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A: The information given can be represented as table Year 1Year 2Real GDP$250$270Population 120125.
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- . For a high-income economy like the United States, what aggregate production function elements are most important in bringing about growth in GDP per capita? What about a middle-income country such as Brazil? A low-income country such as Niger?Assume an economy with two firms: a coffee beans producer and a coffeeshop. In a given year, a coffee beans producer grows 75,000 tonnes of coffee beans, sells 50,000tonnes of coffee beans to the local coffee shop at $50 per tonne, exports 20,000 tonnes of coffeebeans at $50 per tonne, and stores 5,000 tonnes as inventory. The coffee producer pays $100,000in wages to consumers. The coffee shop produces 1,000,000 cups of coffee and sells all of it todomestic consumers at $4 a coffee. The coffee shop pays consumers $400,000 in wages. Inaddition to the 1,000,000 coffees consumers buy from the local coffee shop, they (consumers)import and consume 300,000 cups of coffee (coffee pods), and they pay $2 per a coffee pod.Calculate gross domestic product using• the product approach,• the expenditure approach, and• the income approach. PLEASE SHOW ALL HAND WRITTEN WORK AND STEPS!!8) Assume that apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002and $1.50 in 2009. If 4 apples were produced in 2002 and 5 in 2009, whereas 3 oranges wereproduced in 2002 and 4 in 2009, then real GDP (measured in 2002 prices) in 2009 was:a. $5.b. $6.50.
- Suppose GDP = JD 12,000, %3D C= JD 9,600, G= JD 400 and Nx= JD 320. If Jordan citizens earn Jd 1,600 abroad and foreigners working in Jordan *: earn Jd 600. What is GNP 12000 O 14000 13600 13000Real GDP is equal to the sum of current year prices multiplied by base year quantities. Select one: O True O FalseChoose which statement is most correct. Nominal GDP must always equal potential GDP. O a. O b. Real GDP can never exceed potential GDP. O C. Nominal GDP can never exceed potential GDP. O d. Real GDP must always equal potential GDP. O e. At times, real GDP can exceed potential GDP.
- Which of the following statements do not correctly describe exponential growth? (Check all that apply) DA New growth builds on past growth and its effects compound. De. The growth rate stays approximately constant. Yc The growth rate keeps increasing each year. o. The growth rate fuctuates drastically. Suppose Arendelle's real GOP per capita was 535,000 in 2012 In 2013 and 2014, It increased to $36,400 and $37,860 respectively (all numbers are in 2012 constant dollan) The growth rate between 2012 and 2013 in this economy was%. (Round your answer to the nearest whole number.) Arendelle shows growth over the yearn.please do both of the pictures.Production Prices Year1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 60 80 100 $1.00 $1.00 $1.40 Good Y 100 110 130 $0.80 $0.90 $1.00 Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is Select one: О а. 100 O b. 179 O c. 106.5 O d. 93.9
- ← The computation of the average annual growth rate of real GDP O A. is more complex when examining data for a long period of time than when examining data for only a few years. OB. involves computing the percentage change in real GDP between the first year and the last year for the period being examined. OC. is the same for shorter periods of time as for longer periods of time. OD. involves simply averaging the growth rate for each year, but only if data for many years are available What is the best use of the rule of 70 among those listed below?Please help quickly. I will give a thumbs up if you help fast!!Question 22 Here are hypothetical data for Germany and Japan on average labor productivity, the number of persons employed, and population in a given year: Average labor |productivity S88,204 $44,216 Number of persons employed 32.36 million 50.48 million than that of Germany by approximately . Population 78.17 million 104.3 million Germany Japan Japan's real GDP per person is O lower; $15,114 O higher; $121,711 O lower; $121,711 O higher; $15,114
