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- What are the main components of measuring GDP with what is demanded?What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?The accompanying table shows data for real and nominal GDP for a hypothelical eoonomy uver several years. a. Calculate the GDP Deflator for 2014 2019. Enter the values in the accompanying table. Raal GIP Nominal GDP (hillions of 2013 $) GDP Deflator Year (billions of $) 2014 775.3 804.8 2015 014.1 2016 862 9 262 9 2017 901.5 8825 2018 951.3 925.7 2019 990.0 950 2 (Entar yaur raspansas ounded to one decmal piace
- Given the following output for the economy of Scoob calculate the nominal GDP in 2020 in $. Gismo Applet Widgets Year Price Quantity Price Quantity Price Quantity 2019 $100 1 $10 8 $5 4 2020 $110 1 $12 10 $4 5 A. 225 B. 250 C. 200 D. none of the aboveWhat is Mexicos GDP?. List the four components of GDP. Give an example ofeach.
- False 3. The value of a 2005 boat you purchase from a boat dealer in 2007 would be counted in 2007's GDP O True FalseA In 2020, it was estimated that the US had 140.8M Housing Units. The homeownership rate in the US is 65.6%. The average monthly rent in the US is $1,098 while the average home price is $284,600. The rent to value ratio in the US is 6.26%. Americans spent $325B on home maintenance costs. If GDP is $22T, housing services makes up what percentage of GDP? a) 12.6% b) 8.9% c) 14.5% d) 5.7% 7) There were around 45 billion credit card transactions in 2019 totaling $3.64 trillion. Surveys show that 44% of credit card holders pay off their full balance every month (are not financing their purchases). Further, merchants pay processing fees of around 2% of the transaction and consumers pay $120B in annual fees. We have the following interest rate information. Interest Rate Average Credit Card Rate 3 Month Treasury 14.5% 0.35% The contribution of credit cards to Gross Output for the US is: a) $707.9B b) $192.8B c) $481.2B d) $120B 8) Consider the following information for prices in France…How do I calculate the equalizing pice and consumption?
- 1. Calculate the GDP by using both formulas, expenditure approach and income approach. Also calculate in each case how much time it will take to double the GDP. YEAR 2 Consumption 6,000 1,500 Investment Depreciation 600 Interest 300 Corporate Profit Exports Compensation of Employees Government Purchases 600 700 6,500 1,000 Indirect Taxes 200 Saving Imports 1,100 500 Rent 500 YEAR 1 Wages 4000 Rent 1000 Interest 500 Proprietor's Income Consumption Depreciation 2000 3000 200 Investment 1500 Indirect Taxes Government Purchases Savings Imports Exports 300 2500 700 9000 10000What is the value of Laspeyres Price Index and Paasche Price Index of india quarterly from 2011 to 2020 s.o that i can estimate india gdp more accuratelyFor each of the following transactions, determine the contribution to the currentyear’s GDP.a) On January 1, you buy 10 gallons of petrol at GHC 15 per gallon. The fillingstation purchased the petrol the previous week at wholesale price of GHC 12per gallon.b) You purchased a locally manufactured AK 47 used in the 2nd world war duringan exhibition for GHC 2million. The brokerage fee was 6% of the sale value.c) A homemaker enters the work force, taking a job that pays GHC 40,000 a year.The homemaker now hires a nanny who is paid GHC 16,000 per year.d) You are informed that you have won a lottery worth GHC 3million to be paidto you immediately.e) You are informed that you have won a lottery worth GHC 3million to be paidto you immediately. In addition, the GNL pays you GHC 5000 to appear intheir promotional advert.f) Busy internet replaces all its stock of all computers with brand new locallymanufactured computers from rLg worth GHC 100m. It sells its old computersfor GHC 40million to rLg…