Gross Domestic Product  If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price index) was 100 what is the value of real GDP in 2005?

Q: in the year 2019, an economy produces 100 loaves of bread that sell for Rs8 each, in the year 2019,…

A: Gross domestic product (GDP) refers to the total value of all the final goods and services that…

Q: In Australia, the value added for 2020 year was $89,000 million Also the value of intermediate…

A: The information being given is:- Value added for 2020 = $89,000 Intermediate Consumption = $21,000…

Q: 45. The Sum of GDP and the balance of primary (net) income from abroad is... 1. Disposable income 2.…

A: GDP is one of the measures of national income. "Gross domestic product (GDP) is the total value of…

Q: Real GDP Nominal GDP GDP Deflator 246,849 103.2 268,914 100.7 257,861 264,308 266,194 105.9 241,646…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: In the United States in 2002, the GDP price index was 89..5 and nomial GDP was 10978 billion  What…

A: GDP  price index for 2002 = 89.5Nominal GDP in 2002 = 10978 millionReal GDP in 2002 = Nominal GDP in…

Q: Price of Quantity of cheese $5 Quantity of Wine Price of Year Cheese Wine 2018 2 Blocks $10 4…

A: Year Price of cheese Quantity of cheese Price of wine  Quantity of wine  2018 $5 2 $10 4 2019…

Q: Product Quantity Price Quantity Price Eye examinations 100 $40 150 $60 Shoes $150 $200 25 40…

A: Nominal GDP measures market value of goods and services using current prices whereas real GDP is…

Q: In an economy, Real GDP (base year = 1996) is $125 billion and the Nominal GDP is $150 billion.…

A: GDP deflator formed to estimate the inflation .In the other way it is known as  the implicit price…

Q: Nominal GDP 2018 is $24,200. What is the "real" 2018 GDP measure in 2012 prices if the 2018 price…

A: Given data: Nominal GDP of 2018 is $24200. Price index in 2018 is 1.05

Q: The value of the nominal GNP of economy was $ 6000 in a particular year. The value of the GNP of…

A: The GNP order the gross national product is the value of final goods and services that are produced…

Q: C                      I                         G                               NX…

A: Nominal GDP is the increment in the income or output level from year to year on the basis of market…

Q: The GDP deflator of the country is 1.5 and it's nominal GDP is 800 million. Calculate the real gdp.

A: Given GDP deflator = 1.5 Nominal GDP = 800 million Real GDP = ?

Q: The nominal GDP for 2016 was $17,500 and the real GDP was $13,000   Calculate GDP deflator

A: The data presented in the question is:- For 2016,  Nominal GDP = $17,500 Real GDP = $13,000 We have…

Q: Question: Answer to Year Nominal GDP Real GDP Price Index 15,200 . Year Nominal GDP Real GDP Price…

A: The following formula is used to compute price index: Price index =Nominal GDPReal GDP

Q: In 2003, the economy of Boonton’s nominal GDP was $1300 and its GDP deflator was 200. Calculate…

A: Nominal GDP includes both the growth and prices. Real GDP shows only the growth in the economy. Real…

Q: 23. Which of the following would be considered a final good or service in the calculation of GDP?…

A: GDP stands for Gross Domestic Product. It is the market value of all final goods and services…

Q: The measure to measure the value of the total final production in a country during a year is the…

A: GDP is the value of final products and services produced in an economy in a specific period of time.…

Q: Show how gross national product (GNI) can be derived from gross domestic product (GDP).

A: Note: The second question mentioned in the picture is derivation of GNP from GDP.  2. Gross Domestic…

Q: If South Africa’s GDP is greater than its GNI, then the income earned by foreign owners of companies…

A: Option (A).

Q: Given are the following sets of accounts:     RM (Million) Compensation to employees…

A: Given,   Compensation to employees = 5969.5  Proprietor’s income = 756.5  Corporate profits = 787.4…

Q: During 2009, the leather company produced enough leather for 20 couches.  The couch manufacturing…

A: GDP: The GDP is the value of all finished goods and services or products produced in the economy…

Q: Calculate the value of the GDP deflator in 2004. a. 113 b. 116 c. 119 d. 120 *base year is 2003

A: The formula for GDP deflator  GDP deflator =Nominal GDPReal GDP×100 Base year is 2003 We have to…

Q: If the nominal GDP is 900 and The Price index is 180 calculate the real GDP

A:

Q: You just bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor…

A: Secondhand goods, such as used cars, are excluded from GDP calculations.  When these things were…

Q: what is the nominal GDP for year 2019?

