A nation's real GDP was $300 billion In Year 1 and $309 billion in Year 2. Its population was 120 million in Year 1 and 125 million In Year 2. What Is Its real GDP growth rate In Year 2? Multiple Choice 3 percent 9 percent 21 percent

Q: conomists measure economic growth as the a. percentage change in GDP deflator b. percentage change…

A: An increase in the market value of goods and services over a given period is referred to as economic…

Q: Income claculation for year 2013 are : Consumption=$40, Government Expenditure=$50, Investment=$25,…

A: The process by which a country's wealth increases over time is known as economic growth. Although…

Q: Country alpha and beta initially have the same real GDP per capita. Country Alpha experiences 3%…

A: Initial GDP is assuming as X. GDP growth of alpha can be calculated as follows. New GDP is X1.5126.

Q: Why do we measure economic growth using Real GDP rather than Nominal GDP

A: Real GDP, It is  the total value of goods and services produced Within a political boundary of a…

Q: Year Real GDP 2009 2010 $8 billion $10 billion Population 1.0 million 1.2 million Instructions:…

A: Real GDP per capita in 2009 will be: Real GDP per capita in 2009=Real GDP of 2009Population in…

Q: 20 Macroeconomic Information for Mexico: 2020 Q2 GDP (in 2020 Q2 pesos) 4.97 trillion pesos 2020…

A: Hello, Thank you for the question. Since there are multiple questions posted, only the first…

Q: An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677…

A: Real GDP is the money value of all final goods and services produced in an economy corrected for…

Q: Data measuring the economic growth rate, as measured the year after a major natural disaster, for…

A: Economic growth: - economic growth is the increase in the quantity of goods and services in an…

Q: A nation's real GDP was $250 billion in Year 1 and $270 billion in Year 2. Its population was 120…

A: Real GDP: - it is the inflation-adjusted value of all final goods and services produced in any…

Q: In order to improve living standards for future generations, the economy must sacrifice…

A: In an economy, the government needs to implement various policies and programs to improve the…

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Using the rule of 70 Growth rate to double = 70/years=70/25=2.8% Future value, FV = 2 Present value,…

Q: The growth rate of nominal GDP in 2019 is percent.

A: Nominal GDP is the value of all goods and services in an economy at the current price.

Q: Identify THREE public policies that can stimulate employment and facilitate economic growth in an…

A: Public policies refer to the policies that are implemented by the governments to achieve certain…

Q: If real GDP was $9,950 billion in Year 2008 and $10,270 billion in Year 2009. What was the rate of…

A: Growth means an increase in real GDP in such a manner that productivity increases and it causes an…

Q: À nation's real GDP was $300 billion in Year 1 and $309 billion in Year 2. Its population was 120…

A: When the total amount of goods and services produced in the economy by taking into consideration of…

Q: A number of countries in the world have achieved sustained economic growth. In all of these…

A: The sustainable economic growth is the implication of the growth rate that an economy has achieved…

Q: Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020…

A: A government's nominal GDP is determined using price levels and is not indexed to inflation. Compare…

Q: THREE reasons why some Government policy does NOT increase productivity and economic growth. Ensure…

A: Throughout history, every government has used some sort of industrial policy—public programs aimed…

Q: Identify 4 public policies that can stimulate employment and facilitate economic growth in an…

A: In an economy, public policies refers to the government action that has an impact on the majority of…

Q: Which of the following would lead to an increase in real GDP per capita all other things equal? * a…

A: Real GDP per capita = (Real GDP / Population) Real GDP = Base year price * Current year output.…

Q: In year 2012, the size of an economy is equal to $15 trillion; in 2013, it increases to $16.5…

A: Given that: GDP2012 = $15 tnGDP2013 = $16.5 tn Let us calculate the growth rate: g = GDP2013 -…

Q: Real GDP in Country Z is growing at 5 per cent and its population is growing at 2 per cent. In…

A: Per capita GDP It is the average output of the nation divided by the population of the country. Per…

Q: 2001, a country had a real GDP of $30,000,000 and in 2002, real GDP was $40,000,000. What was the…

A: The real GDP is the inflation adjusted level of GDP in the economy. The GDP is the summated money…

Q: Consider the following two scenarios. Scenario 1 - Uninterrupted Growth Per capita GDP starts at…

A:

Q: The following table gives some figures from forecasts of real GDP (in 2005 dollars) and population…

A: The gross domestic product (GDP) is defined as the market value of all the final commodities(goods…

Q: What can you say about Turkey in the average GDP growth for the next 3 years (2021-2023)?

A: Because of the impact of covid-19 pandemic,Turkey is expected to see decline in GDP in the next 3…

Q: Name and explain three of the five policies to achieve faster economic growth.

A: When comparing one period of time to the next, economic growth refers to an increase in the…

Q: Free market economies stimulate greater economic growth, whereas state-directed economies stifle…

A: Economic growth is characterized by increased productivity and efficient production process.

Q: Real GDP growth rate for 2016 and GDP deflator in 2016

A: Y=C+I+G+NXwhere Y=GDP which is equal to the gross market value of all goods and services produced…

Q: lent in the appropriate category. euch state GDP grows faster GDP grows slower when rule of law is…

A: The movement of GDP, a measurement of economic growth, depends upon the economic factors and…

Q: Two ways in which the manufacturing sector can contribute to economic growth

A: Economic growth is a rise in the level of services and goods that are sustained over a long period…

Q: The GDP growth has been limited to 1% in the Ottoman economy in the period of 1820-1913. How can you…

A: GDP: It is the final value of goods and services that are produced within a country during a…

Q: Answer if TRUE OR FALSE: • The following are economic measures which measure people's well-being in…

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

Q: 18  If real GDP is 250 in Year 1 and 300 in Year 2, what is the growth rate of real GDP Group of…

A: Given:  real GDP in year 1= 250  real GDP in year 2= 300

Q: What rate of GDP growth would the government need to meet its goal of doubling the population's…

A: If the government want to meet its goal of doubling the living standard in 18 years then they are…

Q: If real GDP in year 1 is $487 billion and it is $498 billion in year 2, what is the economic growth…

A: The term real GDP is defined as the inflation-adjusted value of all final products or goods and…

Q: Brazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s…

A: GDP: The GDP or the gross domestic product can be defined as the value of the final goods and…

Q: Q)1 a) Canada​'s real GDP was 2,016 billion dollars in 2017 and 2,053 billion dollars in 2018.…

A: Given: Real GDP: 2017=$ 2016 billion 2018=$2053 billion

Q: If a nation's real GDP is growing by 6 percent per year, its real GDP will double in approximately…

A: We shall use the concept called as Rule of 70. To estimate a the time it would take for the nation's…

Q: Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020…

A: An economic growth rate is the rate change in the worth of the merchandise as a whole and…

Q: Small differences in growth rates in the size of the economy, over several decades, will result in…

A: GDP means total value of goods and services produced in national boundaries in a year . And real GDP…

Q: If the real GDP growth rate in the UK is 2.0% on average, then the level of real GDP will be doubled…

A: Given : Average growth rate in the UK =2% Time to double the GDP =?

Q: Identify a three public policies that can stipulate employment and facilitate economic

A: Government policies can lead to rise in the growth rate and employment. The monetary and fiscal…

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.