Year Px Py Pz GDP Real GDP GDP P 10 35 1 20 10 Blank 1 Blank 2 Rlank 3 2 12 35 25 15 Blank 4 Blank 5 Blank 6 3 15 7 40 30 12 Blank 7 Blank 8 Blank 9 4 20 50 35 12 Blank 10 Blank 11 Blank 12 5 30 50 5 40 14 Blank 13 Blank 14 Blank 1: Using the above table, calculate GDP (nominal) for each SSS SS 2. 2. S SS SS 1.
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- Real and Nominal GDP jenergy drinks 2 video games year 1 price year 1 output year 2 price year 2 output 40 100 500 40 2.5 120 550 year 3 price year 3 output 45 2.5 150 600 Based on the table "Real and Nominal GDP," if year one is the base year, then the real GDP in year three, is A) 7200 В) 8250 С) 1050 D) 7500 E) none of the aboveA hypothetical country of Narnia produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown in the following table. The base year is 2017. Year 2016 2017 2018 2019 Price (Dollars per movie) 7.6% 7.5% Movies 7.2% 7% 10.00 11.00 12.00 12.00 Quantity Quantity (Movies) (Dollars per bag) (Bags) 500 600 650 625 Popcorn Refer to Table 23-5. What was the rate of inflation for Narnia in 2019? (Hint: round-off to the nearest decimal point) Price 5 4 5 6 1,000 900 950 925The table contains price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and Escape SUVs. 2016 2016 2017 2017 price quantity price quantity ford escapes $24,485 307,069 $24,645 308,296 ford trucks $44,400 820,799 $24,645 896,764 a. Calculate the amount contributed by Ford to U.S. GDP (real and nominal) from the sales of the two models in 2016 and 2017. b. Determine the growth rate of nominal GDP (if Ford were the entire economy). c. Determine the growth rate of real GDP (if Ford were the entire economy).
- The table below presents a brief summary of City Y’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 Interpret what the two spending-to-GDP ratios tell us about City Y’s spending trend. Assuming City Y’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City Y’s population in 2030.The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2010 132 69 2009 120 Quantity of fish Quantity of watches Price of fish 60 $8.00 $9.20 Price of watches $30.00 $31.50 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices GDP for 2010 in 2010's prices Using 2009 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. Using 2010 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. The geometric average of the two inflation rates $ 69 % % %Analysis of the Data The following data is taken from The Economic Report to the President 2018. It comes out once a year in April (I think). You should take a look at one just for kicks. Here are the data: 2007 2017 GDP (Y) $14.47 trill $19.38 trill C $9.75 trill $13.39 trill I $2.60 tril $3.19 trill Given the data in the table above, what is the rate of economic growth for the U.S. economy from 2007 to 2017? Is the rate of growth in consumption and investment spending similar to the rate of growth for the overall economic system from 2007 to 2017? Provide mathematical proof. The GDP for China was $12.14 trill. in 2017; $13.61trill in 2018; and $14.14 trill in 2019. World experts have noted that the rate of growth for China has slowed. Calculate the rates of growth for each of the two years. Are the experts correct? Why? According to the International Organization of Motor Vehicle Manufacturing (IOMVM), South…
- Complete the following table by filling in the missing cells. Real GDP Nominal GDP Year (In 2000 dollars) (In current dollars) GDP Deflator (Base year 2000) 1970 3,000 1,200 1980 5,000 60 1990 7,000 6,000 100 2000 9000 8,000 2010 15,000 200 2020 10,000 300 2030 20,000 50,0002015 2016 2017 P Q P Q P Q Onion 1,2 400 1,5 600 2,5 400 Tomato 1 320 2,5 200 4 400 Pepper 4 50 12 50 14 50 Assume that there are only 3 goods produced in the economy. As seen in the table above, price(P) and quantity(Q) of goods are given for each year. Base year is 2016. According to this, Calculate nominal GDP for each year Calculate real GDP for each year Calculate the growth rate for the years 2016 and 2017 Calculate the inflation in 2016 and 2017 by using GDP deflatorGDP 1. Calculate the values for the blanks in the shaded areas of the table below: Expenditure Components of GDP by Country, 2020 (83Son of current US dollars) Australia Canada Denmark Finland Japan India 1617 137.9 873 65.9 C E FOOD 80.0 65.3 16 0.5 L M N 195.4 97.G 1725 96.7 Household consumption Government expenditure Investments Gross fixed Investments Changes in inventories Net Exports Exports Imports A: ÄÜÄ÷ B: C: D: E: F: G: H: I: J: 746.5 K: L: 297.2 A 316.9 4.3 3152 254.7 943.7 371.8 B 377.7 (147) K 476.0 509.8 M: N: 0: P: 1,591.7 Q: R: 292.1 722.0 97.0 4973 $11.3 કીડી || T: 2.700.7 Y: 1,066.4 1,279.5 106 785.4 786.2 New Zealand UK 122.0 43.7 G 47.3 (p.s) P 46A GDP S U W Y Source: GOP by Type of Expenditure at current prices-US dollars, Retrieved 7/27/2022. National Accounts Estimates of Main Aggregates United Nations feste Division 472 Z: ZZ: 1,683.7 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports?…
- Use the list to determine the United States' GDP for the year 2013. Hint: Some goods should not be included in the GDP calculation. Good Produced Total Value 2013 Bicycles 500 Thrift Store 250 Clothing Food Stamps 650 New Computers 1500 Engines for New 800 Cars New Refrigerators Used Motor Cycles 485 340 Movie Tickets 100 Windows for New 1000 Buildings Fresh Bananas 200 $2640 $3690 $2890 $4175 Sign ou hpThe table below shows the annual population and nominal total GDP for New Zealand. Based on the data, which of the following options are correct? Select one correct answer. 4 Year 2015 2016 New Zealand Key Figures GDP (Current US $) $ 178,064,471,137.92 $ 188,838,342,527.98 Population 4,609,400 4,714,100 O GDP per capita in 2016 was $40,058.20 GDP per capita fell by 3.70% in 2016 compared to the previous year O New Zealand's population and GDP both rose such that the overall GDP per capita growth rate was zero O GDP per capita rose by 3.56% in 2016 compared to the previous yearThe table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate 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: 2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively. *Results round to the nearest 2 decimal places. 2010 spending-to-GDP ratio: 2020 spending-to-GDP ratio: Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend. 4. Assuming City A’s population grows at a constant rate in the next decade.…