Suppose using year 1 as the base, you found that real fixed-weight GDP in year 1 was $25,000 and the real fixed-weight GDP in year 2 was $26,000. If year 2 was the base, real fixed-weight GDP in year 1 was $30,000 and real fixed-weight GDP in year 2 was $32,700. Calculate the chain-weighted growth rate between year 1 and year 2. Make sure to include the % symbol and to round two decimal places Using year 2 as the base year, calculate the chain-weighted real GDP in 1. Don't forget to put a $ with your answer and round two decimal places. Don't forget Using year 2 as the base year, calculate the chain-weighted real GDP in year to put a $ with your answer and round two decimal places. Using year 2 as the base year, calculate the GDP deflator in year 1. Don't forget to round two decimal places. Using year 2 as the base year, calculate the GDP deflator in year 2. Don't forget to round two decimal places. Using year 2 as the base year, calculate growth rate in the GDP deflator. Don't forget to round two decimal places and put the % symbol. If the nominal interest rate in the economy was 30%, what would be the real interest rate if we used the deflators to determine our expected inflation rate. Make sure to round two decimal places and include the %.
Suppose using year 1 as the base, you found that real fixed-weight GDP in year 1 was $25,000 and the real fixed-weight GDP in year 2 was $26,000. If year 2 was the base, real fixed-weight GDP in year 1 was $30,000 and real fixed-weight GDP in year 2 was $32,700. Calculate the chain-weighted growth rate between year 1 and year 2. Make sure to include the % symbol and to round two decimal places Using year 2 as the base year, calculate the chain-weighted real GDP in 1. Don't forget to put a $ with your answer and round two decimal places. Don't forget Using year 2 as the base year, calculate the chain-weighted real GDP in year to put a $ with your answer and round two decimal places. Using year 2 as the base year, calculate the GDP deflator in year 1. Don't forget to round two decimal places. Using year 2 as the base year, calculate the GDP deflator in year 2. Don't forget to round two decimal places. Using year 2 as the base year, calculate growth rate in the GDP deflator. Don't forget to round two decimal places and put the % symbol. If the nominal interest rate in the economy was 30%, what would be the real interest rate if we used the deflators to determine our expected inflation rate. Make sure to round two decimal places and include the %.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose using year 1 as the base, you found that real fixed-weight GDP in year 1
was $25,000 and the real fixed-weight GDP in year 2 was $26,000. If year 2 was the
base, real fixed-weight GDP in year 1 was $30,000 and real fixed-weight GDP in year
2 was $32,700.
Calculate the chain-weighted growth rate between year 1 and year 2. Make sure to
include the % symbol and to round two decimal places
Using year 2 as the base year, calculate the chain-weighted real GDP in 1. Don't forget to
put a $ with your answer and round two decimal places.
Using year 2 as the base year, calculate the chain-weighted real GDP in year 2. Don't forget
to put a $ with your answer and round two decimal places.
Using year 2 as the base year, calculate the GDP deflator in year 1. Don't forget to round
two decimal places.
Using year 2 as the base year, calculate the GDP deflator in year 2. Don't forget to round
two decimal places.
Using year 2 as the base year, calculate growth rate in the GDP deflator. Don't forget to
round two decimal places and put the % symbol.
If the nominal interest rate in the economy was 30%, what would be the real interest rate if
we used the deflators to determine our expected inflation rate. Make sure to round two
decimal places and include the %.
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