A: Gross domestic price is also known as nominal GDP

Q: Say the GDP of a country is $100. To this foreign nationals' contribution is $5. Government gives $2…

A: Personal Income = National Income – Indirect business taxes – Corporate income taxes – Undistributed…

Q: Nominal GDP of a country  is $400 million and Real GDP $200. Calculate the GDP deflator.

A: Below are the given values: Given the Nominal GDP = $400 Real GDP = $200

Q: Year 2005 Nominal GDP 500 Price Deflator 95.4 2006 600 100.0 2007 700 102.5 2008 800 103.1 Refer to…

A: Real GDP in 2005 = Nominal GDP / GDP deflator * 100 = 500 / 95.4 * 100 = 524.10

Q: If nominal GDP is $400, real GDP is $200, then calculate price level

A: Price level - Average price of all the goods in an economy.

Q: Based on the data below, what was the Real GDP in 2C Nominal Price Year Real GDP GDP Deflator 2015…

A: GDP deflator is used to measure the change in general price level. It measures the price changes of…

Q: Calculate NNP at FC and personal income in the question below. GDP at FC 400 Income from domestic…

A: Use Below formula:NNP at FC = GDPFC-Depreciation +NFIANFIA = Net factor income from abroad

Q: If the nominal GDP is $1300 and The Price index is $290 calculate real GDP

A:

Q: Gross Domestic Product  If nominal GDP in 1975 was $1699.9 billion and the GDP deflator (price…

A: The real GDP is the market value of all final goods and services produced in an economy during an…

Q: Year Nominal GDP Real GDP Price Index 1 5,200 4,800 5,500 112 3 5,740 5,000 Refer to the table. (GDP…

A: The formula is:Real GDP = nominal GDPPrice index×100  =5500112*100=4910.71429=4910.71

Q: In the United States in 2001, nomial GDP was 10622 billion and real GDP was 12070 billion. What is…

A: Gross Domestic Product (GDP) is the market value of all final goods and services produced/ sold in a…

Q: The level of nominal GDP in 2000 was 10.098 billion. The level of nominal GDP in 2021 is projected…

A: Nominal GDP refers to an estimation of economic production in an economy but includes the current…

Q: If nominal GDP is $15000 million and real GDP is 12,000 million Find GDP deflator

A: The information being given to us is as follows:- Nominal GDP = $15,000 million Real GDP = $12,000…

Q: The value of national income is $3100 million and the value of net factor income from abroad is $600…

A: According to the above given question, the information is:- National Income = $3100 million Net…

Q: If GDP deflator is 177 and real GDP is $16000 million Calculate the value of Nominal GDP

A: The information being given is:- GDP deflator = 177 Real GDP = $16,000 million We have to calculate…

Q: GDP is defined as the market value of all final goods and services produced within a country in a…

A: There are three methods to determine the gross domestic product (GDP) of a country: the income…

Q: What variables determine gross domestic product? What are the two approaches used to measure gross…

A: 1. Gross domestic product is defined as the market value of final products and services that are…

Q: In Anasville nominal GDP in 2030 is $30,000 and the price index (base of 100 in 2020) stands at 150.…

A: Nominal GDP in 2030 is $30,000  the price index (base of 100 in 2020) stands at 150

Q: If the price prevailing during the base year is 1000 and the quantity of final goods and services is…

A: As per the given question, Price during the base year are = 1000 Quantity of the goods = 500 We need…

Q: COMPUTE THE NOMINAL GDP

A: A country's nominal GDP is determined using current prices and is not adjusted for inflation.…

Q: what is the difference between nominal GDP and real GDP? what is the methodological procedure to…

A: National Income is the amount received from the goods and services produced annually in the economy.…