Is the following data set a time series? If not, explain why. The quarterly Gross Domestic Product (GDP) of France from 1980 to the present. Choose the correct answer below. O A. No, because the data are for each GDP level, not over time. OB. Yes. OC. No, because the data values are the GDP amounts, and not points in time.

Is the following data set a time series? If not, explain why. The quarterly Gross Domestic Product (GDP) of France from 1980 to the present. Choose the correct answer below. O A. No, because the data are for each GDP level, not over time. OB. Yes. OC. No, because the data values are the GDP amounts, and not points in time.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 15RQ: What is the difference between a series of economic data over time measured in nominal terms versus...

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1. What is this time series g raphing? 2. What is the base year for this time series? 3. What do you notice about the shaded gray areas? a. real GDP per capita decreases b. real GDP per capita increases c. real GDP per capita shows no trends during recessions. 4. What is the overall trend of this series? a. real GDP per capita is increasing over time. b. real GDP per capita is hovering around the same levels c. real GDP per capita was falling, but has increased a little in the past two decades. 5. What is real GDP per capita right before the Great Recession? $ a. $51,637 b. $40,000 c. $15,000 d. $100,000 6. When did real GDP per capita reach this level again? a. 2013 b. 2020 c. 2009 d. 2023 7. What is the real GDP per capita in 2000? a. Approximately $46,000 b. Approximately $20,000 c. Approximately $100,000
Q 11. Which of the following is an example of time series data? a. Data on the number of vacancies in various departments of an organization in a particular month b. Data on the consumption of wheat by 200 households during a year c. Data on the unemployment rates in different parts of a country during a year d. Data on the gross domestic product of a country over a period of 10 years
An American retailer purchased 100 pairs of shoes from a company in Mexico in the second quarter of 2016 but does not sell them to a consumer until the third quarter of 2016. In which quarter(s) does(do) the value of the shoes add to U.S. GDP? O the third but not the second quarter O the second quarter but not the third quarter O the second and third quarters O neither the second nor the third quarter Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
What is the difference between a series of economic data over time measured in nominal terms versus the same data series over time measured in real terms?
The graph shows the annual growth rate of the GDP of the United States economy since the first quarter of 1990. 1. Based on the phases of the business cycle, how can you represent the concept on this graph? Explain.2. Without necessarily having the numerical data, what level (high or low) of unemployment could have been registered in some of the periods presented in the graph? Explain your answer indicating why.3. Without necessarily having the numerical data, what level (high or low) of inflation could have been registered in some of the periods presented in the graph? Explain your answer indicating why.4. How do you correlate your answers in the previous questions with the phases of economic cycles and their effects in the short and long term? Explain your answer.
Consider an economy that produces only three types of fruit: Apples, oranges and bananas. In thebase year (a few years ago), the production and price data were as follows:Fruit Quantity PriceApples 3000 bags $2 per bagBananas 6000 bunches $3 per bunchOranges 8000 bags $4 per bagIn the current year, the production and price data are as follows:Fruit Quantity PriceApples 4000 bags $3 per bagBananas 14 000 bunches $2 per bunchOranges 32 000 bags $5 per bagFind nominal GDP in the current year and in the base year. What is the percentage increase sincethe base year?
Assume that the average or mean monthly household consumption expenditure for Malaysia rose from RM3,578 in 2018 to RM4,033 in 2020, growing 6% per annum at nominal value, according to the statistics department. However, in terms of real value — which refers to the constant price using the Consumer Price Index with the base year 2014 as the deflator — annual growth rate is 3.9% for the same period, mentioned on its Household Expenditure Survey Report 2020. a) Suppose that consumer spending initially rises by RM5 billion for every 1 percent rise in household wealth and that investment spending initially rises by RM20 billion for every 1 percentage point fall in the real interest rate. Also, assume that the economy’s multiplier is 4. i. If household wealth falls by 5 percent because of declining house values, and the real interest rate falls by two percentage points, in what direction and by how much will the aggregate demand curve initially shift at each price level? ii. In what…
Suppose that Glitter Gulch, a gold mining firm, increased its sales revenues on newly mined gold from $120 million to $240 million between one year and the next. a. Assuming that the price of gold increased by 100 percent over the same period, by what percentage did Glitter Gulch’s real output change? _______ percent b. If the price of gold had not changed, what would have been the change in value of Glitter Gulch’s real output? $________ million
Suppose that this year’s nominal GDP is $16 trillion. To account for the effects of inflation, we construct a price-level index in which an index value of 100 represents the price level 5 years ago. Using that index, we find that this year’s real GDP is $15 trillion. Given those numbers, we can conclude that the current value of the index is: a. Higher than 100. b. Lower than 100. c. Still 100.
Isn't the market basket suppose to be base year units x current price? I can see we ended up with the same answer for 2011 but its beacuase its the base year. But the other years I'm confused. For example, for the year 2013, wouldn't it be 90 textbooks x $65 = $5850 75 hamburgers x $2.25 = $168.75 50 shirts x $25 = $1250 100 cotton x $0.70 = $70 with a market basket value for 2012 being 7338.75? I've uploaded a screenshot of our notes unless the tutor is wrong cause we all make mistakes. We are humans after all.
The graph shows the annual GDP growth rate of the United States economy since the first quarter of 1990. According to what was discussed in the course on the phases of the business cycle, how can you represent the concept in this graph? Explain. Without necessarily having numerical data, what level (high or low) of unemployment could have been recorded in some of the periods presented in the graph? Explain your answer indicating why. Without necessarily having numerical data, what level (high or low) of inflation could have been recorded in some of the periods presented in the graph? Explain your answer indicating why. How do you correlate your answers in the previous questions with the phases of economic cycles and their short- and long-term effects? Explain your answer.
If the GDP per capita grows by 5%, it means that O a. The rich people's incomes increased by 5% © b. On the average, the people's income grew by 5% © c Everyone's income grew by 5% d. Employment rates increased by 5%