Nominal GDP measures the value of all goods and services Group of answer choices without inflation. in constant dollars. in fixed dollars. in current dollars.
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Nominal
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- If Gdp deflator is equal at 90 it means that : 1- stagflation 2- deflation 3- inflation 4- stabilityQuestion a.Calculate GDP Deflator for all three years. b.Calculate Inflation rate in year 2 and year 3. c.Now calculate Inflation rate in year 3 compared to year 2.The nominal GDP for 2021 is $125 billion, and the real GDP for 2021 is $100 billion. (1). Calculate the GDP Deflator in 2021? Show your calculation. (2). Also assume that the GDP deflator in 2020 was 100. What is the inflation rate over the 1-year period? Show yourcalculation.
- To measure the inflation rate, we calculate the percentage change ini. the consumer price indexii. the GDP deflatoriii. real GDPiv. nominal GDP a.iii b. any of these c. i, ii, or iii b. i or iiWhich statement best describes the difference between Nominal and Real GDP? Group of answer choices Nominal GDP is Real GDP that has been adjusted to remove the distorting effects of inflation. Real GDP is calculated using current market prices, while Nominal GDP is calculated using the average prices of the last 5 years. Nominal GDP is calculated using current market prices, while Real GDP is calculated using the prices of the previous year. Real GDP is Nominal GDP which has been adjusted to remove the distorting effects of inflation.Which of these can measure national income? а. Employment rate b. Inflation rate С. Gross domestic product d. Consumer price index
- MCQS 1- Which of the following is NOT a component of Gross Domestic product? Investment. Consumption. Tax Government Expenditure 2- ………… is the market value of all final goods & services produced within a country in a given period of time. Inflation Multiplier Gross Domestic Product Gross National Product 3- ………………... refers to the measure of the overall cost of the goods and services bought by a typical consumer. Producer price index Nominal interest rate Consumer price index Inflations please answer all mcqsCalculate the inflation rate using the GDP deflator based on the Laspeyres, Paasche, and chain- weighted indexes of GDP (use the approximate formula).If Gdp deflator is less than 100 it means that : 1- stagflation 2- deflation 3- inflation 4- stability
- Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. Base Year 2011 Product Textbooks 90 Hamburgers 75 50 Shirts Cotton 2011 100 2012 Quantity Price Quantity $50 100 2 100 30 50 0.80 800 Price $60 2 25 0.60 2013 Quantity 100 120 65 120 Price $65 2.25 25 0.70Indexation is done using the CPI and is equivalent to measuring the real GDP. True O FalseA hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2009. Prices and Quantities Year Price of Quantity of Price of Quantity of D. Movies Movies Popcorn Popcorn Tab 2009 $11.00 500 $4 900 pres 2010 $12.00 600 $5 1000 What was this country's GDP deflator in 2010? Exp Cons Select one: Da. 150 Refer the Ob 77.8 A 17 128.6 Od. 100 MG 20 Type here to search.