q25- Real GDP is: Select one: a. the production of goods and services valued at future-year prices b. the production of goods and services valued at current-year prices c. the production of goods and services valued at constant prices d. the production of goods and services valued at the ratio of current-year prices to constant prices

q25- Real GDP is: Select one: a. the production of goods and services valued at future-year prices b. the production of goods and services valued at current-year prices c. the production of goods and services valued at constant prices d. the production of goods and services valued at the ratio of current-year prices to constant prices

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 4SQ

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List some of the reasons why economists should not consider GDP an effective measure of the standard of living in a county.
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A. For each of the following examples, state if you think it is included in the 2010 calculation for the Philippine GDP. A 1962 Camaro sold to a collector in February 2010. A tractor produced by local automobile company in May 2010 and sold to a farmer in September 2010. A cell phones produced in August 2010 in Shanghai China. A car produced in Philippines in 2010, but sold to a customer in January 2011. Nonmarket goods such as homemaking and child-rearing. The benefits of clean air and water. Estimated values of activity in the underground economy. Purchases and sales of goods produced in previous periods. Government pay its fiscal debt interest in 2010. The sale of a new car from a manufacturer’s inventory in 2010. Imported rice from Thailand. The purchase of a watch from a Swiss company in the Philippines. Mang Juan’s house constructed in 2009. A company invest in building a new plant in middle of the year 2010 and to be done at the end of the…
A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2009. Prices and Quantities Year Price of Quantity of Price of Quantity of D. Movies Movies Popcorn Popcorn Tab 2009 $11.00 500 $4 900 pres 2010 $12.00 600 $5 1000 What was this country's GDP deflator in 2010? Exp Cons Select one: Da. 150 Refer the Ob 77.8 A 17 128.6 Od. 100 MG 20 Type here to search.
The following is considered in GDP- Select one: a. Longer-term environmental damage b. None of these c. Changes in the distribution of income d. A value for household labor e. depreciation of natural capital
2011 (base Year) 2011 2012 2012 2013 2013 P Q P Q P Q Good A $30 900 $31 1000 $36 1050 Good B $100 192 $102 200 $100 205 to calculate Nominal GDP in 2012 and 2013. What is the growth of such nominal GDP from 2011 to 2012, and from 2012 to 2013. Do the same for the real GDP. Which has grown more, nominal GDP or real GDP? What does this imply?
I. Based on the data in Table 2 below, calculate Indonesia's 2011-2016 by measuring changes in the GDP Deflator. Table 2.Indonesia's Gross Domestic Product 2011-2016 year Product Domestik Bruto (Miliar Rp.) Nominal IHK (%) Deflator 2010 6,864,133.1 6.96 100.0 2011 7,831,726.0 3.79 107.5 2012 8,615,704.5 4.30 111.5 2013 9,546,134.0 8.38 117.0 2014 10,569,705.3 8.36 123.4 2015 11,531,716.9 3.35 128.4 2016 12,406,809.8 3.02 131.5
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Question 25 ☐ Suppose that a simple economy produces only four goods and services: cars, homes, cheeseburgers and cheese. Assume all of the cheese are used in the production of the cheeseburgers. Also assume that Year 1 is the base year. What is the real GDP in this simple economy i in year 2? 25 100 30 Product Quantity (Year 1) Price (Year 1) Quantity (Year 2) Price (Year 2) Cars 50 10 30 15 Cheeseburgers 100 5 150 6 Cheese 50 1 75 3 ETTTT Homes 50 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a 2750 b 3700 с 3775 P 4875
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The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk 2008 $4.00 90 $1.50 150 2010 $5.00 120 $2.50 200 In 2010, this country's Select one: а. real GDP was $825, and the GDP deflator was 141.0 O b. real GDP was $780, and the GDP deflator was 141.0 Ос real GDP was $825, and the GDP deflator was 133.3 d. real GDP was $780, and the GDP deflator was 133.3