The growth rate of nominal GDP was 9.4%, and the growth rate of real GDP was 7.4% for Iceland in 2016. Approximately what was the percentage change in prices? %Δprices≈
Q: b) households; automobiles
A: By definition, Consumption, in Economics, is the use of goods and services by households. Consumptio...
Q: What is the Nash Equilibria of the following game? Penalty Game Кeeper L R Striker L 1,-1 -1, 1 R -1...
A: We solve this game using probabilities and thus the Nash Equilibrium is termed as mixed strategy Nas...
Q: If a country was growing at a rate of 4% per year how long would it take that country to double its ...
A: According to Rule 70: The number of years to double = (70 / Annual growth rate) Note: If the annual ...
Q: How can you use ideas of globalization to support sustainable access to food?
A: Globalisation's greatest benefit, however, is the sharing of agriculture and production practises an...
Q: The transmission mechanism of monetary policy is how central banks attempt to control the price leve...
A: Monetary policy is the policy instrument of central bank under which it aims to control the money su...
Q: Ways in which women and children can be protected from violence and discrimination
A: In any society, whether it is socialist, capitalist, or mixed, women and children are the most explo...
Q: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019. Inv...
A: Hector spent for the maintenance of his car P 70,000 per month will be considered Consumption = P ...
Q: Which of the following goods would you expect to have the lowest price elasticity of demand? O Diamo...
A: Price elasticity of demand judges the responsiveness i.e it look after the sensitivity of quantity d...
Q: Construct a well-labeled diagram of supply and demand in the market for loans that depicts an equili...
A: Introduction Credit rationing has decided by Fed. They fixed or limit credit in the market for diffe...
Q: The following information is for the fictitious nation Alpha: Working-age population = 1.5 million L...
A: The labour force participation rate is the measure to evaluate working-age population in an economy ...
Q: Which of the following are practical and effective policies to deal with carbon emissions caused by ...
A: Carbon emission is such a condition where carbon is released into the atmosphere. Global warming is ...
Q: b) If two regression models are fit to the same population having two different samples, what are th...
A: Regression is the methodology applied to test the relationship between two or more variables. One in...
Q: 3. The more important question concerns the cumulative effect of an initial change in autonomous spe...
A: The Keynesian cross model says, Y=C+I+GC=a+cY where C, I and G are consumption , investment and Gove...
Q: b) If there is $200 billion worth of crowding out, what will be the net increase in aggregate demand...
A: Aggregate demand is a measurement of the total amount of demand for all finished goods and services ...
Q: FIGURE 7-2 $100 90 80 70 60 50 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure 7...
A: please find the answer below.
Q: If the production function describing an economy is Y= 20 KL2, then the share of income going to cap...
A: The given production function (Y), depicts the value of the output (q) yielded with capital (K) and ...
Q: RobbinGood sells financial trades to retail traders (r) and institutional traders (i) whose demand c...
A:
Q: A firm produces a good at a marginal cost of $20 per unit and sells it for $40 per unit. It currentl...
A: P = 30 - 0.05Q TR = PQ => TR = 30Q - 0.05Q2 Differentiate TR w.r.t Q to get MR => MR = 30 - 0....
Q: Consider an offshoring model such as the one illustrated in Figure 7‑1 in the text. In this model, t...
A: Answer:- Through the given statement, the wages for profoundly gifted work in the home nation are mo...
Q: Question 41 If inflation occurs in a country, we know that a) both real and nominal wages are rising...
A: Correct option is b).
Q: use a graph to illustrate if the event changes demand.
A: According to the law of demand when price increases quantity demand decreases accordingly and vice v...
Q: In macroeconomics, how can you tell when someone has worked too hard or too little during a period ...
A: Introduction inflation generally mean that prices becomes high and purchasing power becomes low, in ...
Q: 2. Suriname and Paraguay consume two goods, coffee and machines, and labour is the only input into p...
A: Amount of production of both the goods in both countries can be stated as : Number of units produced...
Q: How does money velocity contribute to the observation that in countries with high rates of inflation...
A: The rate at which money is traded in an economy is measured by the velocity of money. It refers to t...
Q: 11.The Harrod-Domar model of growth key ingredients are: a. The depreciation rate is endogenous to ...
A: The Harrod-Domar model of economic growth is a Keynesian model. In development economics, it's used ...
Q: Assume a competitive firm faces a market price of $100, a cost curve of: C-1.00g + 25g + 1,600 and a...
