Suppose the nominal GDP of country X in 2013 was equal to 10000. The deflator index in 2014 was 107% (relative to the previous year). The volume index in 2014 was 103% (compared to the previous year). What is the nominal GDP of country X in 2014

Q: The key difference between the GDP deflator and the CPI is that a. the GDP deflator reflects the…

A: The main difference between the CPI and GDP deflator is, GDP deflator reveals the price of all…

Q: A country produces only ice cream and cake in the quantities and prices listed below. Use 2011 as…

A: "GDP (gross domestic product) measures the value of all finished goods and services produced within…

Q: In Macronesia the GDP deflator for 2006 is 105 ( with 2005 being the base year). If the real GDP in…

A: GDP is the value of final goods and services produced in the economy within a given period of time.

Q: GDP can be computed as the sum of A) all sales that have taken place in an economy over a period of…

A: The value of GDP also shows the income level of the economy and the increase in GDP level over time…

Q: Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars…

A: GDP is the final value of total of the goods and services of an economy in a particular year.…

Q: Suppose an economy produces only cranberries and maple syrup. In 2010, 50 units of cranberries are…

A: Nominal GDP refers to the total value of final goods and service produced during a given period in…

Q: Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 5 bars…

A: Note: Since, you've posted question with multiple sub-parts, we will solve the first the first three…

Q: Consider the following table for the economy of a nation whose residents produce four final goods:…

A: Nominal gdp is the product of current output and current level of price . And it considers the…

Q: In an economy, Real GDP (base year = 1996) is $125 billion and the Nominal GDP is $150 billion.…

A: GDP deflator formed to estimate the inflation .In the other way it is known as  the implicit price…

Q: Nominal GDP is calculated using prices set in the base year average prices of all products current…

A: Introduction: Gross domestic product (GDP) may be a standard measure of the added generated by a…

Q: Real GDP for 2009 using 2009 as base year equals $ (Enter your response rounded to two decimal…

A: Real GDP: Real GDP is the value of all products and services produce in an economy at base price. It…

Q: Based on the following data, GDP would equal while Net National Product equals. in Billions…

A: The term "Gross Domestic Product" refers to the total monetary value of all final goods and services…

Q: In May​ 2013, the value of the Consumer Price Index​ (CPI) in a certain​ country, Polonia, reached…

A: Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: Using the information in the table, nominal GDP in this simple economy in year 2 equals Quantity…

A: Gross domestic product (GDP) is the sum total of all the market value of goods and services which…

Q: In an economy, Real GDP (base year = 1996) is $100 billion and the Nominal GDP is $150 billion.…

A: Gross Domestic Product GDP is the sum total of all goods and services that are produced by the…

Q: Q.1.5 The value of the nominal GDP in 2019 is: (1) R1 530. (2) R1 045. (3) R2 880. (4) R3 490.

A: GDP measures the total aggregate output that is produced in an economy at a given period of time.…

Q: Find Nominal GDP if GDP deflator is 136 and real GDP is $16,000

A: The data presented in the question above is:- GDP deflator = 136 Real GDP = $16,000 Nominal GDP is…

Q: In 2019, 200 KGs of oranges are produced at Rs.40/kg, 500 KGs of apples are produced at 120/kg, and…

A: Nominal GDP = sum of the values of all the final goods Assuming 2019 is the base year; the nominal…

Q: Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 10 bars…

A: In an economy, GDP deflator explains the Inflation rate in a specific year because it explains the…

Q: If the nominal gross domestic product (GDP) for a year is $5.4 trillion, and the real gross domestic…

A: The GDP deflator is a macroeconomic indicator or measure of inflation that measures inflation by…

Q: d) What is the percentage growth rate of real GDP from year 2 to year 3?  e) What is the inflation…

A: Gross domestic product (GDP) refers to the total value of all the final goods and services that…

Q: Suppose nominal GDP in 2019 was RM 300 billion and in 2020 it was RM 460 billion. The general price…

