Using the table below, calculate real GDP (in billions of dollars) in2006. Round your answer to the nearest tenth.Year20022003200420052006Nominal GDP(in billions of dollars)8, 309.89, 890.910, 302.910, 856.811, 200.8Provide your answer below:billionGDP Deflator(2005=100)85.387.692.4100108

Real GDP, which is unaffected by price fluctuations and hence simply reflects changes in the…

Answered: Using the table below, calculate real…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate GDP deflator from the following table: Year Nominal GDP Real GDP 2000 8952 8952 2001 9200 9050 2002 10,000 9500 2003 10,030 9330 2004 11,100 10,000
Using the table below calculate the missing values. Take all calculations to 2 decimal places. $ not required. Year 2010 2011 2012 2013 2014 2015 Nominal GDP 2,450 2,660 2,870 3,155 Number 3,558.4 Real GDP Number 2,745 Number 3,025 3,140 3,353.4 GDP Deflator 0.94 Number 1.00 Number Number 1.06 Number Include a negative sign where appropriate in the following answers: Part 7: Nominal growth rate year (2010-11) Number Part 8: Nominal growth rate year (2012-13) Part 9: Inflation rate year (2010-11) Number Part 10: Real growth rate year (2011-12) Number Part 11: Inflation rate year (2014-15) Number Part 12: Real growth rate year (2013-14) Number
Use the following data to answer this question. a. Calculate real GDP in 2006, 2008, & 2010 in 2005 dollars. b. What was the percent change in real GDP between 2006 and 2008? What was the percent change between 2008 and 2010?
4.
Using the figures provided in Table 1, what is Real Per Capita GDP, to the nearest whole dollar, for 2005? 40.9% $4,089.3 $40,894 $408,935 Can not be determined with the information provided Table 1-Nominal GDP and Real GDP Nominal Real GDP Year GDP GDP Population Deflator 1997 6,240 6,500 233 96 1998 6,887 7,100 239 97 1999 7,791 7,950 242 98 2000 8,750 8,750 250 100 2001 8,415 8,250 256 102 2002 9,450 9,000 264 105 2003 10,746 9,950 275 108 2004 12,096 10,800 286 112 2005 13,804 11,900 291 116 2006 14,735 300 120 2007 (est.) 16,875 13,500 310 125 GDP Figures in Billions Population Figures in Millions
The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2013 and 2014. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. Fill in the columns for the GDP deflator and for the percent increase in price level. (Round your responses to two decimal places!) Quarter Nominal GDP Real GDP GDP Deflator Percent Increase in Price Level (%) 2013 Q1 16,502.40 15,538.40 106.20 ---- 2013 Q2 16,619.20 15,606.60 ? ? 2013 Q3 16,872.30 15,779.90 ? ? 2013 Q4 17,078.30 15,916.20 ? ? 2014 Q1 17,044.00 15,831.70 ? ? 2014 Q2 17,328.20 16,010.40 ? ? 2014 Q3 17,599.80 16,205.60 ? ? 2014 Q4 17,703.70 16,294.70 ? ? Please explain how to solve the empty columns thank you!
The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate % change for City A’s total spending from 2010 to 2020 in current dollars. *Results round to the nearest 2 decimal places. Calculate % change for City A’s total spending from 2010 to 2020 in constant dollars. *Results round to the nearest 2 decimal places. Why does % change calculated from constant dollars differ from % change calculated from current dollar? Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: Calculate the compound annual growth rate of per capita spending from 2010 to 2020…
Consider the following national accounts data for Westeros: Westeros' National Accounts (2019) GDP Item (S billions) Corporate income 140 Еxports 50 Wages and salaries 550 Net international income to the rest of the 8 world Gross investment 160 Government purchases 184 Indirect taxes 75 Personal consumption 500 Imports 27 Depreciation 79 Proprietors' incomes and rents Which is the following is the income-based estimate of GDP for Westeros? 65 $909 billion $751 billion $558 billion $939 billion
need help with this one. Using the data in the table below related to nominal GDP and the chain-weighted price deflators for gross domestic product (e.g., price index for GDP), answer the following questions:
Use the information from the preceding table to fill in the following table. Nominal GDP Real GDP (Base year 2019, dollars) GDP Deflator Year (Dollars) 2019 2020 2021
According to the Bureau of Economic Analysis, the GDP Deflator for the 3rd Quarter 2021 is +5.7%. The U.S. Bureau of Labor Statistics reported the Consumer Price Index (CPI) as rising 5.4 percent over the last 12 months, not seasonally adjusted. Given this information: 1) Interpret these data and summarize its meaning. 2) What are these data measuring? 3) If you were a business economist, which would you use and why?
The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP(trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010).$ trillion(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)$ trillion(d) Use your answer from part (c) to…

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