent b. 13 percent c. 16 percent d. 22 percent e. 38 percent $3 3 4 Price of Pizza Quantity of Pizza 50 70 70
d. Calculate the missing information in the table 17.1. Price of Nutmeg Price of Drapes ($ per Nutmeg) ($ per Drapes) Year Real GDP Nominal GDP GDP Deflator 2013 2700 70 10 8 2014 3600 100 12 9 2015 3600 4680 14 10
The following table pertains to Wrexington, an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys. Price of a Toy Price of Meat (Dollars per pound) (Dollars per toy) 3 Year 1 2 3 1 4 Refer to Table 25-2. The cost of the basket 2 7 5 increased from Year 1 to Year 2 and increased from Year 2 to Year 3. increased from Year 1 to Year 2 and decreased from Year 2 to Year 3. decreased from Year 1 to Year 2 and increased from Year 2 to Year 3. decreased from Year 1 to Year 2 and decreased from Year 2 to Year 3.
Hand written solutions are strictly prohibited
The economy of country Y produces 5 commodities; rice, salted fish, sugar, salt, and oil. The following table shows the outputs and prices for year 2000, 2001 and 2002. Instructions calculate Paasche consumer price index for 2001 and 2002 using 2000 as base year!
Assume that in Berberistan only three goods are produced: coffee, tea, and cheesecake. The table below shows the prices and quantities of the three goods in 2018, 2019 and 2020. (Take 2018 as the base year when necessary) 2018 2019 2020Quantity price quantity Price quantity PriceCoffee 2 20 6 10 5 12Tea 20 2 20 2 25 3Cheesecake 15 8 10 10 15 5a) What is the nominal GDP in 2019. b) What is the nominal GDP in 2020. c) What is the real GDP in 2019.d) What is the real GDP in 2020.e) What is the real economic growth from 2019 to 2020.
The following table shows the goods produced in 2020 and 2023. Use this table to answer the following question. Shirts Shoes Hats O $18,500 O $29,250 O $33,700 $25,500 Price ($) 50 90 2020 35 Quantity 100 What is the nominal GDP of 2023? 150 200 Price ($) 60 110 30 2023 Quantity 120 200 150
CS 9 Economics

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS