Which of the following indicators is used to measure the overall level of prices for goods and services in an economy over a period of time? Options: A) Gross Domestic Product (GDP) B) Consumer Price Index ( CPI) C) Unemployment rate D) Balance of trade

Consider an economy producing the following products: bread and cars. Use the information provided in the following table to answer the question below:   Product     Quantity Base Year Price   (2012) Price   (2019)      Price    (2020)      Bread 1000 $20.00 $22 $24 Cars 2000 $8.00 $10 $12     Refer to the table above to answer the questions below: a) Compute the consumer Price Index for years 2019 and 2020 using 2012 as the base year and the consumption basket that consist of 1000 bread and 2000 cars. You will need to round your answer to the nearest whole number. b) Compute the Inflation rate for 2020

You are discussing economic growth and the economic cycle with a group of colleagues in an effort to forecast the growth in an economy that is demonstrating an increase in investment, rising employment, and growing business confidence with slowly rising prices. Your discussion has encompassed the distinction between GDP and GNP and the importance of leading indicators for forecasting purposes. Based on this information, answer the following three questions. In national income accounting, what is the difference between gross domestic product (GDP) and gross national product (GNP)? GNP equals GDP plus domestic production/earnings by foreign companies/citizens ,minus foreign production/earnings by domestic companies/citizens GNP equals GDP plus foreign production/earnings by domestic companies/citizens, minus domestic production/earnings by foreign companies/citizens GNP equals GDP plus imports minus exports GNP equals GDP minus government spending minus exports plus imports.

According to the Bureau of Economic Analysis, the GDP Deflator for the 3rd Quarter 2021 is +5.7%. The U.S. Bureau of Labor Statistics reported the Consumer Price Index (CPI) as rising 5.4 percent over the last 12 months, not seasonally adjusted. Given this information:  1) Interpret these data and summarize its meaning.  2) What are these data measuring?  3) If you were a business economist, which would you use and why?

The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions.                   2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars.  *Results round to the nearest dollar.    2010 per capita spending:     2020 per capita spending:       2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020              3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively.  *Results round to the nearest 2 decimal places.  2010 spending-to-GDP ratio:     2020 spending-to-GDP ratio:     Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend.        4. Assuming City A’s population grows at a constant rate in the next decade.…

For the following question , please indicate whether current GDP of the United States will be affected and, if so, by how much .In each case, indicate also which component(s) of GDP will be affected and by how much   In August 2020 Marie received unemployment benefits for $4,000 and, in May, she received her $1,400 Economic Impact Payment (i.e. coronavirus stimulus check) from the IRS (the tax authority in the US).