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$408,935Can not be determined with the information providedTable 1-Nominal GDP and Real GDPNominalRealGDPYearGDPGDPPopulationDeflator19976,2406,5002339619986,8877,1002399719997,7917,9502429820008,7508,75025010020018,4158,25025610220029,450 9,000264105200310,746 9,950275108200412,09610,800286112200513,80411,900291116200614,7353001202007 (est.)16,875 13,500310125GDP Figures in BillionsPopulation Figures in Millions

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Answered: Using the figures provided in Table 1,…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 13RQ: Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what...

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Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
What are the two main difficulties that arise in comparing different comparing GDP?
What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?
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?
What are the main components of measuring GDP with what is demanded?
Gross Domestic Product The U.S. gross domesticproduct (GDP) (in trillions of dollars) for selectedyears from 2005 and projected to 2070 can be modeled by y = 0.116x2-3.792x + 45.330, where xis the number of years after 2000. During what yearsbetween 2005 and 2070 was the gross domestic product no more than $23.03 trillion?
1. Referring to the figures below, 1.0 gdp-gth 80 BPERMITS-YOY 0.8 60 0.6 - 0.4 40 0.2 20 0.0 -0.2 -20- -0.4 -0.6 -40 rel. vol. = 9.4 --0.8 -60 -1.0 1970 2000 2010 1960 1980 1990 2020 -8 -6 -4 -2 2 4 6. 8. TIME (year) LAG (quarters) Source: FRED/BEA characterize the relationship between the growth rate of GDP and the growth rate of building permits (BPERMITS-YoY) in terms of the following items: • Timing. • Direction. • Volatility. Include a brief description of each item in this list in your characterization. RATE (%/year) CROSS CORRELATION
Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.
The seasonally adjusted data below depict the performance of the economy of the United States in five quarters of 1948-1949. Year/Quarter 1948/Q4 1949/Q1 1949/Q2 1949/Q3 1949/Q4 Time left 0:44:23 Select one: OA 1948/Q4. OB. 1949/Q1. OC 1949/02 OD 1949/Q3 19/04 Annual Percent Change Nominal GDP 1.7 -7.4 -5.2 2.3 -3.3 Annual Percent Change Real GDP The inflation rate in the United States was highest in which of the following quarters? 0.5 -5.4 -1.4 4.2 -3.3
During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: a. $64,000 O b. $68,000 O C. $48,000 O d. $52,000
Given the following income data, please answer the questions below: Real GDPConsumption IgGovernmentExportsImports$ 80000$120000$7000 $18000$6000$11000$160000$180000$7000 $18000$6000$ 11000$240000$240000$7000 $18000$6000$11000$320000$300000$7000 $18000$6000$11000$400000$360000$ 7000 $18000$6000$11000 a. Solve for net exports in each row.b. Solve for aggregate expenditures (AE) in each row.c . State the value for the equilibrium GDP. d. If imports were to increase by $40000 so they are now equal to $51000. solve for net exports again.e. With this new export value, solve for aggregate expenditures in each row.f. State the value for the new equilibrium GDP.g. Solve for the multiplier (you can solve for either the actual or simple multiplier).
Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR):Wages and Salaries: R2,500Interest: R300Rent: R200Profits: R1,000Taxes (Indirect Taxes Minus Subsidies): R400Depreciation: R500Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may beused?A. Expenditure approachB. Income approachC. Product approachD. Trade approach

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