18. If nominal GDP is $5 million and the real GDP is $4 million, what is the GDP deflator? a 0.80 b. 0.75 C. 1.25 d. 0.20

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A: Nominal GDP is a measure of the value of goods (commodities) and services produced (manufactured) in…

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A: Gross domestic product (GDP) is the standard measure of the value added created through the…

Q: Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica.…

A: The provided table is: The formula to compute the nominal GDP is: Nominal GDP=GDP Deflator×Real…

Q: explain three limitation in measuring the real gdp

A:

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A: A way of measuring the economic wellbeing of a nation, the GDP is the amalgamation of all the values…

Q: Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica.…

A: Nominal GDP: - it is the value of all final goods and services produced in any country in a given…

Q: What is the GDP deflator?  How does the GDP deflator relate to real GDP?  Real adjusts for…

A: The GDP deflator is a tool used for understanding the movement of price from the base year to the…

Q: Question 2 If Nominal GDP is $12,000 billion and the GDP deflator is 80, then Real GDP is a) $15,000…

A: here we can find the Real GDP by using the GDP deflator because here GDP deflator is given , so…

Q: Milk Quantity of Milk  (Quarts) Price of  Honey Quantity of Honey  (Quarts) 2007 $1 100 $2 50 2008…

A: Nominal gross domestic product(GDP) is GDP given in current costs, without change for inflation.…

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A: Here, price and quantity of various products are given for two different years that are 2008 and…

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A: GDP deflator Shows the price level of all new goods and services of domestic products in this year's…

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A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: 3. Compute Nominal GPD, Real GDP, and GDP Deflator using the data below Compute the % change in…

A: Nominal GDP is current year GDP. Real GDP is constant year GDP.

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A: Hi Student, Thanks for posting the question. As per the guideline, we are providing answer for first…

Q: oduce shirts. 2012 Statistics 2020 Statistics 2021 Statistics Product Quantity Price Quantity Price…

A: Real GDP measures value of goods and services using constant set of prices.

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A: Given: Base year GDP=$1000 bln After 10 years, Decrease in GDP Deflator=10% Increase in Real GDP=15%…

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Q: QUESTION 27 If nominal GDP in 2014 is $20.000 billion while real GDP is $16,500 billion, then the…

A: GDP Deflator = Nominal GDPReal GDP×100Unemployment rate = Number of Unemployed personLabor…

Q: Consider the fóllowing data. Assuming these are the only products produced and consumed in the…

A: Note:- Since we can only answer up to three subparts we will answer the first three. Please repost…

Q: The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the…

A: The country of Caspir produces only cereal and milk . Given that, the base year is 2008.

Q: Calculate GDP using the information in the table below: SBillions Government purchases of goods 1200…

A: since you have asked multiple questions and according to our policy we can only solve the first…

Q: Now, suppose that some goods are not sold. e. Calculate the new real GDP for 2018 (2019 base year)…

A: Real GDP measures the money value of all final goods and services produced in an economy adjusted…

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Q: What does GDP attempt to measure?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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A: GDP deflator = Nominal GDP / Real GDP * 100 where, Nominal GDP = (Deflator * real GDP) / 100 in base…

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Q: 18. If nominal GDP is $5 million and the real GDP is $4 million, what is the GDP deflator? a 0.80 b.…

A: GDP Deflator calculate the price level of all final goods and services which is domestically…

Q: 16. If all quantities produced rise by 5% and all prices fall by 5%, which of the following best…

A: GDP is the value of final goods and services produced in the economy within a given period of time.

Q: Assume an economy consumes only two goods: food and clothing. The prices and quantities produced…

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A: "Nominal GDP growth rate is computed by adding growth rate in real GDP and inflation rate (which is…

Q: 8. A farmer grows a bushel of wheat and sells it to a miller for birr 8.00. The miller turns the…

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Q: Consider a simple economy that produces two goods: cupcakes and erasers. The following table shows…

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Q: a. What is Sri Lanka's GDP deflator if its nominal GDP is $88.9 billion (in current US$) and the…

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Q: 2. Which of the following variables is a. Nominal GDP b. Real GDP c. GDP Deflator A none of the…

A: Gross domestic product measures the market value of final goods and services produced by an economy…

Q: Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica.…

A: GDP Deflator = (Nominal GDP/ Real GDP)*100 (GDP Deflator* Real GDP)/100 = Nominal GDP

Q: 10. Which of the following is included as investment in GDP? i. Cars produced during the year but…

A: GDP is the sum of consumption expenditure, investment expenditure, government expenditure and net…

Q: A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these…

A: The value of all final goods and services that are produced domestically within given duration…