The following table shows the monthly total expenditure in 2010 for an economy expressed in thousands of Canadian dollars(CAD).MonthValueJan358.6Feb373Mar387.9AprMay403.5419.7Jun436.5JulAugSep454472.3491.3Oct511.1Nov531.6Dec553.1e. What is the annualized growth rate in percentage between January and February 2010 using the exact formula? Roundyour answer to the nearest second decimal.f. What is the annualized growth rate in percentage between November and December 2010 using the approximationformula? Round your answer to the nearest second decimal.g. What is the value of the index base 100 = April 2010 in November 2010? Round your answer to the nearest seconddecimal.

Growth rates allude to the rate change of a particular variable inside a particular time span. For…

Answered: The following table shows the monthly…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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18 If real GDP is 250 in Year 1 and 300 in Year 2, what is the growth rate of real GDP Group of answer choices 5% 20% 50% 16%
7. What rate of GDP growth would the government need to meet its goal of doubling the population's living standards in 18 years? Group of answer choices 4 percent 3 percent 2 percent 1 percent
If nominal GDP for 2016 is valued at R3 625m and nominal GDP for 2017 is valued at R3 812m, then it is definitely true that: (a) This economy experienced economic growth of 5.2%%; (b) The increase in GDP is obviously because of an increase in prices; (c) Real output in this economy increased by 5.2%%; (d) The change in the value of GDP could be the result of a change in prices and/or a change in output.
If labor input increases by 2 per cent and capital stock increases by 3 per cent per annum, what will be the GDP growth rate? Assume the multi- factor activity or efficiency factor is 2, labor share in national income is 70%, and capital share is 30%: a. 2.023b. 4.20c. 5.023d. 5.30
Q.1.5 In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal GDP of R300. This year it produces 60 units of output at a price of R8,00 each. What is the percentage change in real GDP since the base year? (1) 5%;
Quarter Quarter 1 Quarter 2 Quarter 3 Quarter 4 Nominal GDP $10,000 $12,000 $18,000 $24,000 Real GDP $8000 $9500 $11,000 $13,500 What is the economy's growth rate between Quarter 3 and Quarter 4? Question 16 options: A) 11.3% B) 33.3% C) 22.7% D) 15.7%
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
A mathematical approximation called t he rule of 70 tells us that the number of years that it will take something that is growing to double in size is approximately equal to the number 70 divided by its percentage rate of growth. Thus, if Mexico’s real GDP per person is growing at 7 percent per year, it will take about 10 years (= 70 / 7) to double. Apply the rule of 70 to solve the following problem. Real GDP per person in Mexico in 2005 was about $11,000 per person, while it was about $44,000 per person in the United States. If real GDP per person in Mexico grows at the rate of 5 percent per year, about how long will it take Mexico’s real GDP per person to reach the level that the United States was at in 2005? (Hint: How many times would Mexico’s 2005 real GDP per person have to double to reach the United States’ 2005 real GDP per person?)
There are two common measures of growth. Year-on-year percentage growth and Compound Annual Growth Rate (CAGR), generally accepted metric for average growth rates. Discuss these two measures and explain their purpose.
Over the past year, in a given country, labor productivity (measured in hours worked) has increased by 5%; the total number of hours worked has remained the same; the number of workers increased by 5%, while the general population increased by 3%. Given this information, what is the approximate growth in the standard of living of this country
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate rate. - Inflation rate – Population growth This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation is both easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists a fictional country's nominal GDP, real GDP, GDP deflator, and population over two years. Year 2019 2020 Nominal GDP $1,100,000 $1,200,000 GDP deflator 100 102 Real GDP (2019 dollars) $1,100,000 $1,176,471 Population 1,000 1,005 a. Verify that the real GDP values in the above table are accurate. Instructions: Round your answers to one decimal place. b. This country's real GDP per capita for 2019 is $ This country's real GDP per capita for 2020 is $ c. The growth rate in this country's real GDP per capita…
2) If real GDP in a small country in 2020 is $21.5 billion and real GDP in the same country in 2021 is $22.4 billion, the growth rate of real GDP between 2020 and 2021 A) is 0.90%. B) is 4.02%. C) is 4.19%. D) is 9.00%. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

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