Macroeconomics

Question 34 Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the questions that follow: Assume that the base year is 2012. What was the growth rate of real GDP between the two years?

The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP for each decade jump. Indicate in each calculation whether you are inflating or deflating the nominal GDP data.

-Nominal GDP is the value of final goods and services evaluated at current-year prices and are calculated by summing the current values of final goods and services. In the other hand, the real GDP is and services in the base year to calculate the value of goods and services in all other years. “Real GDP holds prices constant, which makes it a better measure than nominal GDP of changes in the production of goods and services from one year to the next. In fact, growth in the economy is almost always measured

Identify economic factors that affect the real GDP, the unemployment rate, the inflation rate, and a key interest rate. How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes?

Gross domestic product is the market value of final goods and services produced within a country in a given period. Which this is commonly considered an indicator of the standard of living within a country. Real GDP on the other hand is measure of the value of economic output that adjust for price changes. Nominal GDP is a gross domestic product figure that has not been

After looking into the Bureau of Economic Analysis on the Department of Commerce’s website my results on the latest release for real GDP is as

If GDP grows at 2% per year it would take 71 years for the Per Capita GDP to double. To solve I used the following formula: =LOG(2)/(LOG(1.03)-LOG(1.02))= 71.04702

Fill in the table below. Calculate the per capita GDP for the most recent available year for the countries with the equation

33. Which of the following is not a problem associated with GDP as a measure of social

+ "1. What were the percentages in population growth for each consecutive year from 1994 - 2013?\n"

c. If the answer to b is yes, copy in the line for the GDP. If the answer to b is no, find the GDP for a country in the same region of the world as your country and copy it into

Incorrect. The correct answer is B. As explained in Section 2-1, real GDP equals nominal GDP divided by the GDP deflator.

Real GDP can be calculated with the use of prices derived from a given base year, and this helps in the adjustment to changes in price. Through this perspective, it becomes possible for the real GDP to measure accurately changes relating to output

First, from the textbook, Economic Growth, I collected the real GDP all over the world from 1995 to 2005. And I calculated the GDP growth rate in each country by the growth rate equation: g=[(Xt+1)/(Xt)](1/n)-1.

Real GDP is measured by the following formula; [(current year quantity) x (based year price)]. A more reliable measure of economic growth is real GDP per capita; this measurement takes into account both the total production of the nation and the total population. Real GDP per capita measures the real income per head of the population.