What will be the National income at current price if current price is $300 and the current quantity is 2000 units

Q: Discuss the problems with the Consumer Price Index.

A: Consumer price index measures the change in quantity demanded by the consumers when the prices of…

Q: An economy produces two goods A and B. Both households and the government purchase goods A and B.…

A: Given: Goods produced by the economy=A and B Note: Due to multiple questions being posted, the first…

Q: We always hear about individual (and contractors) working "under the table", does this income really…

A: Black market refers to the market where commodities are traded illegally. Generally, the black…

Q: AS2 AS, AS3 e2 P3 AD Q, Q, Q3 Real Domestic Output to ASo what will happi Price Level

A: As per the graph given above, The shift of Aggregate Supply curve from AS1 to AS2 can be explained…

Q: Use the information in the table below to answer Q.3.1 to Q.3.3: GDP at market prices R397bn Net…

A: The GNP at market price(MP) shows us the value(in monetary terms) of all the finished goods &…

Q: Use the information in the table below to answer  GDP at market prices R397bn Net primary income…

A: The difference between the value of gross national product and depreciation is referred to as net…

Q: Consumption basket consumed by an average consumer and the price level of each good in the basket…

A: Consumer price index(CPI): - it is a measure of change in the price level, it measures the change in…

Q: Household consumption is affected by which of the following? Interest rato

A: Household consumption is affected by various factors.

Q: base on the table given calculate the gross domestic product at current prices for each quarter

A: Gross domestic product is the sum total of money value of goods and services produced in an economy…

Q: discuss possible variations in purchasing power due to price and income changes

A: The consumer or the individual would result in consuming various amounts of goods and services given…

Q: Year Units of Output | Price per Unit 8 $ 2 10 3 15 4 4 18 20 6 The accompanying table gives price…

A: Here, price and output is given for 5 different years and year 2 is taken as base year.

Q: Suppose that there are only 2 goods in the economy, A and B. We have yearly data on prices (p) and…

A: Nominal GDP estimates a nation's GDP utilizing current costs, without adapting to expansion. Balance…

Q: Question   a.Calculate GDP Deflator for all three years. b.Calculate Inflation rate in year 2 and…

A: GDP is the market value of all goods and services produced in an economy. GDP Deflator is a measure…

Q: When a nominal value is unchanged it must be true that prices have remained unchanged. Select one:…

A: Introduction: Nominal Value: It is the value or price of the commodity that does not include…

Q: The consumer price index (CPI) has increased from 80 to 88. Calculate the inflation rate

A: The Inflation rate is that the life of the rise or rate of increase within the general worth of…

Q: Calculate the nominal rental price of capital Md=(.67Y-0.5r)P Ms=100 P= 0.96 Y=150 r= -6…

A: The real rental price is determined when the demand for capital is equal to the supply of capital.…

Q: Calculate the national income for 2021 if the national domestic product at factor cost is $6500…

A: The information being given is:- National domestic product at factor cost = $6500 million Net factor…

Q: If price index for the current year is 150 and national income at current price is $150000 million…

A: The information being given to us is :- Price index for the current year = 150 National Income at…

Q: State with valid reason, which of the following statement is true or false: a. Gross Value Added at…

A: An intermediate good, also known as a consumer good, is a product that is used to create a final…

Q: Use the following basket of goods for years 2006, 2007, and 2008 to answer questions 1 through 10:…

A: In an economy, price change in different periods is calculated by the price indexes such as consumer…

Q: The Bureau of Economic Analysis has recently released the following information for the most recent…

A:

Q: The consumer price index increased from 220 to 253. If you received a raise equal to 10% during this…

A: For real income to increase, the rise in salary or payments must be larger than the increase in rate…

Q: Is the consumer price index a good measure of the general price increase of consumers? How?

A: The consumer price index is an extensive measure utilized for estimation of value changes in a bit…

Q: . _______ Demand is aa. relationship between prices and the quantities purchased by buyers.b.…

A: Demand and supply are the two fundamental forces of economics which are necessary for  establishing…

Q: Assume that this economy produces only two goods Good X and Good Y. If year 2 is the base year, the…

A: Formula for GDP deflator is = Nominal GDP/ Real GDP * 100 Calculate the Nominal GDP and Real GDP…

Q: Explain why transfer payments are excluded from national income statistics.

A: National income statistics serve a very important purpose for policy makers and economic planners.

Q: You have the following information: employee compensation $3.5 trillion net interest $1.3 trillion…

A: Use the below formula for the calculation: Net National product= Employee compensation + Net…

Q: Assume that over the last 10 years the gross domestic product of Econostan increased by 25% while…

A: Gross domestic product(GDP) of a country refers to the market/monetary value/worth of all the goods…

Q: How much did RGDP increase from 2006 to 2007, using 2004 as the base price year?

A: RGDP is the real gross domestic product. It is calculated by multiplying the quantity of goods…

Q: Real national income is national income measured in constant (base-period) dollars. It changes only…

A: National income is the income which is earned by the citizens of the country in a particular…

Q: Consider the following Economy: Price of Apples Quantity apples Price oranges Quantity Oranges Time…

A: The nominal GDP in time period 1 is computed as:(Price of apples in time period 1× Quantity of…

Q: The Consumer Price Index (CPI) is designed to reflect O only prices faced by consumers in their…

A: The Consumer Price Index (CPI) measures how prices for a market basket of consumer goods and…

Q: In an economy, the total expenditure for a market basket of goods in year 1 ( the base year) was…

A: The Price Index is nothing but the relative/average normalized prices of a particular basket of…

Q: Price level (P) LRAS, LRAS2 SRAS,

A: Aggregate demand (AD) is the sum of consumption, investment, government spending, and net exports.…

Q: What is meant by a “market basket rate”?

A: A permanent bundle of goods and services that are purchased and sold in the market throughout the…

Q: What would be the value of national income if net domestic product at factor cost is $39,000 and the…

A: The data presented in the question is:- Net domestic product at factor cost (NDPFC) = $39,000 Net…

Q: What is the projection of the BSP regarding the inflation in the coming months?

A: The economists at BSP forecast the inflation rate and try to frame the policies according to it. It…

Q: Use the information in the table below to answer: GDP at market prices R397bn Net primary income…

A: Net national income at factor cost can be calculated by using the following formula.

Q: Discuss the Price Index most commonly used in your country. How is it calculated?

A: The most commonly used measure of the price index is the consumer price index. The Consumer Price…

Q: Q22 MCQ Inflation is an increase in:   a) the price of one item b) the average price level c) the…

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

Q: In an economy find national income if NNPMP is $36,000 and net indirect tax is $22000

A: The information being given is:- Net national product at market price = 36000 Net indirect taxes =…

Q: does not increase output and employment but prices.

A: Inflationary gap is the gap between the aggregate demand (AD) and above its level required to…

Q: Assume the consumer price index (CPI) in 2018 was 95, in 2019 the CPI was 100, and in 2020 the CPI…

A: Correct: c. 5%

Q: A nominal value can increase when either prices or quantities or both increase. Select one: True…

A: A nominal value is an unadjusted value whereas the real value is an adjusted value.

Q: Price level (P) LRAS SRAS,

A: In short run, equilibrium corresponds to short run aggregate supply being equal to short run…