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- Again, please work with the following data set. It describes production of the only three goods made by Economy Zeta, along with their prices, for each of three years. Quantity Price of Quantity of Price of Quantity of Price of of Food Food Energy Energy Shelter Shelter 2018 800 $5 1000 $10 200 $100 2019 850 $6 1100 $12 240 $100 2020 850 $7 1200 $14 300 $100 Year Economists estimate that the average person in this economy consumes 12 units of food, 20 units of energy, and 2 units of shelter over the relevant period. 2018 is the base year. Using the GDP deflator, the inflation rate between 2018 and 2019 for this nation is ______________ percent. (Enter your answer "as a percent, but without the percentage sign." If you think the inflation rate is 99.99 percent, enter only 99.99 in the blank.)Draw a diagram clearly illustrating the macroeconomic flow of income and expenditure between households and companies through the goods and factor markets.1. What relationship does the income expenditure model represent? Why is it used?
- 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 af the ontton is used to produce shts 2012 Statistics 2020 Statisties 2021 Statistics Product Quantity 120 Quantity Price Quantity Price Price $75.00 3.50 Shoes 110 $55.00 120 $70.00 Hamburgers 85 3.00 120 3.00 135 Shirts 50 30.00 50 25.00 66 25 00 Cotton 12,000 0.09 12.000 0.07 13.000 0.08 af the base year is the year 2012, then real GDP for 2020 equals $ (round you answer to the nearest pennyl and the real GDP for 2021 equals S (round your answer to the nearest pennyl. b. The (annual) growth rate of real GDP in 2021 is %. (Enter your response as a percentage rounded to hwo decimal places.)Show expenditure as well as income method...How to classify goods as consumption goods and capital goods? Is there any specific way to do so?
- What is household consumption expenditure reflecting in terms of GDP of a country? What it indicates when the value is high or low?Early during the COVID-19 pandemic, the government used multiple stimulus packages to increase government spending. 3. Using the Z-Y, NX-Y, IS-LM, UIP combined graph on the next page, what should be happening as a result? Show the shifts on the graph itself. NN Z Z NN Y=Z Z c0- if f UI i pvt L M c1T+I+G+NX i10 y 45° if f if NK N Y Y f 0 Y X Y 0 Y 0 Y 20 NX N X E 0 E Y NX Fiscal stimulusA consumer expenditure survey reports the following information on consumer protein spending: Fish Chicken Beef Multiple Choice Multiple Choice 0.9 percent 1.4 percent Price $ 5.80 1.8 percent $3 $ 3.10 Using 2019 as the base year, by how much does a "cost of protein" index decrease between 2019 and 2020? 3.6 percent 2019 Quantity 5 14 7 Using 2019 as the base year, by how much does a "cost of protein index decrease between 2019 and 2020? Price $7 $ 1.50 $5 2020 Quantity 6 12 10 G
- Y7 Using the following question: "Is the value of the final goods determined by the factors of production OR does the value of the final Goods determine the value of the factors of production?" How were the Marginalists different than previous economists?The following is production data: Orange Juice (Quantity) 600 610 620 Year Waffles Waffles (Quantity) (Price) 2010 100 $3 2011 120 $3.20 2012 150 $3.50 Orange Juice (Price) $1 $2 $3 Toaster Ovens (Quantity) 280 300 300 Toaster Ovens (Price) $22 $25 $28 The above, like I said, is production data. Consumption data is as follows: the average citizen consumes 80 waffles, 20 units of orange juice and 10 toaster ovens. 2010 is the base year for all calculations. Carefully following all directions for entering your answer, tell me the price/cost of the market basket for 2012.The following is production data: Orange Juice (Quantity) 600 610 620 Year Waffles Waffles (Quantity) (Price) 2010 100 $3 2011 120 $3.20 2012 150 $3.50 Orange Juice (Price) $1 $2 $3 Toaster Ovens (Quantity) 280 300 300 Toaster Ovens (Price) $22 $25 $28 The above, like I said, is production data. Consumption data is as follows: the average citizen consumes 80 waffles, 20 units of orange juice and 10 toaster ovens. 2010 is the base year for all calculations. Carefully following all directions for entering your answer, calculate real GDP for 2010 for this economy.
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