ne economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 120 2010 Quantity of fish Quantity of watches 132 100 130 Price of fish $8.00 $30.00 $9.20 Price of watches $31.50 sing the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices

ne economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 120 2010 Quantity of fish Quantity of watches 132 100 130 Price of fish $8.00 $30.00 $9.20 Price of watches $31.50 sing the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Measuring The Cost Of Living

Section: Chapter Questions

Problem 3PA

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Question 1 Suppose an economy consists of only two types of products: laptops and automobiles. Sales and price data for these two products for two different years are shown below: 2021 Quantity sold 2015 2019 Quantity sold Products Price Price Quantity sold 200,000 60,000 Price Laptop Automobiles (RM) 2,000 40,000 500,000 80,000 (RM) 3,000 60,000 450,000 90,000 (RM) 3,500 80,000 Calculate: a) Nominal Gross Domestic Product (GDP) in 2019 and 2021. b) Real Gross Domestic Product (GDP) in 2019 and 2021 using 2015 as base year. c) Based on your answers to questions (a) and (b), which one of them accurately measures the growth of GDP and why? d) Higher GDP is indicated higher income per capital, higher economic growth and increases in distribution of income but GDP does not reflect everything going well the economy. Explain FOUR (4) the limitation in GDP measure with examples.
Part C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand for unleaded gasoline from sales during the past eight months. Month Gasoline Demanded (gallons) Mar 900 Given that the forecast for March is 920. Apr 755 May 650 Jun 550 Jul 625 Aug 730 Sept 820 Oct 1 100 a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25. b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45. c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them. d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)
Can you please answer the last three questions. Thank you.
The following table lists the per gallon prices of gas and milk for the months of September, October, and November. Assume that the typical consumer buys 100 gallons of gas and 7 gallons of milk each month, and that September is the base period. Month September October November Price of Gas Price of Milk (Dollars per gallon) (Dollars per gallon) 4.00 4.40 4.60 3.50 3.52 3.58 Refer to Table 24-3. What is the consumer price index for November? a. 114.27 b. 91.36 C. 95.79 d. 87.51
The following bar chart shows the annual marketing expenditure (in ?) of ABC Electronics. Marketing costs of ABC Electronics (in lakhs of rupees) 20 18 15 12.9 10 9.8 6.7 5 4.4 2007 2008 2009 2010 2011 Variables In the above bar chart, the data of marketing expenditure would be categorised under which of the following types of variable? a) Discrete variable b) Continuous variable c) Dependent variable d) Intervening variable
Question 5 > Recall the fact that 1 feet = 12 inches. Conversion factors are fractions of value 1 that we use to convert units from one measurement to another. 1 feet = 12 inches gives rise to two conversion factors, 1 feet 12 inches and 12 inches 1 feet Use a conversion factor to convert feet to inches. Enter your answer as an integer or a reduced fraction. 1 feet inches
A hypothetical country of Narnia produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown in the following table. The base year is 2017. Year 2016 2017 2018 2019 Price (Dollars per movie) 7.6% 7.5% Movies 7.2% 7% 10.00 11.00 12.00 12.00 Quantity Quantity (Movies) (Dollars per bag) (Bags) 500 600 650 625 Popcorn Refer to Table 23-5. What was the rate of inflation for Narnia in 2019? (Hint: round-off to the nearest decimal point) Price 5 4 5 6 1,000 900 950 925
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Consider that the quantity of Milk A sold will increase by 50%, the sales revenue of Milk A will decrease by 25%, and the price is determined by sales revenue divided by quantity sold. Which of the following best describes the expected change in Milk A's price in April, compared to March? January February March Milk A Quantity Sold Sales Revenue Quantity Sold 500 800 400 $3,000 $4,400 $2,400 Milk B 1200 1500 950 Select the single best answer: A. increase by 25% B. decrease by 50% C. decrease by 25% D. decrease by 15% E. no change Sales Revenue $5,000 $6,000 $4,400 Quantity Sold Milk C 600 550 700 Sales Revenue $3,400 $3,300 $5,000
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Greenhouse gases trap heat and make the planet warmer. Human activities are responsible for almost all of the increase in greenhouse gases in the atmosphere over the last 150 years. In this part, you will draw two pie graphs. A pie graph is used to show how a certain quantity has been divided into several parts, as well as to show the comparisons among these parts. 1. The data table below shows the total U.S. greenhouse gas emissions by economic sector in 2013, in million metric tons of CO2. On the pie graph provided, complete the graph to show the percent of greenhouse gas emissions for each economic sector. Label each section of the pie graph with its economic sector. The percent for "Agriculture" has been drawn and labeled for you. Economic Sector Electricity Transportation Industry Commercial & Residential Agriculture Percent of Greenhouse Gas Emissions 31 27 21 12 9 80 75 70- 85 65 95 90 wlad Percent 0 100 Agri- culture 55 50 45 10 40 35 20 25 30
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