If the nominal GDP is $118 and the current price index is $115 find the real GDP

Q: If the nominal GDP is 150 and the real GDP is 100 find the price index?

A: Nominal GDP = 150 Real GDP = 100

Q: Distinguish between the Consumer Price Index (CPI) and the Producer Price (6) Index (PPI)

A: Consumer price index and producer price index are economic indicators of inflation.

Q: Find the value of national income if the domestic income is $130 and the net factor income from…

A: Initially in the question Domestic income is = $130 Net factor income from abroad is = $53 National…

Q: When a nominal value increases it must be true that prices have increased. Select one: True False

A: Nominal value: face value of an asset or security.

Q: In November 2010 the labor force in Siouxtown, was 14,800.There were 14,483 persons employed. The…

A: Given: Labor force = 14800 Employed person = 14483

Q: In 2018 in an imaginary country real GDP and nominal GDP are equal to each other. And in 2019…

A: here we calculate the GDP deflator and Inflation rate by using the given information which are as…

Q: and the consumer price index (CPI) is currently 125. This indicates the price of the market basket…

A: A market basket refers to a selection of goods and services that are consistently purchased and sold…

Q: 47. Your employer uses an escalator clause to determine your raise each year. In an inflationary…

A: The macroeconomic variables and aspects have their major analysis and considerations regarding the…

Q: Calculate the rate of inflation if the CPI for 2016 is 147 and the CPI for 2017 is 154

A: The information being given to us is as follows:- CPI for 2016 = 147 CPI for 2017 = 154  We have to…

Q: What would be the Nominal GDP if the price index is 100 and the amount of Real GDP is 250 ?

A: As per the given question Price index is values as = 100 Real GDP = 250 Nominal GDP needed = ?

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: norminal GDP                      real GDP 2000      13000                                   12900…

A: Formula:  GDP Deflator = (Nominal GDP / Real GDP) *100. Inflation rate = {(Present year GDP…

Q: Find the price index if the nominal GDP is 4400 the real gdp is 2200 ?

A: Generally in the given question, Nominal GDP value is = 4400 The real GDP is = 2200 Price index = ?

Q: A certain country calculates inflation using a consumer price index (CPI). Between 2016 and 2017 the…

A: Answer to the question is as follows :

Q: An increase in the price of Dell computers manufactured in Austin Texas and purchased by Americans…

A: Inflation refers to the increase in the average price level of goods and services. It is measured…

Q: In 2002, the price index was 162. In 2003, the price index was 182. The inflation rate between 2002…

A: In an economy, inflation takes place when the prices of goods and services increases. Inflation can…

Q: If the consumer price index falls from 120 to 116 in a particular year, the economy has experienced

A: Answer   Given that:     If the consumer price index falls from 120 to 116 in a particular year, the…

Q: Is this statement true or false? Used goods are computed as part of CPI but not GDP. True False

A: Actually Used goods are said to be those goods or the property which is gradually offered for sale…

Q: The consumer price index (CPI) has increased from 80 to 88. Calculate the inflation rate

A: The Inflation rate is that the life of the rise or rate of increase within the general worth of…

Q: A small nation of ten people idolizes the TV show American Idol. All they produce and consume are…

A: CPI(consumer price index) and GDP deflator are the methods of measuring inflation in the particular…

Q: If the nominal GDP is $118 current price index is $112 find the real GDP

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: If nominal GDP is $6 trillion and the price index is 150%, then real GDP is: a. $9 trillion b. $1…

A: Here, given information is: Nominal GDP: $6 trillion Price index (GDP deflator): 150% To find:…

Q: Using 2016 as the base year, calculate the Laspeyre’s Price Index for 2021. A    135.60 B    66.73…

A: Ice cream flavor Price in 2016 (Po) Price in 2021 (P1) Quantity in 2016 (Qo) P1Qo PoQo Vanilla 130…

Q: The GDP price index in the United States in 2016 was about 106, and real GDP in 2016 was $17.7…

A: Given data: In 2016, GDP price index was 106 Real GDP = $17.7 trillion

Q: The GDP deflator in year 2 is 110 and the GDP deflator in year 3 is 118. Calculate the rate of…

A: GDP deflator is a measure of inflation. It measures the changes in price of all goods and services…

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

A:

Q: The following table shows the price of a specific stereo receiver for a five-year period.  Using…

A: Price index: - it is the measure of change in the price level, it measures the change in the price…

Q: If the nominal income is 180 and the price index is 120 calculate the real income!!

A: Here given information is, Nominal income: 180 Price index: 120 To find: real income

Q: Why is Consumer Price Index (CPI) important to a business?

A: Consumer price index (CPI) is one of the economic tools to measure the changes in economic…

Q: compare and contrast the calculations for the consumer price index and the GDP price index as…

A: Formula for GDP price indexGDP Deflator=Nominal GDPReal GDP ×100 where Nominal GDP is the market…

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

A: Real GDP in 2018= Nominal GDP in 2018/ Price index Nominal GDP would be based on current prices…

Q: The average price of milk per gallon was $2.62 in 1995 and ​$3.27 in 2010. The consumer price index…

A: Consumer price index (CPI) refers to the measurement of weighted average price of the consumption of…

Q: If nominal GDP is $690m and the price index is 110, then real GDP is $627.28m. $759m. $690m

A: Nominal Gross domestic product is usually known to be as the measurement of the certain or given…

Q: The world price of oil has risen recently. For Australia (which is a net exporter of oil), this…

A: CPI would increase,because consumers in Australia would buy more oil.

Q: Consumer Price Index (CPI) or Retail Price Index (RPI) which is a better measure of Inflation for…

A: Supermarkets are the place where households can get almost all the housing products that are used on…

Q: Define consumer price index And tell why it is important to the economy.

A: CONSUMER PRICE INDEX (CPI) It is a measure for estimating changes in the price paid by the consumer…

Q: How is the producer price index related to the consumer price index?

A: Consumer price index: Consumer price index (CPI) refers to the measurement of weighted average price…

Q: The nominal GDP for an economy is $10 trillion. Real GDP is $7 trillion. What is the value of the…

A: Nominal GDP = $10 trillion  Real GDP = $7 trillion

Q: , and its inflation premium is at 2.60%. What is its CPI for the last period (CPI,t

A: CPI is measured using fixed basket of goods.

Q: According to the Bureau of Economic Analysis, the GDP Deflator for the 3rd Quarter 2021 is +5.7%.…

A: GDP deflator takes into account the impact of inflation on the GDP of the economy during a given…

Q: A Consumer Expenditure Survey in Sparta shows that people buy only juice and cloth. In 2015, the…

A:

Q: the real income is 300 the price index is 110 calculate the nominal income

A: Basically in the given question, Real income is = 300 The value of the price index = 110 NOMINAL…

Q: The CPI differs from the GDP deflator in that the CPI O always indicates a higher rate of inflation…

A: The inflation refers to an increase in the general price level over time. There are several…

Q: Refer to Table 22.5. If 2014 is the base year, the consumer price index in 2013 is 0.893. 0.96.…

A: Options A is The correct Answer

Q: Consumers of the economy purchase all primary products, manufacturing products and services shown in…

A: Meaning of Inflation: The term inflation refers to the situation under which there being an…

Q: Following is data for a hypothetical economy. The base year is 2002 (Price index = 100). Nominal GDP…

A: Here we calculate the rose in prices from 2005 to 2006 or inflation rate , so the calculation of the…

Q: If the Nominal GDP is 120 and the real GDP is 100 find the level of price index

A: Generally in the given question Nominal GDP is given as = 120 Real GDP is given as = 100 We need to…