Suppose in a given year, GDP was $8,542 billion and the GDP chain price index for that year is 119.5. Real GDP is:

need help with this one.   Using the data in the table below related to nominal GDP and the chain-weighted price deflators for gross domestic product (e.g., price index for GDP), answer the following questions:

Suppose that nominal GDP was $9000000.00 in 2005 in Montgomery County Maryland. In 2015, nominal GDP was $11500000.00 in Montgomery County Maryland. The price level rose 2.00% between 2005 and 2015, and population growth was 3.50%. Calculate the following figures for Montgomery County Maryland between 2005 and 2015. Give all answers to two decimals. Please do fast . ASAP...fast

If the nominal gross domestic product (GDP) for a year is $5.4 trillion, and the real gross domestic product (GDP) for the same year is $3.6 trillion, the GDP price index is

It is the year 2020. Natalie purchases a home that was built in 2020. In GDP accounting, this purchase is included in   Question 40 options:   A)  personal consumption expenditures   B)  govenment purchases   C)  exports   D)  gross private domestic investment

The GDP price index in the United States in 2016 was about 106, and real GDP in 2016 was $17.7 trillion (2012 dollars). The GDP price index in the United States in 2019 was about 112, and real GDP in 2019 was $19.0 trillion (2012 dollars). Calculate nominal GDP in 2016 and in 2019 and the percentage increase in nominal GDP between 2016 and 2019. >>> Answer below to 1 decimal place. ..... Nominal GDP in 2016 is $ trillion. Nominal GDP in 2019 is $ trillion. The percentage ingrease in the nominal GDP between 2016 and 2019 is percent.

The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP(trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010.    The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010).$  trillion(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G         = $   trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)$  trillion(d) Use your answer from part (c) to…

Suppose nominal GDP was $13,302.3 billion in 2007 and was $13,790.2 billion in 2009. If the GDP deflator for 2009 (with a base year of 2007) was 103.034, what is the growth rate of real output between 2007 and 2009? Show your calculations, otherwise you will lose a lot of points..

If nominal GDP for 2017 is $62 trillion and real GDP for 2017 is $46 trillion, then the GDP deflator for 2017 is (Round your response to two decimal places.)

Real versus nominal GDP Consider a simple economy that produces two goods: stickers and paper plates. The following table shows the prices and quantities of the goods over a three-year period.   Year Stickers Paper plates Price Quantity Price Quantity (Dollars per sticker) (Number of stickers) (Dollars per paper plate) (Number of paper plates) 2020 3 260 2 160 2021 4 120 2 220 2022 3 155 2 140   Use the information from the preceding table to fill in the following table.   Year Nominal GDP Real GDP GDP Deflator (Dollars) (Base year 2020, dollars) 2020       2021       2022       From 2021 to 2022, nominal GDP DECREASED OR INCREASED , and real GDP  INCREASED OR DECREASED. The inflation rate in 2022 was  -13% or -.01% or 13% or 87% or 115%. Why is real GDP a more accurate measure of an economy's production than nominal GDP?   a. Real GDP is not influenced by price changes, but nominal GDP is.…