Provide a table with the nominal GDP for your assigned the Dominican Republic for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.
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Provide a table with the nominal GDP for your assigned the Dominican Republic for
2020 and 2021. Using only the nominal GDP, what do you know about
(i) Changes in the level of output during this period? Explain
(ii) Changes in prices during this period? Explain.
(iii) Would your answer change if you were using Real GDP? Explain.
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- U.S. macroeconomic data are among the best in the world. Given what you learned in the Clear It Up "How do statisticians measure GDP?", does this surprise you, or does this simply reflect the complexity of a modern economy? Suppose GDP was modified to include the value - positive or negative - of changes in environmental quality. How could this be done accurately?Provide a table with the nominal GDP for Belize for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain. (c) Fill in the missing values in the table of data collected in the household survey. The working-age population, employment, unemployment, and labor force are measured.(b) Provide a table with the nominal GDP for your assigned Caribbean country for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain. (c) Fill in the missing values in the table of data collected in the household survey. The working-age population, employment, unemployment, and labor force are measured in thousands. Show ALL your work. Working-age population 235,900 Employment Unemployment Unemployment rate 9.4% Labor force Labor force participation rate 65.5%
- Provide a table with the nominal GDP for Trinidad and Tobago for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should A. Ignore the $ 4 trillion because exports have already been included in the $ 24 trillion B. Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US C. None of the above D. Subtract $4 trillion from $24 trillion because imports are not part of US domestic outputHow useful is GDP as a measure for countries' well-being and why? What other measures could be included in comparing well-being across countries? If you were to design an index to measure well-being in a country, what factors would you include in the index?
- which of the below statements about the U.S. GDP do you think is INCORRECT? Group of answer choices India has a GDP that is many times the size of the GDP of Israel. Yet, of the two, Israel is considered to be the richer economy because it has a higher per capita income. GDP may give us a measure of economic prosperity, but it is at best an imperfect measure, since it does not indicate the level of happiness, leisure, literacy, life expentancy, environmental preservation, or other such factors that may improve the quality of human life. China achieved its rapid rate of GDP growth in the 21st century with little, if any, environmental depletion or pollution.(b) Provide a table with the nominal GDP for the Barbados for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain. (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.The participation of women in the Gambian labor force has risen dramatically since 2000. How do you think 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?
- When thinking about the GDP on a global basis, two concerns become immediately obvious. When comparing GDPs, is it possible to take these things into account, and if so, what precisely are they?Hey, I need help with the following problem divided into seven smaller parts: Calculate nominal GDP for 2011 and 2012. Using 2011 as the base year, calculate real GDP for 2011 and 2012. Based on your answer from part (b), by what percentage did real GDP grow between 2011 and 2012? Now, calculate real GDP for 2011 and 2012 using 2012 as the base year. Based on your answer from part (d), by what percentage did real GDP grow between 2011 and 2012? Using 2011 as the base year, what was the GDP deflator in 2011 and 2012? Based on your answer from part (f), by what percentage did prices change between 2011 and 2012? Thank you in advance!Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?