Exploring Economics
8th Edition
ISBN: 9781544336329
Author: Robert L. Sexton
Publisher: SAGE Publications, Inc
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Question
Chapter 19, Problem 12P
To determine
To compute:
The missing data.
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Economics
The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow.
Goodland Economy 2017 and 2018
Items
Production
Price per/unit ($)
Production
Price per/unit ($)
Rice (tons)
50,000
1.5
55,000
2
Wheat (tons)
1,00,000
2
98,000
2.5
Tractors
50,000
23,000
45,000
24,500.00
mid-size (units)
Cotton (tons)
1,20,000
100
1,10,000
120
Used cars (units)
5,000
5,000
6,000
7,000
Manufacturing Garments (tons)
1,50,000
50
1,45,000
70
Eggs (trays)
2,000
2.5
2,300
3.5
Coca Cola (litres)
6,000
0.8
6,500
1.2
Pepsi Cola (litres)
700
1.1
850
1.5
Beef (tons)
5,000
6.5
4,800
8.5
Second hand clothes (tons)
500
15
450
25
Alcoholic Beverages (litres)
500
3.25
600
3.75
Milk (litres)
7000
2.3
7,500
2.5
Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP.…
In your company (electrical goods manufacturing), you want to
forecast demand as well
of a particular range of Smart TVs. Its monthly sales
previous year, are presented in the table below:
Month Sales
January 400
February 650
March 1,150
April 1,700
May 500
June 900
July 1,150
August 1900
September 600
October 650
November 1,600
December 2050
Based on the above historical sales data:
A) Create the corresponding graph and comment on the demand
(sales) in terms of
in trend, seasonality and periodicity
please draw the diagram!!!!
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