If the growth rate using 2015 as a base year is 3, and the growth rate using 2020 as a base year is -6. Using the new procedure of the Bureau of Economic Analysis (BEA). what is the growth rate in the real GDP? Answer:

1. The following table shows Spain's (awalizr) quarterly real GDP growth rates for the 2007–2012 period. (Roman numbers refer to quarters.) Variable 2007 2007 2007 2007 2008 2008 I II III IV I II Real GDP 7.6 7.3 6.5 6.4 5.6 4.6 Variable 2008 2008 2009 2009 2009 2009 III IV I II III IV Real GDP 3.1 0.5 -0.1 -4.1 -4.5 -3.3 Variable 2010 2010 2010 2010 2011 2011 I II III IV I II Real GDP -1.5 -0.2 0.0 0.4 0.5 0.5 Variable 2011 2011 2012 2012 2012 2012 III IV II III IV Real GDP 0.6 0.0 -0.7 -1.4 -1.6 -1.9 а) Plot real GDP growth rate in a graph, and identify a trend in the data. b) Based on the data shown, identify the beginning (i.e., the year and the quarter) of the current recession. 2. Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.

Suppose the u.s. nominal GDP increases from one year to the next year. Can you conclude that these figures present a misleading measure of economic growth?

In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in U.S. dollars). India was also one of the world’s fastest-growing economies, with an annual growth rate of real GDP of 7.3%. a. If the country maintains the same growth rate, how many years will it take for India’s GDP to double? b. Bangladesh’s GDP was $286.27 billion, but its growth rate was equal to India’s. How many years will it take for Bangladesh’s economy to double? c. Although Bangladesh and India have the same annual growth rate, their economies are much different in size. How can you explain the size difference to someone who is unfamiliar with scaling large numbers? Which strategies would you use?