. Which of the following fall during a recession?a. both retail sales and employmentb. retail sales but not employmentc. employment but not retail salesd. neither employment nor retail sales

If nominal retail sales increase then Select one: a. real retail sales must also have increased. b. real retail sales and retail prices have increased. c. one of real retail sales and retail prices have increased. d. retail prices must have increased.

I need explanation real GDP is correct answer

Question 21 I NGDP in the base year and RGDP in the current aro equal, then Oa There has been inflation or deflation Ob. There has been deflation only Oc There has been inflation only Od The GDP deflator must be equal to 1

The table represents the economy of bonaadventure coffee is used to make cappuccinos and has no other use coffee makers and bean grinders I purchase by all entities as our a cappuccinos the government has determined that the average consumer purchases one coffee maker to Bing grinders and 1000 cappuccinos when necessary used 2019 as a base year A. Calculate the nominal GDP for 2019 b. Calculate the real GDP for 2017c.

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8. If both nominal GDP and the price index are rising, is evident that a) real GP is constant. b) real GDP is rising. c) real GDP is declining.

What is the real GDP in University Town in Year 2 assuming year 1 is the base year? Good Quantityr1 Priceyrı Quantityy2 Priceyr2 Food 1000 1500 3 Housing 200 10 300 15 Clothing 500 1000 10 A. 10000 6500 19000 11000

3. Suppose an economy has two years worth of data, years 1 and 2. Sup- pose there are also two goods, bread and corn. Suppose, in year one, 30 units of corn are sold at a price of 1 $ and 20 units of bread are sold at a price of 2 S. Suppose in year two, 60 units of corn are sold at a price of 1.5 $ and 80 units of bread are sold at a price of 4 $. Compute nominal GDP in both periods. Compute real GDP under both defini tions of a base year. Compute also a chain weighted real GDP series. For all three measures, compute the GDP deflator

5. Real versus nominal GDP Consider a simple economy that produces two goods: cupcakes and envelopes. The following table shows the prices and quantities of the goods over a three-year period. Cupcakes Envelopes Price Quantity Price Quantity Year (Dollars per cupcake) (Number of cupcakes) (Dollars per envelope) (Number of envelopes) 2017 1 110 185 2018 155 200 2019 3 110 165 Use the information from the preceding table to fill in the folowing table. Nominal GDP Real GDP (Dollars) (Base year 2017, dollars) GDP Deflator Year 2017 2018 2019 From 2018 to 2019, nominal GDP and real GDP The inflation rate in 2019 was Why is real GDP a more accurate measure of an economy's production than nominal GDP? Real GDP is not influenced by price changes, but nominal GDP is. Real GDP measures the value of the goods and services an economy produces, but nominal GDP measures the value of the goods and services an economy consumes. O Real GDP includes the value of exports, but nominal GDP does not.