To answer Questions #1 through #4 use the following information: Suppose that in the nation state of Raleighville there are2 final goods produced in the economy - dog food and kitten chow. Suppose the economy produces 15 units of dog foodand 5 units of kitten chow in 2000 (the base year), and 20 units of dog food and 10 units of kitten chow in 2020. Furthersuppose the price of dog food was $1.00 per unit in 2000, and $3.00 per unit in 2020; whereas the price of kitten chowwas $1.00 in 2000 and $2.50 in 2020.What was the nominal GDP for Raleighville in 2000?O a. $20.00O b. $30.00$57.50O d. $85.00Next page

Gross domestic product is being measured as the monetary value of goods and services in an economy…

Answered: To answer Questions #1 through #4 use…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6) Use the figure below to answer this question. Interest Rate (%) 12 10 Loanable Funds (in billions of Pounds) [Page 6 of 9] [ECO If the interest rate is 8% households and firms will want to borrow: a) £3 billion b) £2 billion c) £4 billion d) £1 billion 2.
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Country A produces Car (final good), Engine (intermediate good) and milk (final good), and imports Pizza. The table below shows the prices and production levels of Car, Engine and Milk, and the prices of Pizza in two years. The consumption basket of the typical consumer in A consists of one Car, 8 milk and 5 Pizza. Year 2 is the base year. If you need to round your answer, round it off to two decimal places. P of Car Q of Car P of Engine Q of Engine P of Milk Q of Milk P of Pizza Year 1 200 20 40 60 1 100 3 Year 2 220 30 50 50 2 110 3 6.a. Answer A’s GDP deflator in year 1. 6.b. Answer CPI in year 1.
Country X $m Private Consumption Expenditure 400 Gross Fixed Capital Formation 50 Exports 100 General Government Expenditure 70 Net changes in Physical Stocks + 10 Imports 160 Indirect taxes on goods and services 65 Subsidies 25 Net property inflows from abroad 40 Net property outflows to abroad 30 Capital Consumption 40 What is the Total Domestic Expenditure (TDE) figure at market price for Country X? What is the GDP figure at factor cost for Country X? What is the NNP figure at factor cost for Country X? What is the Gross Domestic Product (GDP) figure at market price for Country X?
Assume an economy with a coal producer, a steel producer, and some consumers. (There is no government.) In a given year, the coal producer produces 15 million tonnes of coal and sells it for $6 per tonne. The coal producer pays $70 million in wages to consumers. The steel producer uses 45 million tonnes of coal as an input into steel production, all purchased at $6 per tonne. Of this, 15 million tonnes of coal comes from the domestic coal producer, and 30 million tonnes is imported. The steel producer produces 20 million tonnes of steel and sells it for $35 per tonne. Domestic consumers buy 16 million tonnes of steel, and 4 million tonnes are exported. The steel producer pays consumers $40 million in wages. All profits made by domestic producers are distributed to domestic consumers. a. Determine GDP using (i) the product approach, (ii) the expenditure approach, and (iii) the income approach. (i) Using the product approach, the value added by the coal producer is $ million, the value…
P1
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2020 Statistics 2021 Statistics Quantity 2012 Statistics Product Quantity Price Quantity Price Price $50.00 $65.00 Shoes Hamburgers Shirts Cotton $60.00 2.00 90 100 100 100 75 2.00 30.00 0.09 120 2.25 50 50 25.00 65 25.00 11,000 10,000 0.08 11,000 0.07 a. If the base year is the year 2012, then real GDP for 2020 equals $ 6700 (round your answer to the nearest penny) and the real GDP for 2021 equals $ (round your answer to the nearest penny).
Eden, a country, produces just two output goods: apples and snakeskin handbags. In 2014 the prices of apples and hand bags were 10 and 24, respectively. In 2015, the prices increased to 12 and 25. The quantities produced of the two goods were unchanged in both 2014 and 2015, at 100 and 20. From this information, we can conclude that:
In a hypothetical economy, coal is sold to electricity producers at a rate of 100 cents per kW (i.e. the amount of electricity the coal can produce). Electricity is produced by power producers and sold to distributors at a rate of 150 cents per kW. These distributors then well the electricity to final consumers at a rate of 200 cents per kW. There were 50 million kW were produced in 2021. Assuming no other good was produced in this economy it can be concluded in 2021 that: a) The GDP in this economy according to the production method is R 50 million b) The GDP in this economy according to the expenditure method is R 200 million c) The GDP in this economy according to the value added method is R 50 million d) The GDP in this economy according to the value added method is R 100 million
Please solve #3 only . ASAP please.
Please solve#6 only ASAP.

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