A: Profit is the difference between total revenue and total cost . And average profit means profit per...
Q: Which of the following best explains why the supply of housing in Detroit is much less elastic than ...
A: Availability is a basic economic notion that refers to the total amount of a given item or service p...
Q: According to the textbook, the fully completed house that one could buy from the Sears catalog in 19...
A:
Q: Question 31 An economic downturn can lead mainly to which type of unemployment? a) structural O b) f...
A: Unemployment: Unemployment is a state of affairs in which all people who are actively looking for wo...
Q: A consumer has S600 to spend on good x and y. Her preferences can be represented by the utility func...
A: U(x,y)=100lnx+y Px=$10 Py=$5 M=$600 Optimal bundle is obtained when marginal utility per dollar of b...
Q: Honey bees kept by beekeepers pollinate flowers and plants nearby (not just those owned by the beeke...
A: The socially optimal cost to charge an individual for any great is the marginal expense of giving th...
Q: Countries in a customs union must agree on common: ¨ a. languages in which they communicate. ...
A: A customs union is a contract between the two or more bordering countries to lower or eliminate trad...
Q: Price (dollars per tire) S+ tax 70 60 50 40 30 20 10 10 20 30 40 50 60 70 Quantity (millions of tire...
A: In the diagram we see that before the imposition of the tax, equilibrium price was $50 per tire. Aft...
Q: Provide a plausible explanation, using a demand-supply graph, for each of the following outcomes: 1...
A: In a competitive market, the equilibrium price and quantity of a good are determined at a point wher...
Q: Use the following model framework to conduct an intertemporal analysis of the stock pollution. In ea...
A: GIVEN time period t Mt = pollution flow (emission) At = pollution stock (concentration in atmosp...
Q: You manufacture t-shirt. For a batch of 2,500 t-shirts, your fixed cost total P100,000 and your unit...
A: Total cost is the sum of variable cost and fixed cost. Fixed cost remains same at all levels of outp...
Q: Adam operates a factory that produces beach towels. His current level of output equals 1000 towels p...
A: Average total cost is referred to as the sum total of all production costs divided by the total quan...
Q: 1. The Executive Director of RBTT ROYTEC is interested in finding out whether ROYTEC staff are satis...
A: Answer -
Q: discuss which country as a excellent border patrol system
A: Border security is very essential in order to provide a peaceful environment in an economy. If the b...
Q: Consider an investment opportunity for Mary Smith that produces a 15 percent positive return if thin...
A: Mary used $20 of her saving and $80 of borrowed money to make $100 investment. After the loss it bec...
Q: repare a 500-word essay on how you view globalization- “My perspectives on globalization.” The essay...
A: Conversations of the spatiality of globalization have to a great extent zeroed in on place-based tra...
Q: 3.1 Suppose the economy of Panicia is initially at a long-run equilibrium. The Central Bank then inc...
A: 3.1 Economy of Panicia is long run equilibrium, aggregate demand and supply changes in the output an...
Q: What is the SPNE of the following game, where Player 1 moves first and can play A or B, and player 2...
A: A subgame perfect equilibrium is a refinement of a Nash equilibrium that is used in dynamic / seque...
Q: . Suppose the demand function for cable TV service is given by Q CTV = 15 - 0.25 x P CTV + 0.0005 x ...
A: Given; Demand Function:- QCTV=15-0.25PCTV+0.0005M+0.3PSTV where; QCTV=Quan...
Q: Draw a map of indifference curves for a person in the following cases: She likes vegetables twice as...
A: Indifference curve shows the combination of two goods that give the consumers same utility or satisf...
Q: How can natural resources conflicts be prevented
A: Natural resources are the resources that are used by people and businesses. People use natural resou...
Q: A consumer has $600 to spend on good x and y. Her preferences can be represented by the utility func...
A: Given; Income of the consumer= $600 Utility function; U(x,y)=y+100In x Price of good x= $10 Price of...
Q: Question 5 5.1 Suppose an economy's production function is Y = AK L'«. If the annual rate of economi...
A: Question 5:- Given; Production Function; Y=AKαL1-α Annual rate of economic growth= 4.5% Labor growth...
Q: Question 26 To avoid double counting when calculating gross domestic product (GDP), it is best to co...
A: To avoid the problem of double counting, only value added at each stage of production should be ta...
