In early​ 2017, policymakers at the Federal Reserve forecast that real GDP during 2017 would increase faster than potential GDP and that the inflation rate for the year would be about 1.9 percent.   ​Source: Federal Open Market​ Committee, "Advance Release of Table 1 of the Summary of Economic Projections to be Released with the FOMC​ Minutes," March​15, 2017.   Fill in the missing values in the table with estimates that are consistent with these forecasts. Assume that the growth rate for real GDP between 2016 and 2017 is 0.32 percentage points higher than the percentage change in potential output between those years​ (rounded to two decimal​ places).     2016 2017 Real GDP ​$16.7 trillion ​$nothing trillion Potential GDP ​$16.9 trillion ​$17.1 trillion GDP Deflator 111.5 nothing   ​(Enter your responses rounded to one decimal​ place.)

Please give a detailed solution with an explanation and answer all the questions provided in the images below.Please double-check your sources and answer before submitting the final answer.For the 3 blank answers here are the options:Blank Answer #1:decreased or increasedBlank Answer #2:decreased or increasedBlank Answer #3:-30% or 0.3% or 30% or 76.9% or 130%

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6. TheGDP gap and the consequences of unemployment On the following graph, the black line shows potential real GDP and the blue line shows actual real GDP for a hypothetical country from 1990 to 2010. Use the green quadrilateral (triangle symbols) to shade the area between actual and potential real GDP that represents the positive GDP gap. Then use the purple quadrilateral (diamond symbols) to shade the area between actual and potential real GDP that represents the negative GDP gap. 10 Actual Real GDP Z Potential Real GDP GDP (Billions of 2000 dollars) 9 8 LO A 2 1 0 1990 1994 1998 YEAR 2002 2006 2010 Positive GDP Gap Negative GDP Gap (?)

Consider the following table from Source: 5220.0 Australian National Accounts: State Accounts, Table 7 - Tasmania, that gives nominal GSP (current prices) and real GSP (chain volume) for Tasmania. Tas GSP Tas GSP (Current (Chain Volume) 28931 Prices) Jun-2017 30019 Jun-2018 30263 30975 Jun-2019 31993 31993 Jun-2020 32904 32102 a. Calculate the implicit GSP price deflator. Feel free to use MS Excel. 6. Calculate the growth rate in Nominal GSP, Real GSP and the price deflator. c. What do you notice about the sum of the Real GSP and price deflator growth rates?

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Given the information in the table below, what is country B's real aggregate product in A$ at constant purchasing power of year 2 for years 1, 2, and 3 respectively? Remember: step 1, make sure that the general price index has the correct base year; step 2, transform the nominal aggregate product in B$ into the real aggregate product in B$ using the correct general price index; and step 3, transform the real aggregate product in B$ into the real aggregate product in A$ using the correct exchange rate (and pay attention that exchanges rates are B$/A$, so you may need to use division or multiplication). Year 1 Country A's nominal aggregate product in the local currency A$. Country A's general price index. Country B's nominal aggregate product in the local currency B$. Country B's general price index. Market exchange rate (B$/A$). PPP exchange rate (B$/A$). A$1000 Chook 1.000 B$2160 0.500 1.00 1.50 O a. A$1800, A$1440 and A$1215. O b. A$2250, A$2160 and A$2025. O c. A$4860, A$4666 and…

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