Which of the following is an example of a macroeconomic indicator? A)The price of a specific product B)The income of an individual household C)The unemployment rate D) The sales of a particular company
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Which of the following is an example of a
- A)The
price of a specific product - B)The income of an individual household
- C)The
unemployment rate - D) The sales of a particular company
Step by step
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- Which of the following variables is not a real variable? Group of answer choices The amount of corn The dollar wage The nominal interest rate adjusted for inflation The price of bananas relative to the price of orangesA number of statistics are computed to measure the price level, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question in which you are interested. For each of the following situations, state whether the CPI or GDP deflator is a more appropriate measure to use and explain why the statistic is preferred. a. You are interested in looking at the impact of higher prices of imported oil in the overall cost of living. b. The government is interested in whether increases in defense spending are affecting the price level. c. An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.a) Calculate GDP Deflator of 2009. b) Calculate the Growth rate of real GDP of 2009. c) What can you conclude from your answer to part a. d) What can you conclude from your answer to part b. Please answer all and answer must be correct.
- The table below represents the goods that are produced in Surrrey. Bread and water are used by the citizens of the city. Half of all plows are used by the city council, while the rest are used by citizens. Metal is used to produce plows and nothing more. When necessary, use 2013 as the base year. The typical consumer buys 10 bread, 100 water, and 2 plows. Use this table for questions 2-9. Bread Water Plows Metal Price Quantity $43 $44 $46 Price Price Quantity Price Quantity Quantity $2 $3 $3 800 1000 $150 1100 $200 1100 $200 2011 100 $1 60 2012 110 $1 70 875 2013 120 $1 70 900 $5 $2 1100 $210 40 $49 934 2014 120 7. Calculate inflation for all adjacent years. how work.Which of the following is not a micro-economic variable?[A] Demand of a commodity[B] Supply of a commodity[C] Price rise of a commodity[D] Employment generated in a year in a countryCan you please answer the last three questions. Thank you.
- A small nation of 10 people idolizes the TV show The Voice. All they produce and consume are karaoke machines and CDs, in the following amounts: 2020 2021 Karaoke Machines Price (Dollars) 20 Quantity 10 15 30 CDs Quantity 50 60 Price (Dollars) 13 15 Using a method similar to that used to calculate the consumer price index, the percentage change in the overall price level is Use 2020 as the base year, and fix the basket at 1 karaoke machine and 5 CDs.) Using a method similar to that used to calculate the GDP deflator, the percentage change of the overall price level is use 2020 as the base year.) Which of the following statements is correct? Check all that apply. The inflation rate in 2021 is not the same using the two methods. The CPI holds the basket of goods and services constant. The GDP deflator allows the basket of goods and services to change. . (Note: (Note: Again,An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have one part-time job, 5 have two part-time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up looking, 10 are running their own businesses, 10 are retired, and 10 are small children. a) Calculate the size of the labor force and the labor-force participation rate. b) Calculate the number of unemployed and the unemployment rate. c) Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey.Consider an economy that produces and consumes hot dogs and hamburgers. In the following table are data for two different years. Good Hot dogs 120 2010 Hamburgers 200 150 160 Quantity Price Quantity Price 200 2020 None of the above. $2 250 Using 2010 as the base year, what is the implicit price deflator in 2020? $3 500 $4 $4
- The Data of Macroeconomics – Work It Out Question b. Calculate the percentage change in each of the 2 following between 2010 and 2015. Consider an economy that produces and consumes bread and automobiles. The table includes data for two different years. % change auto prices = % 2010 2010 2015 2015 Good Quantity Price Quantity Price Automobiles 70 $46000 120 $65000 % change bread prices % %3D Bread 590000 $8 370000 $17 Round answers to to places after the decimal where % change GDP deflator = % necessary % change CPI = %An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have one part-time job, 5 have two part-time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up looking, 10 are running their own businesses, 10 are retired, and 10 are small children. Calculate the labor force and the labor-force participation rate. Calculate the number of unemployed and the unemployment rate. Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey.When computing the cost of the basket of goods and services purchased by a typical consumer, which of the following changes from year to year? Select one: a.the quantities of the goods and services purchased b.the prices of the goods and services c.the goods and services making up the basket d.None of the answers are correct
