What is the GDP of this economy? Cost of materials Value of sales Value added 250 Farmer Ice-cream maker 250 375 Distributor 625 1000 Vendor 1000 1250 250

Q: Real GDP Nominal GDP GDP Deflator 246,849 103.2 268,914 100.7 257,861 264,308 266,194 105.9 241,646…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: GDP and GDP per-capita. a. Explain the difference between GDP and Per Capita GDP;  b. Explain how to…

A: a)Gross domestic product (GDP) is the total value of the final goods and services in the economy in…

Q: 1 Calculate the Nominal GDP for 2016. Show your calculation. 2 Calculate the Nominal GDP for 2017.…

A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Q: Product Quantity Price Quantity Price Eye examinations 100 $40 150 $60 Shoes $150 $200 25 40…

A: Nominal GDP measures market value of goods and services using current prices whereas real GDP is…

Q: A farmer sells wheat to a baker for $2. The baker uses the wheat to make bread, which is sold for…

A: Intermediate goods are the goods used to create another product. Intermediate goods are inputs in…

Q: 4. From the following data, calculate national income by valued added (net output) method (Rs. In…

A: Product or value added method is a way of computing the national income of a country. This system is…

Q: 3. What is 2011's nominal GDP? 2012 Quantity Price Total Value 4. Cars 70 $23,000 5. Computers 250…

A: The nominal GDP of an economy can be calculated as the aggregate of the value of all final goods and…

Q: 1. Farmer Brown produces $100 worth of milk. He sells $40 worth of the milk in the market and uses…

A: GDP is also known as gross domestic product. It is the sum total of all the final goods and…

Q: The GDP deflator of the country is 1.5 and it's nominal GDP is 800 million. Calculate the real gdp.

A: Given GDP deflator = 1.5 Nominal GDP = 800 million Real GDP = ?

Q: A local shoe making firm purchase leather for $500, thread for $100 and other materials for $200. Tł…

A: Gross Domestic Product is the monetary value of all finished good and services produced during a…

Q: Name: Value-Added Approach to GDP Production Activity Value of Input Value of Output Value-Added…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: Arthur sells $100 worth of cotton to Bob. Bob turns the cotton Into cloth, which he sells to Camille…

A: In an economy, value added method is one of the way to compute the overal income or contribution of…

Q: Gross Domestic Product  If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price…

A: Nominal GDP in 2005 = $13095.4 billion GDP deflator = 100  Nominal GDP includes both the growth and…

Q: Year Nominal GDP Real GDP GDP deflator 2012 $180,000 %24 100.0 2013 24 $215,000 110.0 2014 $260,000…

A: The GDP deflator, also called implicit price deflator, is a measure of inflation. It is the ratio of…

Q: The nominal GDP for 2016 was $17,500 and the real GDP was $13,000   Calculate GDP deflator

A: The data presented in the question is:- For 2016,  Nominal GDP = $17,500 Real GDP = $13,000 We have…

Q: In 2003, the economy of Boonton’s nominal GDP was $1300 and its GDP deflator was 200. Calculate…

A: Nominal GDP includes both the growth and prices. Real GDP shows only the growth in the economy. Real…

Q: Which of the following is included in the measurement of GDP? (A) The beauty of art. (B) The love of…

A: Economies tend to get involved in various economic activities, such as the consumption of goods and…

Q: The value of GDP deflator is 161.82 and the value of real GDP is $1300  Calculate the value of…

A: The given information is as follows:- GDP deflator = 161.82  Real GDP = $1300 The formula for GDP…

Q: 2. Fill in the blanks: Real GDP Nominal GDP GDP Deflator (base year (in 2000 dollars) (in current…

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

Q: If the nominal GDP is $118 current price index is $112 find the real GDP

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: Question 3 Participants Cost of Value of Materials Sales Farmer $ 0 $ 100 Cone factory 100 250 and…

A: Hi, you have asked multiple questions in this session and we are allowed to answer only one…

Q: Following are the Value added of different stages of bread production. Calculate the GDP.   Stage…

A: In an economy, the cost of input will be the market value of that input and the sum of the value…

Q: During 2009, the leather company produced enough leather for 20 couches.  The couch manufacturing…

A: GDP: The GDP is the value of all finished goods and services or products produced in the economy…

Q: Calculate the value of the GDP deflator in 2004. a. 113 b. 116 c. 119 d. 120 *base year is 2003

