Q3. What are the likely effects of a rise in aggregate demand by $100 million for the economy of VaVa Land?

Q: On which basis the GDP of the country is decided?

A: Gross domestic product (GDP): It is the value of all finished or final goods and services produced…

Q: Category Billions of Dollars Consumption Depreciation Retained earnings $200 20 12 Gross investment…

A:

Q: Global GDP has two issues. Which considerations should be considered while comparing GDPs?

A: Gross Domestic Product, frequently referred to as GDP, is an important metric that gauges the size…

Q: Let p(t) represent the consumer price index. If the rate of inflation of the price index is constant…

A: Given that: Rate of Inflation = 5% or 0.05 Base value = 100 at time t = 0

Q: How does Standard of Living affect Quality of Life in terms of GDP?

A: Gross domestic product (GDP) is the sum of the monetary value of all the final products and services…

Q: If nominal GDP is $15000 million and real GDP is 12,000 million Find GDP deflator

A: The information being given to us is as follows:- Nominal GDP = $15,000 million Real GDP = $12,000…