Macroeconomics >custom<
17th Edition
ISBN: 9781323406977
Author: R. Glenn Hubbard, Anthony Obrien
Publisher: PEARSON
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Question
Chapter 13, Problem 13.3RDE
(a):
To determine
The idea of Lucas about the
(b):
To determine
The idea of Lucas about the Phillips curve with annual GDP data.
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Students have asked these similar questions
This podcast is a little more straight
history than the others we will listen,
so there is less obvious discussion
questions. But first, what about the
history and evolution of GDP did you
find most interesting or surprising in
this Podcast.
Here is the list of countries by GDP
per capita and World Happiness
Report rankings.
Toward the end of the podcast they
talk about how GDP has become a
measure of quality of life, and maybe
that is incorrect. Take a look at these
rankings and decide for yourself if
GDP is a good proxy for quality of life.
What does GDP per capita leave out
making it, perhaps, not a great proxy
for quality of life.
GDP per capita & WHR rankings
Use the data on real GDP in the following table to answer the questions.
Country
Mexico
France
2017
2018
2019
$4,553
$4,632 $4,630
5,432
5,531 5,613
United States 17,432 18,144 19,092
Note: All values are in billions of domestic currency at constant prices.
Source: International Monetary Fund, World Outlook Database, January 2021.
The country that experienced the highest rate of economic growth during 2018 is
percentage rounded to two decimal places.)
The country that experienced the highest average annual growth rate between 2018 and 2020 is
(Enter your response as a percentage rounded to two decimal places.)
2020
$4,228
5,145
18,423
The country that experienced the largest percentage decline in real during 2020 is
rounded to two decimal places and include a minus sign.)
with a growth rate of %. (Enter your response as a
with an average annual growth rate of
with a growth rate of % (Enter your response as a percentage
Time Remaining: 02:07:08
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For the following question , please indicate whether current GDP of the United States will be affected and, if so, by how much .In each case, indicate also which component(s) of GDP will be affected and by how much
This month, a manufacturer in colorado sells $60,000 worth of t-shirts to a distributor in New York City, who sells them to the public. Then the New York distributor buys corporate bonds for a value of $10,,000, which promise to return $9400 one year from now.
Chapter 13 Solutions
Macroeconomics >custom<
Ch. 13 - Prob. 13.1.1RQCh. 13 - Prob. 13.1.2RQCh. 13 - Prob. 13.1.3RQCh. 13 - Prob. 13.1.4RQCh. 13 - Prob. 13.1.5PACh. 13 - Prob. 13.1.6PACh. 13 - Prob. 13.1.7PACh. 13 - Prob. 13.1.8PACh. 13 - Prob. 13.1.9PACh. 13 - Prob. 13.1.10PA
Ch. 13 - Prob. 13.1.11PACh. 13 - Prob. 13.2.1RQCh. 13 - Prob. 13.2.2RQCh. 13 - Prob. 13.2.3RQCh. 13 - Prob. 13.2.4RQCh. 13 - Prob. 13.2.5PACh. 13 - Prob. 13.2.6PACh. 13 - Prob. 13.2.7PACh. 13 - An article in the Economist noted that the...Ch. 13 - Prob. 13.2.9PACh. 13 - Prob. 13.2.10PACh. 13 - Prob. 13.2.11PACh. 13 - Prob. 13.2.12PACh. 13 - Prob. 13.2.13PACh. 13 - Prob. 13.2.14PACh. 13 - Prob. 13.3.1RQCh. 13 - Prob. 13.3.2RQCh. 13 - Prob. 13.3.3RQCh. 13 - Prob. 13.3.4PACh. 13 - Prob. 13.3.5PACh. 13 - Prob. 13.3.6PACh. 13 - Prob. 13.3.7PACh. 13 - Prob. 13.3.8PACh. 13 - Prob. 13.3.9PACh. 13 - Prob. 13.3.10PACh. 13 - Prob. 13.4.1RQCh. 13 - Prob. 13.4.2RQCh. 13 - Prob. 13.4.3RQCh. 13 - Prob. 13.4.4PACh. 13 - Prob. 13.4.5PACh. 13 - Prob. 13.4.6PACh. 13 - Prob. 13.4.7PACh. 13 - Prob. 13.4.8PACh. 13 - Prob. 13.4.9PACh. 13 - Prob. 13.4.10PACh. 13 - Prob. 13.1RDECh. 13 - Prob. 13.2RDECh. 13 - Prob. 13.3RDE
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- By How Much Will U.S. GDP Grow Next Year?arrow_forwardWhat happens to each sector of the economy when recession occurs?arrow_forward17 01:27:36 Use the following diagrams for the U.S. economy to answer the next question. AS₁ AS₂ 这 AD Real GDP (1) AS₂ AS, * AD (3) Real GDP (2) NY AD₂ AD₁ Real GDP AD₂ Real GDP AD₁ If the economy is initially at full employment, which of the diagrams best portrays a recession resulting from a decrease in government purchases?arrow_forward
- Use the information in the table to answer the following questions. All numbers are in billions of 2012 dollars. Real GDP (Y) Consumption (C) Planned Investment (I) Government Purchases (G) Net Exports (NX) $15,000 $11,750 $1,500 $3,000 -$500 $16,000 $12,500 $1,500 $3,000 -$500 $17,000 $13,250 $1,500 $3,000 -$500 $18,000 $14,000 $1,500 $3,000 -$500 $19,000 $14,750 $1,500 $3,000 -$500 The equilibrium level of GDP is $ 18,000 billion. The MPC is (enter your response to two decimal places).arrow_forwardIf you read in the newspaper that the United States’ 2015 real GDP declined while nominal GDP for 2015 grew, how could you explain this?arrow_forwardWhat can you infer from the 2018 Global Cities Index and the 2018 Global Cities Outlook?arrow_forward
- Van and Amy Cho live in Swarthmore, PA. Amy's father, Carlos, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M Amy gets a new video camera made in the United States. Van buys a sweater made in Guatemala. Amy's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Van's employer upgrades all of its computer systems using U.S.-made parts. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.arrow_forwardSavings and wealth - Although the United States is one of the richest nations in the world, it is also one of the world's largest debtor nation. We often hear that the problem is our low savings rate. Suppose policy makers attempt to rectify this be encouraging greater savings in the economy. What could they do to make you save more? Would raising minimum wage help? What effects would their successful attempts have on GDP? Is this a good or bad idea? What can you do to increase your savings rate? Also, how is wealth related to savings?arrow_forwardConsider the following hypothetical data for the U.S. economy in 2018 (all amounts are in trillions of dollars; see pages 179–182).Consumption 11.0 Indirect business taxes .8 Depreciation 1.3 Government spending 3.8 Imports 2.7 Gross private domestic investment 4.0 Exports 2.5e. Based on the data, what is GDP? NDP? NI?f. Suppose that in 2019, exports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will GDP be in 2019, assuming that other values do not change between 2018 and 2019?arrow_forward
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