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year nominal GDP REAL GDP PRICE INDEX 1 5200 4800 2 5600 5000 112 3 5900 5100 Refer to the table (GDP figures are in billion of dollars) What is GDP price index in year 3?

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 4SQ

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Question

year	nominal GDP	REAL GDP	PRICE INDEX
1	5200	4800
2	5600	5000	112
3	5900	5100

Refer to the table (GDP figures are in billion of dollars) What is GDP price index in year 3?

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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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
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Nominal GDP in year 5 is:
Homework The Aggregate Economy Revenues Expenditures GDP Year (Billions of dollars) (Billions of dollars) (Billions of dollars) 2000 2,025 1,789 9,817 2001 1,991 1,863 10,128 2002 1,853 2,011 10,470 2003 1,783 2,160 10,961 2004 1,880 2,293 11,686 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 25 EXPENDITURES AND REVENUES (Percent of GDP) 15 10 0 2003 > Expenditures 2004 2005 1999 2000 2001 2002 YEAR In which years was the government's budget in deficit? Check all that apply. 2000 2001 2002 U 2003 2004 In 2001, the national debt by 4 Revenues X A-Z हे
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COMPUTE THE NOMINAL GDP