ENGR.ECONOMIC ANALYSIS
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ISBN: 9780190931919
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Transcribed Image Text:If nominal GDP in 2014 is $20.000 billion while real GDP is $16,500 billion, then the GDP deflator in 2014 is
OA 125.
OB 121.2
QUESTION 27
0-150
OD 110.
OE 80.
Transcribed Image Text:QUESTION 28
In Country the adult population comprised of 200 people. 180 people are employed, and 5 people are unemployed What is the unemployment rate in country 27
OA 2.78%
OB 27%
Of 5%
00758
OF 25%
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- Potential GDP is ______$ Ss attachedarrow_forwardQUESTION 28 In year one, real GDP is $4,500 and in year two real GDP is $4,800. What was the growth rate of real GDP between years one and two? OA. -approximately 7% OB-6, 25% OC 93.75% OD. approximately 15% QUESTION 29 The agency responsible for compiling the National Income Product Accounts for the U.S. economy is the O A. Bureau of Econamic Analysis O B. National Bureau of Cconomic Research OC Bureau of Labor Statistics O D.Council of Economic Advisors QUESTION 30 Which of the following is an example of a final good or service? OA. Paint purchased by Ford, Inc. used to paint their new fleet of Mustangs. OB. Beef bought by a restaurant owner from a wholesale food distributor. OCA brand new economics text book purchased by a PGCC student. O Jet Fuel bought by Northwest Airlines to power its fleet of planes. QUESTION 31 Which of the following is true about real GDP? O A. IL is always equal to nominal GDP O B. IL increases only when price increases OCIL increases only when output…arrow_forwardWhat is the nominal GDP in year 2 in University Town? Good Quantityyr1 Priceyrı Quantityy2 Priceyr2 ఇాా Food 1000 2 1500 3 Housing 200 10 300 15 Clothing 500 1000 10 2800 11000 19000 28000 LOarrow_forward
- Solve this!!!arrow_forwardPersonal consumption expenditures $5,207 Interest 425 Corporate profits 735 Government spending 1,406 Depreciation 830 Rental income 146 Gross private domestic investment 1,116 Compensation of employees 4,426 Exports 870 Imports 965 Indirect business taxes 553 Proprietors' income 520 Personal taxes 886 Social Security taxes 432 Transfer payments 376 In Exhibit 15-7, disposable personal income (DI) is: a. $5,127 billion. b. $6,254 billion. c. $6,495 billion. d. $5,608 billion.arrow_forwardeco please help......arrow_forward
- The seasonally adjusted data below depict the performance of the economy of the United States in five quarters of 1953-1954. Year/Quarter 1953/Q4 1954/Q1 1954/02 1954/Q3 1954/04 Select one: OA. 1953/04. Annual Percent Change Nominal GDP OB. 1954/01 O C. 1954/02. O D. 1954/03. QE. 1954/04. -5.2 -0.6 0.8 5.1 9.2 Real GDP in the United States was lowest in which of the following quarters? Annual Percent Change Real GDP -5.9 -1.9 0.4 4.6 8.1arrow_forwardPRICE LEVEL 200 180 160 140 120 100 80 60 40 20 0 01 O Path B Path A O Path A LRAS 1₁ 2 3 4 5 6 7 8 REAL GDP (Trillions of dollars) SRAS₂ SRAS₁ AD2 AD1 9 10 ? PRICE LEVEL 200 180 160 140 120 100 80 60 40 20 0 01 Path B LRAS X ³ + 55 + 2 3 4 5 6 7 8 REAL GDP (Trillions of dollars) SRAS₂2 SRAS₁ AD2 AD1 9 10 Which path is the economy most likely to take if every worker in the economy behaves according to the theory of adaptive expectations? ?arrow_forwardYear Nominal GDP (in $billion) Real GDP (in $billion) GDP Deflator (2002 = 100) Population (in billion) Real GDP per Capita 2015 883 748 Select one: OA. $3,474 OB. $638 O C. $1,013 O. D. $1,876 E. $950 14,330 2016 948 120 52.8 2017 126 54 14,890 Refer to the information above to answer this question. What is the value of nominal GDP in 2017? Fil Timarrow_forward
- A final good or service is something that O retains no value when factored into the GDP O is not a component of another good or service O does not factor into the GDP is the component for a final productarrow_forwardTable 23.1: Vital Economic Statistics for An Earthly Economy Nominal RGDP Total GDP Price Population Year ($ Billion) Index (in Million) $5,000.00 119 130.00 $4,900.00 117 129.50 $4,950.00 114 129.20 $4,890.00 110 129.10 Refer to Table 23.1. Real GDP per person is about in Year 4. O $34,464.19 O $34,444.19 O $34,454.19 O $34,434.19 15arrow_forward
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