Please correct answer and don't used hand raiting The table below shows real GDP per capita for the United States between the years 1950-2016.Real GDP per Capita over TimeReal GDP perCapita (dollars)Year1950197520002016$13,32723,43942,76047,142Instructions: Round your answers to one decimal place.a. What is the growth rate in the standard of living from 1950 to 1975?2.3 %b. What is the growth rate in the standard of living from 1975 to 2000?2.4 %c. What is the growth rate in the standard of living from 2000 to 2016?0.6 %

a. Growth rate from 1950 to 1975Starting GDP per capita (1950) = $13,327Ending GDP per capita (1975)…

Answered: The table below shows real GDP per…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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19. Table below shows nominal GDP, the GDP deflator and the population for the U.S. for 2019 and 2020. Year Nominal GDP GDP deflators Population ( in $ billions) |2019| 1987 = 100 (in millions) 4567 51.2 240 2020 6532 116.8 280 Using the information contained in the above table, calculate: (a) Growth rate of Nominal GDP (b) Growth rate of population (c) Growth rate of real GDP (d) Growth rate of real GDP per capita
The table below gives the country's GDP, population size, and price level over a three-year period. 2018 2019 2020 Nominal GDP 14999 16866 23851 Population 213 291 337 Price Level 100 105 116 Given the information above, calculate the following: (d) The Real GDP in 2020 (f) Nominal GDP per capita growth rate between 2019 and 2020 % (e) Nominal GDP growth rate between 2018 and 2019 (g) Real GDP growth rate between 2018 and 2019 % (h) Real GDP per capita growth rate between 2019 and 2020 The economy is in short-run equilibrium in 2020 and the potential GDP of the economy is 37282. Given this information, calculate the following: (i) The output gap in 2020 (j) The output gap in 2020 if the price level was 125 instead of 116
Nominal GDP (billions of cunent $) GDP defatar Population growth 101% Date 2007 $14,0618 10630 2008 143691 10n.62 0.93% 2009 14,129.0 109.61 2010 14,660.4 0S0% Use the data in the table above to calculate the economic growth rate for the United States from 2008 to 2009. Give your answer to two decimals. Note that all data is from the end of the year specified.
The table below shows real GDP per capita for the United States between the years 1950-2016. Real GDP per Capita over Time Real GDP per Capita (dollars) Year 1950 1975 2000 2016 $13,819 24,601 43,935 52,172 Instructions: Round your answers to one decimal place. a. What is the growth rate in the standard of living from 1950 to 1975? % b. What is the growth rate in the standard of living from 1975 to 2000? % c. What is the growth rate in the standard of living from 2000 to 2016? %
The table below gives the country's GDP, population size, and price level over a two-year period. 2018 2019 Nominal GDP 8449 18374 Population 240 294 Price index 100 97.55 Given the information above, calculate the following: (f) The Real GDP in 2019 188.35 188.35 (g) Nominal GDP per capita growth rate between 2018 and 2019 117.4 117.4 (h) Real GDP per capita growth rate between 2018 and 2019 0.8198 0010o
Answer the question based on the table below. Year Nominal GDP (in millions) GDP Deflator Real GDP Real GDP Growth Rate Population DGP 1988 450 65 30000 1989 470 69 31000 1990 500 71 32000 1991 550 73 33000 What is the Real GDP growth rate in 1990? (round it to the nearest million) 5.1% 3.4% 6.3% 4.7%
The data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each product for the distant country of Vindaloo. (All figures are in billions and the base year is 2018.) a. Complete the table below. 123456789101112 PricesNominal GDPQty2019 PricesNominal GDPReal GDPQty2020 Prices Nominal GDPReal GDPPizzas32$8$ 36$9$ $ 40$10$ $ Movie tickets226 248 268 Farm tractors4105 595 6110 Parking meters640 750 460 Totals 201820192020ltemQty2018 b. The value of nominal GDP in 2018 is $, in 2019 is $, and in 2020 is $. c. The value of real GDP in 2018 is $, in 2019 is $, and in 2020 is $. d. The value of the GDP deflator in 2018 is, in 2019 is, and in 2020 is. Answer to one decimal place. e. The inflation rate (using the GDP deflator) in 2019 is % and 2020 is %. Answer to one decimal place. f. Suppose that the representative consumer in Vindaloo buys 5 units of each consumer good. In this case the cost of the bundle in 2018 is $, in 2019…
Table 23-3 The following table reports nominal and real GDP for the U.S. from 1929 to 1932. Year 1929 1930 1931 1932 Nominal GDP (Billions of dollars) 103.6 91.2 76.5 58.7 Real GDP (Billions of dollars) 977 892.8 834.9 725.8 Refer to Table 23-3. What was the growth rate of real GDP for 1930? -9.43%. Nominal GDP is a better gauge of economic well-being than real GDP. -9.43%. Real GDP is a better gauge of economic well-being than nominal GDP. -8.62%. Nominal GDP is a better gauge of economic well-being than real GDP. -8.62%. Real GDP is a better gauge of economic well-being than nominal GDP.
to per * 6. U.S. growth: On page 52, we noted that the growth rate of per capita GDP. the United States between 1870 and 1929 was slightly lower than 2.0%A the growth rate between 1950 and 2018 was slightly higher. Using the follows table, calculate the actual average annual growth rates during these twvo period Year US. income 1870 $3.629 1929 $9,827 1950 $16,294 $61,125 2018
am. 136.
1
The following table gives real GDP figures for an economy for four years. Fill in the growth rate for each year, and then find the average annual growth rate for the period. Enter all answers as percentages rounded to one decimal place. The average annual growth rate for this period is Year 1999 2000 2001 2002 %. Real GDP 140 billion 151.2 billion 166.3 billion 176.3 billion Growth Rate (%) % % %

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