i need help with this activity. deadline today Activity 1 - Introduction to Macroeconomics1. If the GDP deflator was 100 in the base year of 2018, and 105 in 2020, we can say thata the price level increased by 5 percent from 2018 to 2020.b. the price level increased by 105 percent from 2018 to 2020.c. the price level increased by 205 percent from 2018 to 2020.d. we cannot judge price increases from changes in the GDP deflator.Refer to the macroeconomic data from the Philippine Statistics Authority provided belowto answer the next two (2) questions:Year201920202021GDP in million Php(Current prices)19,517,86317,951,57319,410,568GDP in million Php(2018 prices)19,382,75117,537,84318,538,053CPI(2012-100)120.2123.3128.82. What is the growth rate of the Philippine economy by 2021?a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%.b. The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%.c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%.d. None of the above.3. How do you compare the inflation rate in 2021 to the inflation rate in 2020?a The inflation rate in 2021 is lower by 4.46% than the inflation rate in the previous year.b. The inflation rate in 2021 is higher by 4.46% than the inflation rate in the previous year.c. The inflation rate in 2021 is exactly equal to the inflation rate in 2020.d. The inflation rate in 2021 cannot be compared to the inflation rate in 2020.4. Assume no government and no international trade in a country. Show that measuredsavings is identical to measured investment.

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1. If the GDP deflator was 100 in the base year of 2018, and 105 in 2020, we can say that a the price level increased by 5 percent from 2018 to 2020. b. the price level increased by 105 percent from 2018 to 2020. c. the price level increased by 205 percent from 2018 to 2020. d. we cannot judge price increases from changes in the GDP deflator.

1. If the GDP deflator was 100 in the base year of 2018, and 105 in 2020, we can say that a the price level increased by 5 percent from 2018 to 2020. b. the price level increased by 105 percent from 2018 to 2020. c. the price level increased by 205 percent from 2018 to 2020. d. we cannot judge price increases from changes in the GDP deflator.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 7PA

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i need help with this activity. deadline today

Activity 1 - Introduction to Macroeconomics
1. If the GDP deflator was 100 in the base year of 2018, and 105 in 2020, we can say that
a the price level increased by 5 percent from 2018 to 2020.
b. the price level increased by 105 percent from 2018 to 2020.
c. the price level increased by 205 percent from 2018 to 2020.
d. we cannot judge price increases from changes in the GDP deflator.
Refer to the macroeconomic data from the Philippine Statistics Authority provided below
to answer the next two (2) questions:
Year
2019
2020
2021
GDP in million Php
(Current prices)
19,517,863
17,951,573
19,410,568
GDP in million Php
(2018 prices)
19,382,751
17,537,843
18,538,053
CPI
(2012-100)
120.2
123.3
128.8
2. What is the growth rate of the Philippine economy by 2021?
a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%.
b. The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%.
c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%.
d. None of the above.
3. How do you compare the inflation rate in 2021 to the inflation rate in 2020?
a The inflation rate in 2021 is lower by 4.46% than the inflation rate in the previous year.
b. The inflation rate in 2021 is higher by 4.46% than the inflation rate in the previous year.
c. The inflation rate in 2021 is exactly equal to the inflation rate in 2020.
d. The inflation rate in 2021 cannot be compared to the inflation rate in 2020.
4. Assume no government and no international trade in a country. Show that measured
savings is identical to measured investment.

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