Suppose the nominal GDP of country X in 2013 was equal to 10000. The deflator index in 2014 was 107% (relative to the previous year). The volume index in 2014 was 103% (compared to the previous year). What is the nominal GDP of country X in 2014
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- As per the World Bank, Philippine Real GDP (constant 2015 prices) was at around 396,220,000,000 USD in 2019. Meanwhile the GDP deflator for 2015-2019 is given as follows: Year Deflator 2015 100.00 2016 101.29 2017 103.66 2018 * 107.53 2019 108.28 Given this information, compute for the Nominal GDP for the Philippines in 2019.GDP deflator (GDP deflator for year t = nominal GDP for year t divided by the real GDP for year t) is a price index representing the overall price level in the economy. The CPI (the consumer price index) is also a price index representing the overall price level in the economy. Which of the below is best explains why they are different? The GDP deflator does not reflect the prices of exported goods and services, whereas the consumer price index does not reflect the prices of the imported goods and services. The GDP deflator reflects the prices of goods and services bought by producers, whereas the consumer price index reflects the prices of goods and services bought by consumers. The GDP deflator reflects the prices of intermediate goods and services bought by producers, whereas the consumer price index reflects the prices of goods and services bought by consumers.In Macronesia the GDP deflator for 2006 is 105 ( with 2005 being the base year). If the real GDP in 2006 equals 210 billion, the nominal GDP in 2006is equal to $200 billion. Not enough information given. $220.5 billion. $ 210
- What is the term for the total value of all final goods and services produced within a country's borders in a specific time period? a) Gross National Product (GNP) b ) Net Domestic Product (NDP) c) Gross Domestic Product (GDP) d) National Income (NI)The United States gross national product in trillions of dollars for the latter half of the 1980s is given in the table below. Year 1985 1986 1987 1988 1989 GNP ($trillion) 4.02 4.23 4.52 4.88 5.20 1. Using technology, calculate the average rate of change for each year. You may, for example, make a table in a spreadsheet with Year, GNP, and Average Rate of Change, as the three columns. What are the independent and dependent variables? 2. Using technology, create a plot of GNP vs year. Does the data appear to be linear? Explain. 3. Using technology, construct a linear trendline and determine the R2 value. What is the trendline equation? Interpret the slope, including units. What is the R2 value? Is there a strong or weak correlation? 4. Using the trendline equation, create a spreadsheet table and second plot of GNP vs year, extending the data through 1995. What GNP does your trendline predict for 1993? Explain in the context of the problem. 5. In what year does the trendline predict the…GDP in Singapore (2019) is equal to 507.568 billion Singapore Dollars. What is the value of Singapore’s GDP in US Dollars if with 1 USD, you can buy 1.37 SGD?
- Consider the following data on U.S. GDP: Year Nominal GDP GDP Deflator (Billions of dollars) (Base year 2009) 2016 18,707 105.93 1996 8,073 73.18 The growth rate of nominal GDP between 1996 and 2016 was , and the growth rate of the GDP deflator between 1996 and 2016 was . (Hint: The growth rate of a variable XX over an NN-year period is calculated as 100×((XfinalXinitial)(1N)−1)100×XfinalXinitial1N−1) Measured in 2009 prices, real GDP was billion in 1996 and billion in 2016. (Note: Select the answers closest to the values you compute.) The growth rate of real GDP between 1996 and 2016 was . The growth rate of nominal GDP between 1996 and 2016 was than the growth rate of real GDP.Given the following information for a country: Year 1981 1986 1991 GDP(current prices, mil) 282,596 608,807 1,244,741 Population (mil) 49.54 56 62.87 GDP deflator (1997= base year) 16.45 37.93 64.49 Calculate real GDP for all the years. Calculate real GDP per capita for all the years.In an economy, Real GDP for year 2002 (base year = 1996) is $200 billion and the GDP deflator 2002 (base year = 1996) is 120. Calculate the Nominal GDP for 2002.
- The GNP of a country is $200 billion, receipts of factor income from the rest of the world are $10 billion, payments of factor income to the rest of the world are $30 billion, and depreciation is $25 billion. What is the GDP and the Net National Product?Gross Domestic Product If nominal GDP in 1975 was $1699.9 billion and the GDP deflator (price index) was 100, what is the value of real GDP in 1975?Nominal GDP for this simple economy in year 1 equals