Using the economic data below, Which statement is true? Year GDP in Billions GDP Growth Rate Unemployment 1 5,839 -.2 2 5,987 2.5 5,870 -2 6,136 4.3 O Year 2 would be described as an Expansion & a Peak O Year 2 would be described as a Contraction only O Year 2 would be described as a Contraction & a Trough Year 2 would be described as an Expansion only 3. 4.

Q: Table 11.Growth (in Trillions) Real Year GDP 2015 16.30 2014 16.29 2013 15.92 2012 15.43 2011 15.19…

A: Given; GDP in 2009= 14.89 GDP in 2010= 15.00 Formula to calculate GDP growth:- GDP Growth=Change in…

Q: interested in macroeconomics? Select one: O a. Unemployment rate O b. Aggregate consumption c. Total…

A: Macroeconomics is concerned with economy wide variables like income, output, inflation, interest…

Q: On Jaruary 1. 2019, Real GDP was $S00 in a country. One year later on January 1, 2020, Real GDP was…

A: Real GDP growth rate =GDP of the year - GDP of last yearGDP of last year*100

Q: Total Population 2019 1174960 2020 1178460 2021 1182030 Your answer What is real GDP for year 2021?…

A: The real GDP is the GDP that is calculated at constant price. It is the real measure of calculating…

Q: Which of the following is true of economic expansions? O Governments can correctly predict the…

A: The answer is - since WWII, developed countries have been expanding in most of the years.

Q: Which of the following is likely to increase long-run economic growth? O A. Inflation. O B. An…

A: 1) Inflation is a persistent rise in the value of goods and services, which erodes purchasing power.…

Q: 1. Discuss how and why each of the following might affect Indonesian per capita GDP growth: b.…

A: Per capita GDP refers to the average amount of availability of output for the people of a country.…

Q: Q2. QUANTITATIVE Year 2019 Year 2020 Items Q2019 P2019 Q2020 P2020 100 120 Burgers Guitars 5 4 50…

A: We are going to find the growth rate of real GDP for year 2019 and 2020 to answer this question.

Q: Assuming that real GDP per person is a good measure of living standards, between 2016 and 2017,…

A: The worth of all goods and services produced by an economy in a given year is estimated using the…

Q: QUESTION 7 If the number of worker-hours in an economy is 100 and its labor productivity is $9 of…

A: The economies around the world tend to focus on their growth, and development, where various…

Q: What are the potential negative effects of growth in recent decades and in the foreseeable future?

A: Since multiple questions are asked, we will answer the first question for you. If you want any…

Q: The primary measure economists tend to use to measure changing living standards over time is O real…

A: Ans 11.The correct answer is real GDP per capita So we can say that where I think standard of living…

Q: year, real GDP in Ghana was $50 billion and the population was 38 million. The year before, real GDP…

A: The total gross domestic product (real GDP) is the adjusted inflation rate that reflects the value…

Q: The following data give the dates of successive turning points in economic activity and the…

A: Expansion period is the phase of the business cycle where real GDP grows for two or more consecutive…

Q: QUESTION 8 Assume that an economy experiences both positive population growth and technological…

A:

Q: Country z 1 YEAR INDICATOR NOW AGO GDP growth rate 3.7% 3.5% Unemployment rate 4.2% 4.5% Explain if…

A: GDP is gross domestic product (GDP) which measures the monetary value of all goods and services…

Q: In 2019 a country has 7.48% growth in real gdp, and uses two factors of production: capital (K) and…

A: Assume the share of capital in production is 40% and share of labor in production is 60% Production…

Q: President Kwame Nkrumah of Ghana had the Akesombo Dam built on the Volta River. It was expected that…

A: Countries can overcome this stagnation and continue to grow by inventing new technology, according…

Q: The table provides some data on real GDP and the population of Iberia in 2014 and 2015. Real GDP…

A: The real GDP is adjusted for the inflation. Real GDP per person is calculated by divided the Real…

Q: Figure 1 shows the China's Real GDP Growth Rate since 1981, the arrow indicator shows th trend of…

A: Real GDP growth is defined as economic growth measured by Gross Domestic Product (GDP) from one time…

Q: Jtilizing the aggregate production functions to the right, Robert Solow asserted that the most…

A: We are going to discuss the inevitable contribution of technological change into the economic…

Q: This question considers GDP in a country in a single year. Which of the following stasements are…

A: The total value of all commodities and services generated by the country in a year is referred to as…

Q: Suppose that the annual rates of growth of real GDP of Econoland over a five-year period are as…

A: here we calculate the average growth rate of the following , so here by using the information from…

Q: Among the determinants of a country's standard of living, over: O long periods, long-run growth is…

A: Business cycle refers to fluctuations in the market conditions in a cyclical manner due to the…

Q: ls draw the diagram of an Economic System and explain the process of circular flow?

