Please enter only numbers (no commas, dollar signs etc) in the spaces provided. Calculate the real GDP for 2011.____ Calculate the real GDP for 2012.____ Calculate the real GDP for 2013.____ Calculate the growth rate in real GDP for 2012. (Using 1 decimal place). ____% Calculate the growth rate in real GDP for 2013. (Using 1 decimal place). ____%
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Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton.
| 2011 | 2012 | 2013 | ||||
| Product | Quantity | Quantity | Price | Quantity | Price | |
| Textbooks | 90 | $50 | 100 | $60 | 100 | $65 |
| Hamburgers | 75 | 2 | 100 | 2 | 120 | 2.25 |
| Shirts | 50 | 30 | 50 | 25 | 65 | 25 |
| Cotton | 100 | 0.80 | 800 | 0.60 | 120 | 0.70 |
Please enter only numbers (no commas, dollar signs etc) in the spaces provided.
Calculate the real
Calculate the real GDP for 2012.____
Calculate the real GDP for 2013.____
Calculate the growth rate in real GDP for 2012. (Using 1 decimal place). ____%
Calculate the growth rate in real GDP for 2013. (Using 1 decimal place). ____%
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- Q1. Draw a circular flow diagrm. Identify the parts of model that corresponds to flow of goods and services and the flow of dollar for each of the following activites. Ahmed earns Rs 200 per houir working in a factory Ayesha spend Rs1500 for a pizza “Eat More” bakery pay Rs 2500 for the rent on its shop Maya purchases a new pair of earrings for Rs 2501. Inventory is: Group of answer choices a. the total amount of goods that a company produces now, regardless of whether they've sold it or not. b. the stock of goods that a company produced last year, but had to sell for below cost. c. the stock of goods that a company produces now, but keeps to sell at a future time. d. the stock of goods that a company produces and sells in a given time perio 2. The four categories of expenditure (spending) in the economy are wages, rent, interest, and profit. Group of answer choices True False(1) Recent measurements have shown a significant deterioration in the quality of the Scottish seaside. Which of the following statements are compatible with this observation? A. The real value of GDP has increasedB. The real value of GDP remains the same C. North Sea oil wells have dried upD. The price of swimming costumes has gone down (2) The impact of Covid-19 on happiness is negative because A. it decreased economic activityB. it coincided with BrexitC. it forced social isolationD. it obliged people to develop new Information Technology skills(i) A is correct(ii) A and B are correct(iii) A and C are correct(iv) All of the above are correct
- Graph and label as either direct or indirect the relationships you would expect to find between (a) the number of inches of rainfal per month and the sale of umbrellas, (b) the amount of tuition and the level of enrollment at a university, and (c) the popularity of an entertainer and the price of her concert tickets.Budget Analysis (9’) The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Assuming City A’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City A’s population in 2030. Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. Calculate the compound annual growth rate of per capita spending from 2010 to 2020Construct the cost-of-living index number for 2020 on the basis of 2018 from the given data. Advice a donor agency on what course action to take if the information is meant to help them make a decision on some food stipend being for a social protection program in Kenya. Commodities PRICE Weights 2018 2020 A 200 400 50 B 200 350 40 C 100 150 65 D 80 120 45 E 60 180 20 F 90 157.5 60 G 300 585 100 b. The average prices and quantities of six items grown in Nakuru County are shown in the following table: 2020 2021 Items Price (Kshs/Kg) Quantity (Kg,000) Price (Kshs/Kg) Quantity (Kg,000) Pineapples(A) 10 6 14 8 Oranges(B) 10 8 15 14 Bananas(C) 15 8 20 16 Beans(D) 30 12 25 20 Wheat(E) 40 15 60 21 Millet(F) 50 10 80 16 Using 2020 as base year, compute Kelly’s and Fishers Price index numbers…
- Suppose the Following information was published by Australia Bureau of Statistics in 2017: Item Amount (AUD billion) Household consumption (C) 1029.81 Government consumption 340.92 Exports 386.39 Value of cocaine seized at Sydney Airport 10,500 Value of intermediate goods in tractor Manufacturing 52,003 Gross private domestic investment (I) 352.69 Imports 386.95 Components used in the manufactrure of cars 40,000 Gifts 15,236 Government investment 88.19 Value of second-hand goods 500.00 Use the information to answer the following questions Identify the items that are not included in the GDP calculation. Calculate Australia’s GDP in 2017.An imaginary economy produces five (5) types of goods as follows: Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 A 200 220 240 280 300 320 350 400 500 B 180 200 250 300 350 380 400 450 500 C 100 130 180 220 280 300 400 450 500 D 120 150 200 250 300 350 400 500 600 E 50 70 80 90 100 120 130 150 200 Price A 100 120 140 140 150 180 200 300 350 Price B 200 250 300 350 380 450 500 400 500 Price of C 50 60 80 90 110 150 200 300 400 Price of D 20 25 30 40 60 80 100 200 300 Price of E 40 60 80 100 120 140 160 200 350 Calculate nominal GDP. Calculate real GDP using 2017 as the base year. Compute the average growth rate in real GDP from 2013 to 2020 and comment on your result. Compute inflation for 2020 using the GDP deflator with year 2016 as the…Question 1 (AV7.1) You have been employed as the chief economist for the economy SKL Land. The head statistician has provided you with the following information: Compensation of Employees 900 Consumption of goods 850 Corporate profits 400 Rent Income 125 Factor income paid to the world 325 Consumption of services 475 Factor Income received from the world 170 Residential investments 350 Indirect taxes 775 Non-residential investments 525 Subsidies 125 Government Expenditure 925 Depreciation 120 Imports 700 Net interest 75 Exports 300 Proprietors income 300 Calculate SKL Land’s GDP using (1) the Income and (2) the Expenditure Approach
- The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: 2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively. *Results round to the nearest 2 decimal places. 2010 spending-to-GDP ratio: 2020 spending-to-GDP ratio: Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend. 4. Assuming City A’s population grows at a constant rate in the next decade.…8. Based on the following wealth utilization, what is the best rank of prioritization in consumption recognized in Islam: i Your close friend who is poor and in need ii Your sister who needs to do medical surgery iii Donation to a charity foundation iv Contributed to the construction of Maahad Tahfiz i, ii, iv, iii ii, i, iii, iv i, ii, iii, iv ii, i, iv, iii4. Compute the percentage increase in real GDP from 2004 to 2005.a. 0 percentb. 7 percentc. 22 percentd. 27 percent *base year is 2003
