The following table gives nominal GDP, real GDP, and the population for two years. Find per capita real GDP in each year and fill in the table. (Round your answers to two decimal places.) Year Nominal GDP Real GDP Population Per Capita Real GDP 2010 7,800 7091 100 2011 8,190 7000 106 The growth rate of real GDP between 2010 and 2011 was %, and the growth rate of per capita real GDP was %. (Round your answers to two decimal places

Use the following data to answer this question. a. Calculate real GDP in 2006, 2008, & 2010 in 2005 dollars. b. What was the percent change in real GDP between 2006 and 2008? What was the percent change between 2008 and 2010?

Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic product (NGDP) when measuring the economic growth of a country? Why is real GDP considered more relevant than the other?

Question 2   Why the use real GDP is preferred by economists over nominal GDP to gauge economic well-being? (Word count: 100 words max.)   Consider the following data on the Pakistan economy: Nominal GDP GDP Deflator  Year (in billions of rupees) (base year 2012) 2018 21,501 111.4  1998    9,163    76.3   What was the growth rate of nominal GDP between 1998 and 2018? (Hint: The growth rate of a variable X over an N-year period is calculated as [(Xfinal/Xinitial)1/N – 1] x 100). What was the growth rate of the GDP deflator between 1998 and 2018? What was real GDP in 1998 measured in 2012 prices? What was real GDP in 2018 measured in 2012 prices? What was the growth rate of real GDP between 1998 and 2018? Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.

The table below shows nominal and real GDP figures for a hypothetical economy. Note that 2022 is the reference year. Nominal GDP (current $ billions) 203.76 Year 2021 2022 2023 2024 2025 220.9 231.8 243,9 2464 GDP Deflator 97.467 100 101.340 105.448 Real GDP (2022 $billions) 198.6 220.9 228.73 236.9 246.4 4 Fill in the table, writing out billions of dollars to the first decimal e.g. $1.0 billion and the GDP deflator to three decimal places e.g. 100,000.

Using the figures provided in Table 1, what is Real Per Capita GDP, to the nearest whole dollar, for 2005? 40.9% $4,089.3 $40,894 $408,935 Can not be determined with the information provided Table 1-Nominal GDP and Real GDP Nominal Real GDP Year GDP GDP Population Deflator 1997 6,240 6,500 233 96 1998 6,887 7,100 239 97 1999 7,791 7,950 242 98 2000 8,750 8,750 250 100 2001 8,415 8,250 256 102 2002 9,450 9,000 264 105 2003 10,746 9,950 275 108 2004 12,096 10,800 286 112 2005 13,804 11,900 291 116 2006 14,735 300 120 2007 (est.) 16,875 13,500 310 125 GDP Figures in Billions Population Figures in Millions

please answer the following, #1 a,b,c. I have attached an image of the question for better format. Thanks! The following questions can be answered by using data from Statistics Canada (Please indicate your data source or show the website link). What are the nominal and real GDP for Alberta and Canada for the years 2019 and 2020? Calculate real GDP per capita for Alberta and Canada for the years 2019 and Calculate the annual economic growth rate for the year 2020 for Alberta and Canada. https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610022201

A small economy only produces two goods: steak and potatoes. This information is shown in the table. Based on the table, if year 1 is the base year, the growth rate of real GDP is: Good Steak Potato 6.6%. 8.0%. 9.4%. 10.8%. Year 1 Price $15 $1 Quantity 1,000 50,000 Year 2 Price $20.00 $0.50 Quantity 800 60,000

This question pertains to correctly calculating total investment as a percent of GDP for a country across multiple years with different amounts of investment per year and different GDPs per year. I've seen 2 methods to calculate the total investment as a percent of GDP for 1 country. First, for each year, calculate investment as a percent of GDP for each year then sum those percentages. Second, sum all investments and sum all GDP across years and then divide sum of investments over sum of GDP. What is the correct method to calculate total investments across multiple years for 1 country when each year has a different GDP?

Suppose nominal GDP in 2018 was $180,000,000 and in 2019 it was $185,000,000. The GDP price index in 2018 was 150 and in 2019 it was 153. The population in 2018 was 2,580 and in 2019 it was 2,600. Calculate Real GDP and Real GDP per capita in each year. Calculate the growth rates of Nominal GDP, Real GDP, and Real GDP per capita. Describe why the growth rates so different?