Eco please help..... GDP in billions ofcurrent dollars(NGDP)GDP in billions ofchained 2012 dollarsYear(RGDP)201015,049.015,649.0201115,599.715,891.5201216,254.016,254.0201316,843.216,553.3201417,550.716,932.1201518,206.017,390.3201618,695.117,680.3201719,477.318,076.7201820,533.118,609.1201921,381.019,036.1202021,060.518,509.1202123,315.119,609.8202225,462.720,014.1Calculate the annual growth rate of NGDP and RGDP in 2021. Calculate the annualgrowth rate of NGDP and RGDP in 2022.The annual growth rate of NGDP in 2021 wasgrowth rate of RGDP in 2021 wasthan in 2022, and the annualthan the one in 2022.○ 1.5% lower; almost 4% higher1.5% higher; almost 4% lower1.5% higher; almost 4% higherNone of the above

First, let's compute the growth rate experienced in 2021 and 2022 with this formula:Growth rate =…

Answered: GDP in billions of current dollars…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 2P: Which of the following are included in GDP calculations? a. Cleaning services performed by Molly...

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Consider a Melanesian island nation in the South Pacific, which had a population of 0.88 million in 2010. The table below presents the nominal GDP and the GDP deflator (based on 2005 being the base year) for the years 2010, 2015 and 2020.YearNominal GDP ($millions)GDP Deflator201017500103.7201518222104.8202018755105.9Over each 5-year period, there were no significant changes to goverment policies or capital investment, and the country experienced a net migration of 0%. However, over the first five years (2010 to 2015), the growth rate of births was 12.5% while the growth rate of deaths was 7.5%. This resulted in a 5% population growth. Over the second five years (2015 to 2020), health care significantly improved such that the growth rate of births increased to 15% while the growth rate of deaths decreased to 5%. In 2010 employment population ratio is 64%. What is the real GDP per worker in 2010.
2015 2016 2017 Nominal GDP (in millions) Gross domestic product Q1 Q1 Q1 17,874.7 18,325.2 19,057.7 Personal consumption expenditures Gross private domestic investment Net exports of goods and services Exports Imports Government consumption expenditures and gross investment 12,142.2 12,571.5 13,191.6 3,094.6 3,031.6 3,128.7 -538.2 -526.2 -582.8 2289 2,166.5 2,295.6 2,827.3 2,692.8 2,878.4 3,176.2 3,248.3 3,320.2 12, Calculate the percentage change in nominal GDP between 2015 Q1 and 2016 Q1. a. 4.0% b. 3.84% 2.46% d. 2.52%
The table below includes data for a one-year period required to calculate GDP from the income side for a teeny-tiny economy. Gross investment expenditure Wages and salaries Consumption expenditure Interest and investment income Business profits Depreciation Indirect taxes less subsidies Net exports TABLE 20-4 $402.00 $1741.00 $1302.40 $99.40 $70.40 $199.20 $175.20 $94.00 Refer to Table 20-4. What is the value of GDP, as calculated from the income side? $2010.00 $1982.60 $1986.00 $2584.40 $2285.20
Based on the following data, GDP would equal ___ while Net National Product equals ___ in Billions Government Purchases $20 Exports $5 Imports $10 Depreciation $5 Investments $25 Consumption $70 Domestic US businesses production abroad $15 Foreign businesses production in US $6 Group of answer choices $110 billion; $114 billion $110 billion; $101 billion $130 billion; $121 billion $130 billion; $139 billion
Question # 5 a: Calculate Nominal and Real GDP for each year. Consider the base year is 2013. YearBottles of Diet Coke (units)Price by Bottle in Rs 2013100,00010.25 2014400,00030.50 2015500,00030.75 2016800,00040.25 b: Analyze how much Pakistan’s GDP and each of its components is affected by the following transactions? Explain your answers (Maximum 200 words). i) Toyota Motors issues new shares to finance the construction of an automobile plant in Pakistan.ii) Your friend wins Rs.2 million in the lottery in Dubai iii) Rabia spends Rs.1500 to buy her husband dinner at the finest restaurant in Karachiiv) General Motors builds Rs.40 million worth of cars, but consumers only buy Rs. 38 million worth of them.v) Sadia spends 50000 on a computer to use in her editing business in Karachi. She got last year’s model on sale for a great price from a local manufacturer. (Sub parts to solved).
