Real GDP 1992 Time Refer to the above diagram. Which of the following statements is correct? Multiple Choice Nominal GDP must be deflated in each year since 1992 to determine real GDP. Real GDP has grown in this economy, but nominal GDP has not. The price index is greater than 100 for every year shown on the graph. Nominal GDP must be deflated in each year prior to 1992 to determine real GDP. Nominal and real GD
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- RGDP RGDP Deflator Deflator Deflator Deflator 2018 2019 2018 2019 2020 2021 Base Year 2018 760 551 100 135 110 38 Base Year 2019 860 632 120 100 98 123 Base Year 2020 960 716 90 45 100 127 Base Year 2021 720 521 75 55 154 96 100 The nominal GDP for 2019 is Use 2018 as the base year. **Do not add the percent sign in your answer, just put the number. Round your answer to 2 decimal places. For example, if you get 56.6666 round to 56.67***Given the data table below: Year 2015 2016 2017 2018 2019 2020 GDP Deflator, 2015-100. 100.00 100.40 103.30 106.90 106.50 103.30 Real GDP, 2015-100 423,444.10 438,712.15 458,776.09 475,673.62 480,957.65 461.185.67Gross Domestic Product The U.S. gross domesticproduct (GDP) (in trillions of dollars) for selectedyears from 2005 and projected to 2070 can be modeled by y = 0.116x2-3.792x + 45.330, where xis the number of years after 2000. During what yearsbetween 2005 and 2070 was the gross domestic product no more than $23.03 trillion?
- What is the impact of GDP during the covid 19 periodThe table below showsa country's potential Gross Domestic Product (GDP) and true GDP. 1970e 19754 1980 GDP 2,500- 3,5004 4,5004 5,500e 6,500e 7,500- 8,500- Year 1985e 1990- 1995e 2000 Potential (billion) KDNK is 3,890- 4,9814 2,8804 3,988e 7,518e 7,983e 7,850t right(billion) i. Sketch a business cycle based on the data provided above ii. Describe the business cycle. eHi please assist with this 1.3 questions 1.3-1.5.South Africa’s economy grew by 1.1% in the first quarter of the yearStats SA has published the latest gross domestic product (GDP) data covering the first quarter of the year, showing that the economy grew by 1.1% in the first three months of 2021.The growth follows a revised 1.4% rise in real GDP in the fourth quarter of 2020. On an annualised basis, the economy grew 4.6% quarter-on-quarter.Following confusion caused by the annualisation of GDP data in 2020 – amid the Covid-19 pandemic and resulting lockdowns – Stats SA said it would no longer use the annualised data as the headline GDP statistic.During periods of steady economic growth, annualising is a useful way of expressing quarter-on-quarter performance in annual terms, Stats SA said. However, during periods of economic instability, annualising can be misleading, because it exaggerates growth rates that are unlikely to be repeated.The central problem that is evident in the above…
- 11:25 | 0.0KB/s © וו*ה K EXERCISE Jan 14 Q EXERCISE Jan 14, 2021 1. Define gross domestic product (GDP). State the four concepts of GDP. 2. 2. Which of the following are included in this year's GDP? Explain why each is included. (a) Dr Simone grows vegetables for home consumption. (b) The income of a general practitioner. (c) Government pays out BR1M. (d) The purchase of leather by a shoe manufacturer. 3. What is the difference between GDP and GNP? Give examples to explain. 4. Suppose that the information in the following table is for a simple economy that produces the following goods and services. Year 2010 Year 2011 Year 2012 Product Price Quantity Price Quantity Price Quantity (RM) (RM) (RM) A 1 180 1 200 1.25 200 B 90 75 90 100 100 120 0.6 675 0.5 600 0.5 630 (a) Calculate nominal GDP for years 2010, year 2011 and year 2012. (b) Calculate real GDP for year 2011 using year 2010 as the base year. What is the GDF deflator? (c) Calculate real GDP for year 2011 using year 2010 as the…Which definition best describes real GDP? the production of goods and services valued at current prices the production of goods and services valued at constant prices the production of goods and services valued at tomorrow's prices the general change in prices of goods and services from one period to the next Consider a simple economy that produces two goods: fries and burgers. The table shows the economy's production over several years. Calculate the real GDP for 2006 using 2004 as the base year. Price of fries Number Price of burgers Number Year (in dollars) of fries (in dollars) of burgers 2004 5.00 3.00 2 2005 7.00 5 5.00 4 2006 8.00 8.00 6 real GDP: dollarsthe annual output and prices of a 3-good economy are shown in the table below. Good Price year 1 Quantity of Goods Year 1 Price Year 2 Quantity of Goods Year 2 Quarts of ice cream $ 4.00 3 $ 4.00 5 Bottles of shampoo 3.00 1 3.00 2 Jars of peanut butter 2.00 3 2.00 2 instructions: enetr your answers as whole numbers. What was the economy's GDP in year 1? What was its GDP in year 2?
- 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 2011 $6.00 150 $3.50 200 In 2011, this country's Select one: real GDP was $900, and the GDP deflator was 177.8 O.b. real GDP was $1065, and the GDP deflator was 150.2 Oc. real GDP was $900, and the GDP deflator was 150.2 O d. real GDP was $1065, and the GDP deflator was 177.8 Next page geThe country of Economica's GDP deflator and nominal GDP in three different years are shown in the table. Year Nominal GDP GDP Deflator year 1 $25128 122 year 2 $54566 108 year 3 $30967 100 The base year, i.e. the base period, is Year 3. For years 1-3, please obtain the real GDP. Round your answers to the nearest dollar. What is the real GDP for year 1? real GDP: $ What is the real GDP for year 2? real GDP: $ What is the real GDP for year 3? real GDP: $For how many years has GDP been increasing? Group of answer choices xSince the summer of 2009, so more than 10 years. xIt increased for about 10 years from 2009 to 2019, fell dramatically in the first half of 2020, and is now increasing once again (although it is becoming less clear if this will continue). xGross Domestic Product xGDP did not increase under President Obama, but increased under President Trump and decreased under President Biden. xFor 25 years.