Refer to the table to answer two questions. Changes in Real GDP Growth When the GDP growth rate decreases by one percentage point 1. Government spending (G) automatically increases for Unemployment insurance benefits Food stamps. Welfare benefits Social Security benefits. Medicaid 2. Government tax revenues (T) automatically decline for Individual income taxes. Corporate income taxes. Social Security payroll taxes. 3. The deficit increases by $67 billion. Changes in Inflation When the inflation rate increases by one percentage point 1. Government spending (G) automatically increases for Indexed retirement and Social Security benefits Higher interest payments 2. Government tax revenues (T) automatically increase for Corporate income taxes Social Security payroll taxes. 3. The deficit increases by $40 billion. 14 What would happen to the budget deficit if the Instructions: Enter your responses as a whole number. a. GDP growth rate jumped from 2 percent to 4 percent? The budget deficit would [(Click to select) by $1 b. inflation rate increased by two percentage points? The budget deficit would (Click to select) by $ billion. billion.

For each item shown below, identify whether it increases or decreased during a recession.   a. GDP   b. consumer spending   c. retail sales   d. home sales   e. employment

GDP in the U.S. in 2000 was $10.1 trillion dollars and GDP in 2008 was $14.3 trillion. The CPI in 2000 was 172.2 and the CPI in 2008 was 215.3 (The CPI in 2009 was 214.5) What was Real GDP in 2008 (in 2009 $)? $14.25 trillion $11.48 trillion $17.81 trillion $14.35 trillion Question 30 (S What was the economic growth rate between 2000 and 2008? Growth rate= RGDP (2)-RGDP (1) 100 RGDP (1) A

Question 2 Based on the information in the table, the 2021 growth rate is Year Real GDP 2020 $2,545 billion 2021 $2,675 billion 4.8% 4.0% 24.8% 5.1% Price Index 120.00 124.80

suppose a small economy produces only smart TVs. in year one, 10,000 TVs are produced and sold at a price of $1,000 each. in year two, 10,000 TVs are produced and sold at a price of $1,500 each. As a result, ____ real GDP increased. ____ real GDP decreased. ____ real GDP stayed the same. ____ nominal GDP stayed the same.

Scenario 1: An increase in the unemployment rate to 7.4% has occurred. Inflation has increased causing a decline in consumer spending. Exports have declined by more than $4 billion. This has caused a decrease in GDP by 3.7%.

Write brief notes on the economic ideas of the following:1. James Tobin2. Andre Gunder Frank3. Supply-siders4. New classical

Which of the following is a sign of a strong economy A. An increase in GDP B. A shrinking economy C. An increase in unemployment D. A decrease in spending power

21 Macroeconomic Information for Mexico: 2020 Q2 GDP (in 2020 Q2 pesos) 4.97 trillion pesos 2020 Q1 GDP (in 2020 Q1 pesos) 6.09 trillion pesos 2020 Q2 GDP (in 2015 pesos) 3.76 trillion pesos 2020 Q1 GDP (in 2015 pesos) 4.54 trillion pesos   Calculate Mexico's inflation, using the GDP deflator method, between the first and second quarters of 2020.   (Enter your answer in percent form, rounded to one decimal place, without the percent sign.  For example, if your answer is 0.12345, enter 12.3.)

Discuss how policymakers use national income data to make decisions about taxes, spending, and other economic policies.