Using the data below, calculate GDP by using expenditure approach: Year 2017 RM (million) 700 2500 790 670 1000 3200 2300 9000 450 900 2000 1000 500 9300 3100 5500 4500 Item Factor income paid abroad Import of goods and services Corporate taxes Retained earnings Depreciation Export of goods and services Subsidies Private Investment Personal Income tax Social security contribution Change in stock Transfer payment Indirect business tax Public Investment Consumption Government expenditure Factor income receive from abroad Calculate the Year 2018 RM (million) 450 3000 900 590 1200 4500 3790 8900 600 900 -350 1200 650 7800 8000 5600 3200 Gross domestic product at market price Gross National product at market price Gross National product at factor cost а. b. С. National Income Personal Income d. е. Disposable personal Income Gross domestic product at factor cost f. g.
Consider the following data on U.S. GDP: Year Nominal GDP GDP Deflator (Billions of dollars) (Base year 2009) 2016 18,707 105.93 1996 8,073 73.18 The growth rate of nominal GDP between 1996 and 2016 was , and the growth rate of the GDP deflator between 1996 and 2016 was . (Hint: The growth rate of a variable XX over an NN-year period is calculated as 100×((XfinalXinitial)(1N)−1)100×XfinalXinitial1N−1) Measured in 2009 prices, real GDP was billion in 1996 and billion in 2016. (Note: Select the answers closest to the values you compute.) The growth rate of real GDP between 1996 and 2016 was . The growth rate of nominal GDP between 1996 and 2016 was than the growth rate of real GDP.
Which of the following are included in GDP calculations? a. Cleaning services performed by Molly Maid Corporation b. Lawn-mowing services performed by a neighborhood child c. Drugs sold illegally on a local street comer d. Prescription drugs manufactured in the United States and sold at a local pharmacy e. A rug woven by hand in Turkey f. Air pollution that diminishes the quality of the air you breathe g. Toxic-waste cleanup performed by a local company h. Car parts manufactured in the United States for a car assembled in Mexico i. A purchase of 1,000 shares of IBM stock j. Monthly Social Security payments received by a retiree
List some of the reasons why economists should not consider GDP an effective measure of the standard of living in a county.
Explain/demonstrate period(s), since 2010, where the Jamaican economy experienced GDP Growth. Include at least one (1) economic development that would have contributed to each of the economic situations materializing. Gross Domestic Product at Constant Prices from 2010 to 2019 (Source: STATIN, adjusted for ECN201) Item 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The Expenditure Method Gross Domestic Expenditure 942,350 980,689 963,486 965,214 966,311 953,543 953,901 973,620 987,322 1,001,400 Private Final Consumption Expenditure 644,269 668,907 662,325 657,777 652,211 651,549 650,520 658,147 664,654 671,455 Government Final Consumption Expenditure 125,095 123,275 123,494 120,046 119,514 119,336 120,911 121,768 121,482 123,616 Gross Fixed Capital Formation 170,404 184,289 175,160 185,032 190,625 181,443 181,576 190,001…
GDP deflator = (Nominal GDP/Real GDP) x 100 Nominal GDP = Current Price x Current QuantityNominal GDP (2020) = 10 x 4,000 + 30 x 1,000 = 40,000+30,000 = 70,000Nominal GDP (2021) = 12 x 6,000 + 50 x 1,200 = 72,000 + 60,000 = 132,000 Real GDP = Base year price x Current QuantityReal GDP (2020) = 10 x 4,000 + 30 x 1,000 = 40,000 + 30,000 = 70,000Real GDP (2021) = 1..
national income accounts for the U.S. for 2005 billions of dollars billions of chained (2000) dollars consumption expenditures 8742.4 7841.2 gross private domestic investment 2057.4 1866.3 government expenditures 2372.8 1958.0 Net exports of goods and services -716.7 -619.2 compute the nominal and real GDP in 2005 Why do these two measures differ? Why do we compute both? Compute the GDP deflator 2005. Use this also to compute the inflation rate from 2000 to 2005. Was there inflation or deflation? Please answer all part I will rate

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