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- Given the following output for the economy of Scoob calculate the nominal GDP in 2020 in $. Applet Widgets Gismo Quantity Price Quantity Price Year Price Quantity $5 2019 $100 $10 10 $4 $12 2020 $110 OA 225 O B. 250 OC 200 O D. none of the aboveGiven 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 aboveThe four categories of income in the economy are: wages, rent, interest, profit O consumption, investment, government spending, net cxports O consumption, saving, taxcs, government spending O labor, land, capital. tcchnology
- Identify each of the following as nominal or real variables.a. the physical output of goods and servicesb. the overall price levelc. the dollar price of applesd. the price of apples relative to the price of orangese. the unemployment ratef. the amount that shows up on your paycheck after taxesg. the amount of goods you can purchase with the wage you get each hourh. the taxes that you pay the governmentConsumer price index, based on a problem from “Principles of Economics” byN. Gregory Mankiw Question 3) Wen is a typical consumer. Wen spent a total of $10 on 10 pomegranates, $36 on 3 shawarmas,and $35 on 7 cups of coffee in August. In September, Wen spent a total of $18 on 12 pomegranates, $24on 2 shawarmas, and $42 on 7 cups of coffee. In October, Wen spent a total of $22 on 11 pomegranates,$33 on 3 shawarmas, and $32 on 4 cups of coffee. a) Calculate the price of one unit of each good in each month.b) Using August as base month, calculate the CPI for each month.c) Find the inflation rate for September and October.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
- Which of the following does not contribute to determining the potential GDP? a. The price level O b. The capital stock O c. Current technology O d. The size of the labor forceK Lori is a student who teaches golf on Saturdays. In a year she earns $20,000 after paying her taxes. At the beginning of 2021, Lori owned $3,500 worth of books, clothes, and golf clubs and she had $5,000 in a savings account at the bank. During 2021, the interest on her savings account was $150 and she spent a total of $10,000 on consumption goods and services. There was no change in the market values of her books, clothes, and golf clubs. How much did Lori save in 2021? What was her wealth at the end of 2021? In 2021, Lori saved $Practice 2 Sovyl Consider the following data on the X-product: 50 GDP deflator year price of X quantity of X Nominal GDP (base year 2005) 2010 $11.50 105,000 125 2011 $11.96 106,000 130 a) What was the growth rate of nominal GDP between 2010 and 2011? b) What was the growth rate of the GDP deflator between 2010 and 2011? c) What was real GDP in 2010 measured in 2005 price? d) What was real GDP in 2011 measured in 2005 price?
- Year 2020 2021 2022 NUMAT GUT (Dollars) 200 400 800 % ncai gur % (Dollars) 200 From 2020 to 2021, 200 400 Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2021 and 2022 from the preceding year. GDP Deflator Percentage Change In... Year Nominal GDP Real GDP GDP Deflator 2021 2022 % 100 % 200 200 % % did not change; and from 2021 to 2022, Comparing the changes in 2021 and 2022, economic well-being increased more in did not change.Course dashboard Which of the following is included in both the U.S. GDP and GNP? (Toyota and Nissan are Japanese brands and Ford and General Motor are US brands). Lütfen birini seçin: O A. The value of all cars produced by Toyota in the U.S. O B. The value of cars produced by Nissan in the U.S. OC The value of cars produced by Nissan in Japan and the U.S. OD The value of all cars produced by Ford in Mexico. OE The value of all cars produced by General Motors in the U.S. Refer to the information provided in Table 21.10 below to answer the question that follow37. Which of the following transactions would be included in GDP for 2001? O O O O A. On January 5, 2001, Chris Carter sold 100 shares of stock in IBM Corporation. B. Bonita Delgado purchases a new 2001 Oldsmobile on March 10, 2001. C. Nadav Daniel buys a used desk from the "Struggling Students Used Furniture" store on May 9, 2001. D. Levi Lathan purchases a 75-year-old penthouse on Lake Shore Drive in Chicago, Illinois, on June 23, 2001.