Q: 3.2 The Central Bank of Lala-land decides to increase the target inflation rate from 2 to 3 percent....
A: Introduction: The aggregate supply curve, unlike the aggregate demand curve, normally does not alter...
The growth rate of nominal
Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced by countries in a given time period.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A futures market trades contracts on the growth rate for nominal GDP. The contract pays $X to the buyer, where X is 100 times the growth rate in nominal GDP from last year to this year. For example, if nominal GDP grows by 1% over last year, the contract pays $100 (1 x 100). Nominal GDP last year was $28,137 billion. Contracts on the futures markets are currently selling for $460. What is the market's prediction for nominal GDP this year? Put your answer in billions. You may round to two decimal places.Malaysia’s GDP to grow 6.3% to 7.5% next year, KUALA LUMPUR (July 7): International agencies have forecast that Malaysia's gross domestic product (GDP) growth in 2021 will be in the range of 6.3% to 7.5%, according to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.The finance minister said the projections are subject to Malaysia’s continued success in managing Covid-19, as well as in steering and nurturing the economy towards recovery and growth. "As Malaysia is an open economy, whether our growth will be a U-shaped or V-shaped recovery will also depend on external factors, such as the recovery of our major trading partners as well as the restoration of global supply chains," he said in his welcoming address at Invest Malaysia 2020 today. Malaysia recorded only five new Covid-19 cases yesterday, with only 198 active cases and an approximately 98% recovery rate to date. "The rate of infections may have been low in our country, but the public have been constantly reminded…Stagflation and recession are increasingly being used to describe where the economy might be headed. The World Bank warned on 14th June 2022, that global economies were at risk of stagflation if not recession. "The world economy is again in danger," David Malpass, president of the World Bank, said in the latest edition of the Global Economic Prospects report. "It is facing high inflation and slow growth at the same time. Even if a global recession is averted, the pain of stagflation could persist for several years - unless major supply increases are set in motion. Explain the main differences between stagflation and recession, if we had to face one, which one would be less painful?
- By How Much Will U.S. GDP Grow Next Year?In 2010, China's GDP per capita grew by approximately: 7%. 8%. 9%. 10%.The Wakandan GDP for the year 2040 was $87,000. Government expenditures were $29,000 and investment was $6,000. They exported $15,000 worth of vibranium and imported $14,000 worth of coffee beans. If these are the only relevant transactions, what is the value of government spending? Round to two decimal places. Do not enter the currency symbol, but enter the negative sign if appropriate. If your answer is -$1.125, enter -1.13. 29,000
- Let's normalize Canadian GDP in 2005 to 100. Out of that, consumption was 70, investment was 20, government expenditure 20, and Canada ran a trade deficit of 10. In the following decade consumption grew at 1.5% per year, investment increased by 10% over the decade, and both government and net exports remained unchanged. Q: Calculate the average annual growth rate of GDP. Show your derivations.<According to the rule of 70 and 72, a 10% annual increase in real gdp would lead to a doubling of real gdp in how many years?If GDP is $20 trillion, how many years will it take for GDP to increase to $160 trillion if annual growth is 10 percent? Instructions: Enter your answer as a whole number. years
- Suppose that the real GDP of a country was $90 billion in the first quarter of 2021 and $100 billion in the second quarter of 2021, the BEA reported that the U.S. economy grew % when annualized?Assume that this economy produces only two goods Good X and Good Y. If year 2 is the base year, the value for this economy's real GDP in year3 is: A- = 2000 B- = 2500 C- = 3600 D- = 3750 Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is: A- = 100 B- =121 C- = 130 D- =150 Assume that this economy produces only two goods Good X and Good Y.When the pandemic hit in the beginning of 2020, everything came to a halt. In a single month, 17 million Americans lost their job, and the gross domestic product (GDP), which is how economists measure the total value of a country's products and services, declined by US$2.15tn (£1.55tn). Economists were hopeful that across the world government spending and monetary policy would keep the economy from totally collapsing. During the first wave of lockdowns and stay-at-home orders since December 2019, it was clear that industries that relied on in-person customers - like travel and some retail - were going to struggle, while others would more easily adapt to the "new normal". Tech-heavy companies that delivered products or services to people's homes—like Amazon, Netflix, and Shopify—thrived. To improve the impact of the pandemic, most countries adopted an expansionary monetary policy. The change in the real interest rate influenced the goods market. Aggregate demand changed but there was no…