A: Real GDP is the value of the goods and services produced by an economy in a specific period of time…

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: nominal gdp in year 1 is 500. if gdp deflator doubles in year 8 while real output increases by 60…

A: The terms: Nominal GDP: The nominal GDP of a rustic is calculated using current prices and isn't…

Q: If consumption is $500, government expenditures is $200, GNP is $800, Gross Private Domestic…

A: The Gross National Product (GNP) is the sum of expenditure incurred by various sectors of the…

Q: GDP deflator (GDP deflator for year t = nominal GDP for year t divided by the real GDP for year t)…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: A country reported nominal GDP of $200 billion in 2006 and $180 billion in 2005; it reported a GDP…

A: the GDP deflator measures the changes in the GDP that results from changes in the price level.…

Q: what is the nominal GDP for year 2019?

A: Gross domestic price is also known as nominal GDP

Q: How useful is GDP as a measure for countries' well-being and why? What other measures could be…

A: Gross Domestic Product (GDP) is referred to the well-being of the economy. GDP identifies over the…

Q: In an economy, Real GDP for year 2002 (base year = 1996) is $200 billion and the GDP deflator 2002…

A: A price index number is a macroeconomic measure that compares a series of prices in different time…

Q: Determine the GDP trend in economic growth over the period of 1989 – 1999. Country/Area Year Unit…

A: GDP is the value of all goods and services produced during a period of time.

Q: Suppose in a given year, GDP was $8,542 billion and the GDP chain price index for that year is…

A: Given the GDP = $8542 Price index = 119.5

Q: Suppose the GDP for a country is $0. Does this mean that there was no productive activity in the…

A: Gross domestic product is the sum of the value of all goods and services produced in a nation.

Q: If the nominal GDP is stated as 190 and the Real GNP is 10 find the GNP deflator

A: Basically in easy language we can say that the GNP deflator is considered to be as that price index…

Q: In an economy, Nominal GDP for year 2005 (base year = 1996) is $60 billion and the GDP deflator 2005…

A: Real GDP shows the monetary value of all finished goods and services within an economy at constant…

Q: While Gross Domestic Product (GDP) is generally a good indicator of a country’s economic…

A: Gross domestic product refers to the criteria through which economic development of a country is…

Q: Solve the attachement.

A: The formula to calculate the GDP deflator is: GDP deflator=Nominal GDPReal GDP×100

Q: Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 5 bars…

A: "Inflation is the rise in the price level of the economy." Over time, the price of goods and…

Q: Assume a hypothetical economy that produces only one good – Peanut Butter. In year 1, the quantity…

A: Assume a hypothetical economy that produces only one good – Peanut Butter. In year 1, the quantity…

Q: suppose a small economy produces only smart TVs. in year one, 10,000 TVs are produced and sold at a…

A: Year 1 TV produced = 10,000 Sales Price = 1000 Year 2 TV Produced = 10,000 Sales Price = 1500

Q: Gross Domestic Product (GDP) is a flow concept, measures recorded economic activity, is a…

A: GDP is defined as the total production of all goods and services within territory of the country in…

Q: An economist, measuring GDP, first counted the value of aluminum created by an aluminum producer and…

A: GDP is the market value of final goods and services produced by an economy during a given period of…

Q: Refer to the table below for a very simple economy producing three goods: movies, burgers and bikes.…

A: GDP is the sum of total market value of goods and services which is produced domestically during in…

Q: 1. GDP rises from $4 trillion in 2010 to $7 trillion in 2013. The GDP deflator in 2013 is 120. Find…

A: Note: You have uploaded more than one question at a time. Therefore, we shall solve the first one…

Q: What is the US GDP for year end 2018?  What the personal consumption expenditures for year end 2019

A: The Gross Domestic Product (GDP) is the summation of money value of all the final goods and services…

Q: What calculation gives the best indication of economic well-being? nominal GDP divided by the number…

A: Standard of living means the average quantity or quality of goods and services that people in a…