A: Circular flow model explains how an economy functions. It analyses the way goods, services and money…

Q: If a country has a 5% annual growth in Real GDP and the population of that country also rises by 5%…

A: When a country has a 5% annual growth rate in the Real GDP and the population of that country also…

Q: The value of what Burger King produces in France is included in the United States and in the French.…

A: The value of Burger King produces in France would be included in the French GDP because it is…

Q: rate that is and an annual growth rate in real GDP that averages. Select one: O a. less than 10 % ;…

A: The unemployment rate would be close to the natural of unemployment when economy operates at the…

Q: If GDP is currently $13 trillion and is growing at a rate of 4.1% per year, how long will it take…

A: By the Rule of 70 or 72 we estimate how much time to take economy double is  time taken = 70/…

Q: 2. The table below shows the quantity of labor (measured in hours) and the productivity of labor…

A: Productivity of Labor = Real GDPQuantity of laborReal GDP = Productivity of Labor x Quantity of…

Q: The data in the table below show the total output (a mixture of consumer, capital, and government…

A: Item (2015) Qty (2015) 2015 Prices $ Nominal GDP $ Pizzas 32 8 256 Movie Tickets 22 6 132 Fare…

Q: a) Consider an economy in which the labour force grows by 2.7 percent per annum, while the capital…

A: Given: Growth of labor force=2.7% Growth of capital=4% Share of labor=55% Share of income=45% Note:…

Q: QUESTION 11 Nominal GDp Real GDP 2000 Time Refer to the accompanying graph. The year 2000 must be…

A:

Q: Country A is $25,000 and County B is $4,000 per capita GDP in 2010. the rate of economic in county A…

A: A way of measuring the economic welfare of a nation, the GDP is the summation of the market values…

Q: Table 1 shows the labor market schedule and Table 2 shows the production function schedule for the…

A: Potential GDP is nothing but the value of real GDP when all the factors of production are employed…

Q: xplain why U.S. potential GDP per worker per week is greater than that in Europe. Vhat could induce…

A: Reason for more potential GDP per worker:The potential GDP per worker in US is more than the Europe.…

Q: QUESTION 20 Suppose that a simple economy produces only the goods and services shown in the table.…

A: Note: Since you've asked multiple question, we will solve the first question for you. If you want…

Q: If the GDP per capita grows by 5%, it means that . Oa The rich people's incomes increased by 5% Ob.…

A: GDP per capita = Real GDP of the country / Population if GDP per capita grew, then it shows that the…

Q: (2) Being another key indicator, employment reflects the current status of an economy. Empirical…

A: Macroeconomics is used to understand how efficient allocation of resources can lead to bridge the…

Q: What is the economy's growth rate between Quarter 3 and Quarter 4?

A: Nominal Growth rate between quarter 3 and 4 =  = Nominal GDP in quarter 4 - nominal GDP in quarter 3…

Q: Real GDP in any year is equal to: O the quantity of labour divided by resource outputs. O…

A: Real GDP is the money value of all final goods and services produced in an economy adjusted for…

Q: Which growth theory sees the economy as a perpetual motion machine? sees the economy as a perpetual…

A: New Growth Theory argues that dimnishing returns can be restricted due to technological innovations.…

Q: An increase in the production of capital goods and a reduction in the production of consumer goods…

A: The economic growth is the increase in the value of all goods and services produced in a given year.…

Q: In a small country, using prices of 2010, GDP in 2010 was $100 and GDP in 2011 was SIIU. Using…

A: The real GDP is measured takes into account the value of goods & services produced in the given…

Q: How can the study of macroeconomics help a country's economic managers? O a. All of these are…

A: Macroeconomics is the study of a country's aggregates.

Q: If the GDP per capita grows by 5%, it means that O a. The rich people's incomes increased by 5% © b.…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Annual change 1991 1902 1993 1994 1995 1996 1997 1998 YEAR . On the first graph (showing real GDP),…

A: This economy experienced a contraction in the years 1996 and 1997. On the first graph (showing real…

Q: ar The twentieth century saw unprecedented growth in O the United States; Western Europe O Western…

A: In the 2nd half of the nineteenth century, the industrial upheaval was knowledgeable about numerous…

Q: 10.5 Linear trend (y) 10.0 Log of GDP per capita 9.5 y= 0.0214x + 8.7782 R = 0.9889 9.0 8.5 Year…

A: According to the question, the given graph represents the fitted linear regression line to the log…