Question A.1 Consider the following data for a country called "Weightonia":Year 1Year 2Real GDP (year 1 prices)Real GDP (year 2 prices)$400$460$530$600Compute Real GDP in year 2 in "Weightonia" by applying the Chain-Weighting approach.Use year 1 as the reference year.

In an economy, the real GDP in a specific year can be computed in different ways. One of the ways is…

Answered: Question A.1 Consider the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

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Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File Leading economic indicator 2000 1,088 Economic activity has 627 191.7 increased decreased 242,119 41.6 c. Interpret the indexes. (Round your answer to 2 decimal places.) 2018 1,162 The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to…
You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File Leading economic indicator The weights you assign are: new businesses 17%, business failures 10%, income tax 34%, enrollment 14% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) 2000 1,125 592 196.2 242,159 46.1 Economic activity has 2018 1,059 286 178.8 291,079 66.7 c. Interpret the indexes. (Round your answer…
Milk Honey Price Quantity Price Quantity Year (Dollars) (Quarts) (Dollars) (Quarts) 2020 1 100 2 50 2021 2 100 4 50 2022 2 200 4 100 Using 2020 as the base year, compute nominal GDP, real GDP, and the GDP deflator for each year. Nominal GDP Real GDP Year (Dollars) (Dollars) GDP Deflator 2020 2021 2022
Calculate GDP deflator from the following table: Year Nominal GDP Real GDP 2000 8952 8952 2001 9200 9050 2002 10,000 9500 2003 10,030 9330 2004 11,100 10,000
(a) The following table shows the outputs and prices of three products produced by an economy in 2018, 2019 and 2020. (i) Measure the nominal GDP, the real GDP and the GDP deflator in 2019 and 2020, taking 2018 as the base year.(ii) Using the GDP deflator, measure the inflation rate in the economy between 2018 and 2019, and also between 2019 and 2020. (b) Assume all household consumption items are locally produced as shown in the table in Question (a). A typical household in the economy consumes 5 units of rice, 4 units of shirt and 2 units of shoes in 2018. Using 2018 as the base year, measure the CPI for 2019 and 2020 and the inflation rate between 2018 and 2019, and also between 2019 and 2020. Explain why the inflation rate is different from those computed from (a)(ii).
Using the table below calculate the missing values. Take all calculations to 2 decimal places. $ not required. Year 2010 2011 2012 2013 2014 2015 Nominal GDP 2,450 2,660 2,870 3,155 Number 3,558.4 Real GDP Number 2,745 Number 3,025 3,140 3,353.4 GDP Deflator 0.94 Number 1.00 Number Number 1.06 Number Include a negative sign where appropriate in the following answers: Part 7: Nominal growth rate year (2010-11) Number Part 8: Nominal growth rate year (2012-13) Part 9: Inflation rate year (2010-11) Number Part 10: Real growth rate year (2011-12) Number Part 11: Inflation rate year (2014-15) Number Part 12: Real growth rate year (2013-14) Number
Use the table to answer the questions. Assume firms pay all profits out to resource owners, there is no depreciation, and there are no taxes. 2010 Consumption spending (C) $350 Rent $100 Profit $175 Investment spending (I) $75 Interest $50 Government spending (G) $125 Net exports (NX) $10 Employee compensation $ Enter the value of GDP in 2010. Use the factor income approach to calculate employee compensation in 2010.
am. 133.
Use the numbers to help calculate the Net GDP(NDP);Green GDP;& Genuine Progress Indicator (GPI). Also explain how they are different and offer an opinion on which one was a better method to measure the performance.
Find the attached file.
What is the importance in macroeconomics of measuring per capita GDP? Provide examples and explain your answer. Requirements: Each response must be 250 to 300 words. When using reference material, you must properly cite the sources using in-text citations with the APA style. You must also include a reference list.
The following table shows data on a hypothetical country's Real GDP from 1970 through 1978: Real GDP Year (Billions of Dollars) 1970 465 1971 470 1972 475 1973 485 1974 510 1975 505 1976 495 1977 490 1978 500 The green line on the following graph shows the economy's long-term growth trend. Lise the blue points (circle symbol) to plot the Real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the Real GDP curve that delinitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the Real GDP curve that delinitely represents a trough. 550 540 Real GDP 530 520 510 Peak 500 490 Traugh Growth trend 480 470 460 450 1970 1971 1972 1973 1974 1975 1978 1977 1978 YEAR Calculate the percentage change in Real GDP in each of the years shown. (Hint: The…

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Question A.1 Consider the following data for a country called "Weightonia": Year 1 Year 2 Real GDP (year 1 prices) Real GDP (year 2 prices) $400 $460 $530 $600 Compute Real GDP in year 2 in "Weightonia" by applying the Chain-Weighting approach. Use year 1 as the reference year.