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Question 5
Using the data in the table below, to complete the tasks for this question.
|
|
Data for 2019 (Base Year) |
Data for 2020 |
||
|
|
Quantity |
Price |
Quantity |
Price |
|
Potato |
600 |
2.50 |
680 |
3.00 |
|
Rice |
840 |
2.00 |
800 |
2.80 |
|
Computers |
500 |
850 |
450 |
950 |
|
Cars |
300 |
15,000 |
200 |
18,000 |
- Calculate Nominal
GDP for 2019 and 2020. Show your workings.
Step by step
Solved in 2 steps with 3 images
- pogle Chrome ent.psonsvc.net/#/question/e11ff315-a51f-4f27-8334-e96043b21297/03090c2e-bf7c-4193-af41-2fcd14c413bc Review - A Bookmark 目 国 58 CDB 2 2020-2021 Online 16 of 26 A student created the following pre-writing flow chart for an essay in history class. A new tariff was passed in 1828 to protect American made goods from foreign competition. South Carolina declared the tariff void in their state, claiming it was unconstitutional under Amendment 10. President Jackson threatened military force, and a compromise was made to lower the tariff. Based on the information above, what historical event is most likely the topic of this paper? O A. Monroe Doctrine O B. Nullification Crisis O C Louisiana Purchase O D Three-Fifths Compromise Mail Type here to search 立X.The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018 Price 2017 (Base year) Production Price 2018 Price per Unit ($) Production Price per Unit ($) 55,000 tem Rice ('000 tons) Wheat (000 tons) Tractors mid-size (units) Cotton (000 tons) Used cars ('00) Manufacture garments (000 tons) Eggs (000 Trays Coca Cola ('000 litres) Pepsi Cola ('000 litres) Beef (000 tons) Second hand cloths (000 tons) Alcoholic Beverages ('000 litres) Milk ('000) 50,000 100,000 1.50 2.00 23,000.00 2.00 98,000 45,000 2.50 24,500.00 50,000 120,000 5,000 150,000 110,000 6,000 100.00 120.00 5,000.00 7,000.00 50.00 145,000 70.00 2,000 6,000 2.50 3.50 2,300 6,500 0.80 1.20 700 1.10 850 1.50 5,000 500 500 7,000 6.50 4,800 8.50 15.00 450 25.00 3.25 600 3.75 2.30 7,500 2.50 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and…2006 2006 2011 2011 Product Quantity Price Quantity Price Movies 20 $6.00 30 $7.00 Burgers 100 $2.00 90 $2.50 Bikes 3 $1,000.00 6 $1,100.00 Use the information to calculate (a)Nominal GDP of 2011 and (b)Real GDP in the year 2011 (Assume 2006 as the base year). (c)ls it ever possible for Real GDP to be higher than Nominal GDP of any year? when? ( 1-2 LINES ONLY)
- The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019- 2020. Use the information in this table to answer the questions that follow. Base year 2019 Productio Items 2020 Productio Price Price n n Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) Cloth (units) 1,200.0 8,000 500.00 11,000 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) Milk (litres) Computers (Units) Printers (Units) Raw materials for car assembling plant (Units) 1,500 2.00 1,700 3.00 5,000 2,000 500.00 500 300.00 4,500 250.00 1.30 7,000 2.50 2,500 600.00 400 355.00 4,450 300.00 i. Calculate Happyland Republic's nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. Show your work.The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018 Items Production Price per/unit ($) Production Price per/unit ($) Rice (tons) 50,000 1.5 55,000 2 Wheat (tons) 1,00,000 2 98,000 2.5 Tractors 50,000 23,000 45,000 24,500.00 mid-size (units) Cotton (tons) 1,20,000 100 1,10,000 120 Used cars (units) 5,000 5,000 6,000 7,000 Manufacturing Garments (tons) 1,50,000 50 1,45,000 70 Eggs (trays) 2,000 2.5 2,300 3.5 Coca Cola (litres) 6,000 0.8 6,500 1.2 Pepsi Cola (litres) 700 1.1 850 1.5 Beef (tons) 5,000 6.5 4,800 8.5 Second hand clothes (tons) 500 15 450 25 Alcoholic Beverages (litres) 500 3.25 600 3.75 Milk (litres) 7000 2.3 7,500 2.5 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP.…File Tools View EXERCISE 2 FOR NATIONAL INCOME [Compatibility Mode] - Word Electricity, gas, and water 64,000 Indirect tax 36,000 KUPTM Subsidies 220,000 Wages and salary KOLEJ UNIVERSITI POLY-TECH MARA KUALA LUMPUR -32,000 ЕСОЗ033/ ЕСO201 - ЕCONOMICS Calculate: EXERCISE FOR CHAPTER 6: NATIONAL INCOME i. Gross domestic product (GDP) at market price. QUESTION 1 Table 1 shows the national income for Zimbabwe in December 2020. 11. Gross national product (GNP) at market price. Table 1: National Income Statistics for Zimbabwe in December 2020. ITEMS RM MILLION Agriculture 48,000 Mining and quarrying 10,000 iii. 111. Gross national product (GNP) at factor cost. Education 12,000 Military 64,000 Telecommunication 84,000 Net payment from abroad 240,000 iv. National income Capital consumption 60,000 Tourism 92,000 Screens 1-2 of 4 100%
- Question 1 The table below shows the national income data of a country with a population of 40 million. Using the information in the table below, answer the following questions. Items RM (million) Wages and salaries Export Wholesale and retail Import Public consumption 35 20 13 10 30 Subsidies and financial aid 5 Government expenditure 24 Corporate investment Net property income from abroad 40 15 Based on the data given above: a) Calculate the value of GDP using expenditure approach. b) Calculate GDP per capita? c) Differentiate Real GDP and Nominal GDPQuestion Explore 05 yearly data of the following indicators with respect to Pakistan in graphical as well as tabular form, summarize the 05-year economic performance of Pakistan with the help of your data also elaborate the reasons for ups and downs in these factors. a) Gross Domestic Product (GDP) b) Gross National Product (GNP) c) Net National Product (NNP) d) Net Domestic Product (NDP)Question 6 8.5- 8 75 7- 65- 6- 5.5- 5. 45- 4 3.5- 3 2.5- 2 15- 1 0.5- Price 200 500 650 Social Cost I Private Cost Demand Quantity What will be total revenue after the government intervenes? Carefully follow all numeric instructions. We will use this graph one more time in the next question.
- Instructions: Round your responses to the nearest billion. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. Calculate real GDP for 2000 using 2010 prices. $ 18596.67 billion b. By how much did real GDP increase between 2010 and 2000? $ 2543.64 c. By how much did nominal GDP increase between 2010 and 2000? billion $ 4707 billionYear Cost of a basket (R) of consumer goods/services (Base year ) 2015 1850 2016 2190 2017 2380 2018 2560 Use the information in Table 3 to measure the consumer price index for 2016, 2017 and 2018 respectively. Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domestic product (GDP). Explain, with the aid of an equation, the components of the consumption function. Explain the relationship between Investment spending and the interest rate.2) Below is the Table showing the annual gross electricity demand (TW.h) of Turkey versus gross do product a) Draw gross domestic product versus electricity consumption and find the equation of the line by the graphical method (be careful determining the dependent and the independent variables) b) By using the equation you have found, predict the electricity demand when GDP becomes 2500 billion S. Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GDP (billion $) 800 928 1024 1120 1094 1250 1433 1532 1691 1861 1966 2040 2186 gross annual electricity consumption (TWh) 161 175 190 198 194 210 230 242 246 257 266 279 295