A: The formula for GDP deflator  GDP deflator =Nominal GDPReal GDP×100 Base year is 2003 We have to…

Q: 2. Given are the following sets of accounts: RM (Million) Compensation to employees Proprietor's…

A: Use below formula to find the GDP:GDP=Compensation of employees+Interest + rent+profit+indirect…

Q: Year Price of Dates Quantity of Dates Price of fish Quantity of Fish 2018 RO 50 100 RO 30 100 2019…

A: GDP: It refers to the goods and services which are produced in an economy. The GDP shows the growth…

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A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Which economic activities should be considered in the calculation of GDP? Calculate the GDP of the…

A: GDP( Gross Domestic Product): The calculation of total monetary or market value of all the finished…

Q: 2015 2016 2017 2018 2019 2020 GDP in Current US$ 18,238.30 18,745.08 3 21,433.22 (Billion) GDP in…

A: Solution- 2015- Nominal GDP per capita=Gross Domestic Product/Population…

Q: Which of the following transactions would NOT be counted in GDP? Select one: a. Nike builds a retail…

A: GDP refers to gross domestic product which is accounted by addition of all the values of final goods…

Q: The real GDP is $2300 million and the value of Nominal GDP is $2700 million Calculate GDP deflator

A: The given information is as follows:- Nominal GDP = $2700 million Real GDP = $2300 million We need…

Q: Participants Cost of Value of Materials Sales Farmer $ 0 $ 100 Cone factory 100 250 and ice…

A: In this question , we will use the value added method.  In this method , we add value added in each…

Q: Years 2011 2013 42,511 48,722 49,392 46,285 103.2 2012 2014 Nominal GDP Consumer Price Index (base…

A:

Q: Nominal GDP of a country  is $400 million and Real GDP $200. Calculate the GDP deflator.

A: Below are the given values: Given the Nominal GDP = $400 Real GDP = $200

Q: Fill in the missing data for the following data.

A: The GDP deflator is the ratio of nominal GDP to real GDP and multiplying by 100. Nominal GDP is…

Q: A car manufacturing company produces a $20,000 car using $16,000 worth of components and$4,000 worth…

A: GDP is the gross domestic product of an economy, that calculates the total value of all final goods…

Q: A firm manufactured a computer hard desk and keyboard and sell to a computer manufacturing firm for…

A: Contribution to GDP is the final added value. It is the monetary value of final added goods and…

Q: Define Gross Domestic Product and Gross National Product (GNP). Explain the difference between Gross…

A: Gross Domestic Product and Gross National Product are methods of national income accounting.

Q: Gross Domestic Product  If nominal GDP in 1975 was $1699.9 billion and the GDP deflator (price…

A: The real GDP is the market value of all final goods and services produced in an economy during an…

Q: 1. Farmer Brown produces $100 worth of milk. He sells $40 worth of the milk in the market and uses…

A: The term "gross domestic product" (GDP) basically refers to a monetary metric that is used to…

Q: Year Nominal GDP Real GDP Price Index 1 5,200 4,800 5,500 112 3 5,740 5,000 Refer to the table. (GDP…

A: The formula is:Real GDP = nominal GDPPrice index×100  =5500112*100=4910.71429=4910.71

Q: In an economy, the total expenditure is $5500 and the revenue expenditure is $2000 Find the value…

A: The information being given is:- Total expenditure = $5500  Revenue expenditure = $2000 We have to…

Q: a)  Compute the nominal GDP in 2018. b)  Compute the real GDP in 2018? c) Compute the nominal GDP in…

A: Given  2018 as the base year Nominal GDP = Current Year price * Current year quantity Real GDP =…

Q: If GDP deflator is 177 and real GDP is $16000 million Calculate the value of Nominal GDP

A: The information being given is:- GDP deflator = 177 Real GDP = $16,000 million We have to calculate…

Q: A farmer grows a bushelof wheat and sells it to a miller for $1.00. The miller turns the wheat into…

A: The gross domestic product(GDP) refers to the market value of all the final commodities(goods and…

Q: For each situation, identify if it is included in GDP, then identify the category C, I, G, or X-M…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: A farmer grows a bushel of wheat and sells it to a miller for $1.00. The miller turns the wheat into…

A: GDP is the gross domestic product which is the value of total goods and services produced in an…

Q: COMPUTE THE NOMINAL GDP

A: A country's nominal GDP is determined using current prices and is not adjusted for inflation.…