Year GDP GDP deflator Population 1998 500 100 200 million 1999 800 160 210 million Vhich statement is true? Vhich statement is true? Multiple Choice Real GDP rose by 60 percent. Real GDP rose more quickly than GDP. Real GDP and GDP rose at the same rate. Real GDP did not rise.

How do economists use GDP Per Capita data? standard of livingtotal dollar value of all final goods and servicesnet exportsnational income

Consider an economy that produces only computers. The quantity of computers and the price of computers in four successive years are given in the table. A. Calculate the Nominal GDP and Real GDP. What trends do you observe? Show all your calculations. B. Calculate the growth rate of nominal GDP for 2015, 2016, and 2017. Round your answers to one decimal place. What trends do you observe? C. Calculate the growth rate of real GDP for 2015, 2016, and 2017. Round your answers to one decimal place. What trends do you observe? Thank you soso much!! :)

Goodland

The UK GDP per capita measures: Select one or more: a. the total output of London’s economy. b. the average disposable income of a UK national. c. the total output of the UK nationals, divided by the number of the nationals. d. the total output of the UK’s economy, divided by the country’s population.

Real GDP is a. the nominal value of all real goods produced in the nation in year. b. Nominal GDP corrected for changes in the average of overall prices. c. a misnomer since all GDP figures have to be in dollar values. d. the value of output in current dollars.

investories are included in GDP because a. they are considered government spending b. they will depricate c. they are value added to final goods d. they were produced and are sold in their final form

A farmer grows a bushelof wheat and sells it to a miller for $1.00. The miller turns the wheat into flour and sells it to a baker for $3.00. The bakeruses the flour to make a loaf of bread and sells it to an engineer for $6.00. The engineereats the bread. Compute: a. value added at each stage of production b. GDP

An economy produces only food and fun. The table shows the quantities produced and prices in 2018 and 2019. If the base year is 2018, compare the growth rates of nominal GDP and real GDP in 2019. Question Help >>> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. In 2018 Item Quantity Price The growth rate of nominal GDP in 2019 is percent. Food 97 $2 Fun 51 $2 In 2019 Item Quantity Price Food 71 $4 Fun 67 $10 Enter your answer in the answer box and then click Check Answer. Check Answer Clear All 1 part remaining MacBook Air DD DII F11 F10 F9 F8 F7 80 F6 F5 F4 F3 F2 esc F1 & @ 7 8. ! 4 5 2 { 1 P Y E T %24 # 3

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