Part A: The base year in a country for the calculation of national income data is 2012. Real GDP in this country grows at the rate of 5 percent per year. The GDP deflator in this country increases at the rate of 2 percent per year. If the real GDP in this country in 2011 was 20,000 manats, what would be the value of nominal GDP in 2013? Nominal GDP in 2013 = manats. Do you know what country uses manat as its currency? Part B: The base year in a country for the calculation of national income data is 2012. Real GDP in this country grows at the rate of 5 percent per year. Nominal GDP in this country increases at the rate of 8 percent per year. If the real GDP in this country in 2011 was 50,000 tenges, what would be the value of GDP deflator in 2013? GDP deflator in 2013- tenges. Do you know what country uses tenge as its currency?

Part A: The base year in a country for the calculation of national income data is 2012. Real GDP in this country grows at the rate of 5 percent per year. The GDP deflator in this country increases at the rate of 2 percent per year. If the real GDP in this country in 2011 was 20,000 manats, what would be the value of nominal GDP in 2013? Nominal GDP in 2013 = manats. Do you know what country uses manat as its currency? Part B: The base year in a country for the calculation of national income data is 2012. Real GDP in this country grows at the rate of 5 percent per year. Nominal GDP in this country increases at the rate of 8 percent per year. If the real GDP in this country in 2011 was 50,000 tenges, what would be the value of GDP deflator in 2013? GDP deflator in 2013- tenges. Do you know what country uses tenge as its currency?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Part A: The base year in a country for the calculation of national income data is 2012. Real GDP in
this country grows at the rate of 5 percent per year. The GDP deflator in this country increases at
the rate of 2 percent per year. If the real GDP in this country in 2011 was 20,000 manats, what
would be the value of nominal GDP in 2013?
Nominal GDP in 2013 =
manats.
Do you know what country uses manat as its currency?
Part B: The base year in a country for the calculation of national income data is 2012. Real GDP in
this country grows at the rate of 5 percent per year. Nominal GDP in this country increases at the
rate of 8 percent per year. If the real GDP in this country in 2011 was 50,000 tenges, what would
be the value of GDP deflator in 2013?
GDP deflator in 2013-
tenges.
Do you know what country uses tenge as its currency?"

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