If two million new bables were born in the U.S. and if two million more immigrants came to the U.S., then the Real GDP Per Copita will go down if we assume no change in the actual GDP number. True or False True False
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A: GDP calculates the total value of all final goods and services produced in an economy.
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A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…
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A: here calculate the following points by using the given information which are as follow-
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- Give typing answer with explanation and conclusion Suppose the real GDP of an economy is $500 billion dollars and its unemployment rate is 6%. If the natural rate of unemployment is estimated at 4%, what is the value of the country’s potential GDP (LAS) in billions of dollars? Value of the country’s potential GDP (LAS) is $ billion.magine an economy where the overall price level has been rising over the last twenty years. (No exceptions!) Which of the following statements would be correct for this economy?The nominal GDP must be larger than the real GDP for any given year in that twenty year period. The nominal GDP must be lower than the real GDP for any given year in that twenty year period. The growth rate of the nominal GDP must be lower than the growth rate of the real GDP for any given year in that twenty year period. The growth rate of the nominal GDP must be higher than the growth rate of the real GDP for any given year in that twenty year period.In April approx. 22 million people filed for unemployment ins. In March, the labor force was 162,913,000 with employment=155,772,000 and unemployed=7,140,000. (please answer part D) A. What would April's unemployment rate be approximately? 4.38% B. If unemployment is around 4% and from Okuns law approximately for every 1% point change in unemployment, GDP falls 2%, how much has GDP dropped in % terms? 8% C. If real GDP in March was $19,221.970 billion ($19.22 trillion), what is the drop in dollar value of production? $1,537,677,600,000 D. If JDL Forcasting announced that they predict the mpc has fallen to 0.5, how much government spending will need to be injected to get back to Unemployement(natural rate of unemployement where actual and potential output are back to long-run levels)
- Suppose the real GDP of an economy is $520 billion dollars and its unemployment rate is 8%.If the natural rate of unemployment is estimated at 5%, what is the value of the country’s potential GDP (LAS) in billions of dollars?Answer the following macroeconomics questions.i. What is the difference between nominal GDP and real GDP? Which one of them is used to calculate the economic growth rate? Justify your answer.ii. Give the equation used to calculate the unemployment rate. State the different types of unemployment. In your opinion, which type is the most problematic one? Justify your answer.iii. Governments may achieve certain economic goals; say controlling inflation, by implementing fiscal and/or monetary policies. Briefly explain the difference between fiscal and monetary policies.The Figure above shows statistics on Real GDP in Qatar ($billions) from 2012 to 2020, in addition to expectations for the year 2021 and 2022. a. What are the main conclusions you can draw regarding the evolution of Real GDP in Qatar between 2012 and 2020. Whatare the main factors that could have caused these changes?
- Suppose that in the year of 2020, Country A’s natural rate of unemployment was 5% and its actual unemployment rate was 7%. Further, the Country’s GDP in 2020 was $20,932 billion. Compute the Country’s potential GDP in 2020, using Okun's law.4. A country in which a large majority of the population resides and works outside the country is most likely a country in which...? a. the relationship between GDP and GNP cannot be determined b. GDP is roughly equal to GNP. c. GDP is much larger than GNP. d. GNP is much larger than GDP. 5. As the workforce ages, a. structural and frictional unemployment increase. b. cyclical unemployment declines. c. cyclical unemployment increases. d. the natural rate of unemployment declines.So far, we have learned to measure real GDP, but how do we end up with that real GDP? Of all of the different amountsof national income and price levels that might exist, how do we gravitate toward the one that gets measured each year asreal GDP?In short, it is the interaction of the buyers and producers of all output that determines both the national income (real GDP)and the price level. In other words, the intersection of aggregate demand (AD) and short-run aggregate supply (SRAS)determines the short-run equilibrium output and price level.Once we have a short-run equilibrium output, we can then compare it to the full employment output to figure out where inthe business cycle we are. If current real GDP is less than full employment output, an economy is in a recession. If currentreal GDP is higher than full employment output, an economy is experiencing a boom. If the current output is equal to thefull-employment output, then we say that the economy is in long-run equilibrium. The…
- Without looking at Table 19.7, return to Figure 19.10. If we define a recession as a significant decline in national output, can you identify any post-1960 recessions in addition to the 20082009 recession? (This requires a judgment call.)Suppose the Federal Reserve begins to Increase the supply of money at an Increasing rate. What Impact would that have on GDP, unemployment, and inflation?What impact would a decrease in the size of the labor force have on GDP and the puce level according to the AD/AS model?