Macroeconomics
10th Edition
ISBN: 9780134896441
Author: ABEL, Andrew B., BERNANKE, Ben, CROUSHORE, Dean Darrell
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 8RQ
To determine
The more suitable measure out of the real
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is the GDP growth rate?
Compare the nominal GDP growth rates and the real GDP growth rates for 2015, 2016, and 2017. What do you conclude? Which of the two accurately measures the GDP and why?
Give five reasons why GDP is the most widely used measurement in determining economic growth and development? Explain your answer.
Chapter 2 Solutions
Macroeconomics
Ch. 2 - Prob. 1RQCh. 2 - Prob. 2RQCh. 2 - Prob. 3RQCh. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 9RQCh. 2 - Prob. 10RQ
Ch. 2 - Prob. 1NPCh. 2 - Prob. 2NPCh. 2 - Prob. 3NPCh. 2 - Prob. 4NPCh. 2 - Prob. 5NPCh. 2 - Prob. 6NPCh. 2 - Prob. 7NPCh. 2 - Prob. 8NPCh. 2 - Prob. 9NPCh. 2 - Prob. 1APCh. 2 - Prob. 2APCh. 2 - Prob. 3APCh. 2 - Prob. 1WWMDCh. 2 - Prob. 2WWMDCh. 2 - Prob. 3WWMDCh. 2 - Prob. 4WWMDCh. 2 - Prob. 5WWMDCh. 2 - Prob. 6WWMD
Knowledge Booster
Similar questions
- 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?arrow_forwardWhy is real GDP a better measure of economic growth than nominal GDP?arrow_forwardGDP per capita for the U.S. and Bhutan. How do they compare? What do the GDP per capita calculations indicate with respect to standards of living in each country? Now, research Gross National Happiness (GNH). Compare GNH in Bhutan to Bhutan’s GDP. Which measure do you think is the most useful measure in evaluating a nation’s standard of living?arrow_forward
- A country GDP is increasing however it's output remains the same in the several years. What can be be the reason behind this?arrow_forwardWhy do we measure economic growth using Real GDP rather than Nominal GDP?arrow_forwardHow has real GDP growth performed recently? Does it suggest the economy is growing close to potential (or the steady state rate of growth)?arrow_forward
- How is it calculated and what is the importance of the growth rate of GDP or GNP of Puerto Rico or of any country? Explain.arrow_forwardAs you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?arrow_forwardIf GDP is growing at an annual rate of 6%, in how many years will GDP double?arrow_forward
- An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534 billion. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number. growth rate:arrow_forwardBetween 2000 and 2017, real GDP per person grew, on average, 1% per year in the United States. Did this GDP growth benefit all Americans? What does this tell us about the limitations of GDP as a measure of living standards?arrow_forwardAnswer the question based on the table below. Year Nominal GDP (in millions) GDP Deflator Real GDP Real GDP Growth Rate Population DGP 1988 450 65 30000 1989 470 69 31000 1990 500 71 32000 1991 550 73 33000 What is the Real GDP growth rate in 1990? (round it to the nearest million) 5.1% 3.4% 6.3% 4.7%arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning