If you read in the newspaper that the United States’ 2015 real GDP declined while nominal GDP for 2015 grew, how could you explain this?

If U.S. government statistics counted education spending as part of the investment, which of the following would rise, which would fall, and which would remain unchanged? You might use rise, fall, and stay unchanged more than once each or you might not. Consumption Investment Gross domestic product

Ab 2

What are some example possible reasons for a decline in the level of potential GDP?

If all quantities produced rise by 10%, while all prices fall by 10%, what happens to real GDP? What happens to nominal GDP?

How does the decline in real personal income compare today with prior recessions?

Core chapter 1.2 will help with this question. Do not include the dollar sign in your answer. Fruitland has a very simple economy: it produces just apples and oranges. It has no imports and exports Apples Oranges 100 Quantity in year 1 Price in year 1 Quantity in year 2 Price in year 2 50 $1.00 $0.80 80 120 $1.25 $1.60 Using the table above, what was Fruitland's nominal GDP in year 1? Answer:

The answer should be typed.

Classify each of the following as IN Africa's 2020 GDP or NOT IN Africa's 2020 GDP. Cars produced in 2019 but sold in 2020:  IN Africa's 2020 GDP,NOT IN Africa's 2020 GDP Cars produced in 2020 but sold in 2021:  IN Africa 2020 GDP, NOT IN Africa 2020 GDP Used cars sold in 2020:  IN Africa 2020 GDP, NOT IN Africa 2020 GDP Crude oil (used in the production of gasoline) produced in 2020:  IN Africa 2020 GDP, NOT IN Africa 2020 GDP Oil produced by an Australian company in Africa in 2020 (and sold to consumers):  IN Africa 2020 GDP, NOT IN Africa 2020 GDP Oil produced by Africa-owned companies outside of Africa (and sold to consumers) in 2020:  IN Africa 2020 GDP, NOT IN Africa 2020 GDP

Refer to the table below for a very simple economy producing three goods: movies, pizzas and cars. Steel panels are needed for car production, cheese is necessary for making pizzas and CGI service is used for movie production.   What is the nominal GDP for the economy in 2021? What was the nominal GDP in 2016? What is the real GDP in 2021 using 2016 prices as base year prices? What is the real GDP growth rate between 2016 and 2021?