A hypothetical country of Lahland produces only movies and popcorn. Quantities andprices of these goods for the last several years are shown below. The base year is 2009.Prices and QuantitiesYearPrice ofQuantity ofPrice ofQuantity ofD.MoviesMoviesPopcornPopcornTab2009$11.00500$4900pres2010$12.00600$51000What was this country's GDP deflator in 2010?ExpConsSelect one:Da.150RefertheOb 77.8A 17128.6Od. 100MG 20Type here to search.

For 2010:Nominal GDP =(Prices of movie*quantity of movies) of 2010 + (Prices of popcorn*quantity of…

A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2009. Prices and Quantities Year Price of Quantity of Price of Quantity of Movies Movies Popcorn Popcorn 2009 $11.00 500 $4 900 2010 $12.00 600 $5 1000 What was this country's GDP deflator in 2010? Select one: a. 150 Ob 77.8 128.6 Pd. 100

A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2009. Prices and Quantities Year Price of Quantity of Price of Quantity of Movies Movies Popcorn Popcorn 2009 $11.00 500 $4 900 2010 $12.00 600 $5 1000 What was this country's GDP deflator in 2010? Select one: a. 150 Ob 77.8 128.6 Pd. 100

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Which of the following transactions would be included in GDP?There are 2 correct answers.1. $50 cash gift you gave to your friend in a given year.2. This month, you bought $1,500 worth of stocks in Facebook (whose headquarters are located in Menlo, CA).3. This year, Sara received $600 stimulus check from the government.4. You paid $20 for a haircut in Tustin, CA this week.5. This year, Peter bought a 10-year-old home in Pasadena, CA.6. Social security benefits sent to a retired worker in a given year.7. U.S. Unemployment benefts received this year by a newly laid-off workers.8. A check for $250 send by a parent to a son at a college in California.9. A check for $250 send by a parent to a son at a college in Canada.10. Häagen-Dazs, an American company, purchases milk to produce ice cream thisyear.11. BTS is performing in Las Vegas, Nevada this year. You purchased BTS's concerttickets for next month.
Calculate NNP at FC and personal income in the question below. GDP at FC 400 Income from domestic product accruing to private sector 300 Net transfer from government 50 Net indirect taxes 75 NFIA -25 Undistributed profits 20 corporate taxes 15 Consumption of capital 45
None
8
The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2010 132 69 2009 120 Quantity of fish Quantity of watches Price of fish 60 $8.00 $9.20 Price of watches $30.00 $31.50 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices GDP for 2010 in 2010's prices Using 2009 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. Using 2010 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. The geometric average of the two inflation rates $ 69 % % %
In the year 2023, the economy produces 100 loaves of bread that sell for $2 each. Calculate the nominal GDP, real GDP, and the GDP deflator for each year. (Use 2023 as the base year.) By what percentage does each of these three statistics rise from one year to the next?
The country of Old Jersey produces milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon. Year 1 Year 2 Good Quantity Price Quantity Price Milk 500 $2 900 $3 Butter 2000 $1 3000 $2 Between Year 1 and Year 2, the GDP deflator (based on Year 1 as a base year) rose Select one: a. 123.00%. b. 83.33%. c. 60.00%. d. 81.25%.
The participation of women in the U.S. labor force has risen dramatically since 1970. How do you this this rise affected GDP? Now imagine a measure of well-being that includes time spent working in the home and taking leisure. How would the change in this measure of well-being compare to the change in GDP? Can you think of other aspects of well-being that are associated with the rise in women’s labor-force participation? Would it be practical to construct a measure of well-being that includes these aspects?
Assume that apples cost $0.50 in 2002 and $1 in 2007, whereas oranges cost $1 in 2002 and $1.50in 2007. 4 apples were produced in 2002 and 5 in 2007, whereas 3 oranges were produced in 2002and 5 in 2007. Calculate the GDP deflator in 2007, using 2002 as the base year
Ben is a farmer who grows oranges. In the current year Ben produces oranges valued at $54,087, half of which he sells directly to consumers, and half of which he sells to Tropicana to make orange juice. Tropicana produces orange juice and sells it to consumers for $84,605. What is the value of GDP in this simple economy? Enter a whole number with no commas and no dollar sign, such as 1876.