For the first question (fill in the table), can you give me the formulas for each? Thank you so much. Year20102011201220132014201520162017Structure of the GDP in 2010Structure of the GDP in 2017Year20102011201220132014201520162017Indicators in 5 yearIndicators 2* in... years(Average 2010-2017 for thecalculations)Bread: Q10251134181318091900198720922168Nominal GDPBread: P6,26,37,88,28,58,89,1A9Real GDPAirplanes: Q3240403942454852GDP deflatorAirplanes: P230000238000405600487700522300540085580480602380Percentage change in NominalGDPFinancial Services: Q368370400485520534580615Percentage change in RealGDPFinancial Services: P120120121118134136145154CPITourism Services: Q10211280130015821677198020202505InflationTourism Services: I586566788590105110Questions.1. Fill in the table2. What year/s was(were) the most successful regarding the economic growth?3. What product contributes the most to the GDP? (2010 and 2017 current prices)4. Did the structure of the GDP change from 2010 to 2017?

Answered: Image /qna-images/answer/5e0d261c-c54f-469b-90f2-0e90cecf3dc3.jpg

Year 2010 2011 2012 2013 2014 2015 2016 2017 Structure of the GDP in 2010 Structure of the GDP in 2017 Year 2010 2010 2011 2012 2013 2014 2015 2016 2017 Indicators in 5 year Indicators 2* in... years (Average 2010-2017 for the calculations) Bread: Q 1025 1134 1813 1809 1900 1987 2092 2168 Nominal GDP Bread: P 6,2 77 6,3 7,8 8,2 8,5 = 8,8 9,1 9 2 Real GDP Airplanes: Q 32 40 40 39 42 45 48 52 GDP deflator Airplanes: P 230000 238000 405600 487700 522300 540985 580480 602380 Financial Services: Q 368 370 400 485 520 534 580 615 Percentage change in Nominal Percentage change in Real GDP GDP Financial Services: P 120 120 121 118 134 136 145 154 CPI Tourism Services: Q 1021 1280 1300 1582 1677 1980 2020 2505 Inflation Tourism Services: P 58 65 66 78 85 90 105 110 Questions. 1. Fill in the table 2. What year/swas(were) the most successful regarding the economic growth? 3. What product contributes the most to the GDP? (2010 and 2017 current prices) the most 4. Did the structure of the GDP change from 2010 to 2017?

Year 2010 2011 2012 2013 2014 2015 2016 2017 Structure of the GDP in 2010 Structure of the GDP in 2017 Year 2010 2010 2011 2012 2013 2014 2015 2016 2017 Indicators in 5 year Indicators 2* in... years (Average 2010-2017 for the calculations) Bread: Q 1025 1134 1813 1809 1900 1987 2092 2168 Nominal GDP Bread: P 6,2 77 6,3 7,8 8,2 8,5 = 8,8 9,1 9 2 Real GDP Airplanes: Q 32 40 40 39 42 45 48 52 GDP deflator Airplanes: P 230000 238000 405600 487700 522300 540985 580480 602380 Financial Services: Q 368 370 400 485 520 534 580 615 Percentage change in Nominal Percentage change in Real GDP GDP Financial Services: P 120 120 121 118 134 136 145 154 CPI Tourism Services: Q 1021 1280 1300 1582 1677 1980 2020 2505 Inflation Tourism Services: P 58 65 66 78 85 90 105 110 Questions. 1. Fill in the table 2. What year/swas(were) the most successful regarding the economic growth? 3. What product contributes the most to the GDP? (2010 and 2017 current prices) the most 4. Did the structure of the GDP change from 2010 to 2017?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

For the first question (fill in the table), can you give me the formulas for each? Thank you so much.

Year
2010
2011
2012
2013
2014
2015
2016
2017
Structure of the GDP in 2010
Structure of the GDP in 2017
Year
2010
2011
2012
2013
2014
2015
2016
2017
Indicators in 5 year
Indicators 2* in... years
(Average 2010-2017 for the
calculations)
Bread: Q
1025
1134
1813
1809
1900
1987
2092
2168
Nominal GDP
Bread: P
6,2
6,3
7,8
8,2
8,5
8,8
9,1
A
9
Real GDP
Airplanes: Q
32
40
40
39
42
45
48
52
GDP deflator
Airplanes: P
230000
238000
405600
487700
522300
540085
580480
602380
Percentage change in Nominal
GDP
Financial Services: Q
368
370
400
485
520
534
580
615
Percentage change in Real
GDP
Financial Services: P
120
120
121
118
134
136
145
154
CPI
Tourism Services: Q
1021
1280
1300
1582
1677
1980
2020
2505
Inflation
Tourism Services: I
58
65
66
78
85
90
105
110
Questions.
1. Fill in the table
2. What year/s was(were) the most successful regarding the economic growth?
3. What product contributes the most to the GDP? (2010 and 2017 current prices)
4. Did the structure of the GDP change from 2010 to 2017?

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Step 1: State the given information

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Step 2: State the formulas

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Step 3: Calculate Nominal GDP for all years

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Step 4: Calculate Real GDP

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Step 5: Calculate percentage change in Nominal GDP and Real GDP

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Step 6: Calculate GDP Deflator

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Step 7: Calculate CPI

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Step 8: Comment on Economic Growth

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Step 9: Calculate Inflation Rate

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Step 10: Calculate Average Values

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