Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
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Chapter 2.2, Problem 22E
To determine
Illustrate the figure of the top 10 countries and the amount of oil exported to Country U.S.
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The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018
Item
Price 2017
Price 2018
Production
Price per unit
Production
Price per unit
Rice (000tons)
50000
1.5
55000
2
Wheat (000 tons)
100000
2
98000
2.5
Tractor mid size( units )
50000
23000
45000
24500
Cotton (000 tons)
120000
100
110000
120
Used Cars (00)
5000
5000
6000
7000
Manufacture Garments (000 tons)
150000
50
145000
70
Eggs (000 trays)
2000
2.5
2300
3.5
Coca cola (000litres)
6000
0.8
6500
1.2
Pepsi cola (000 litres)
700
1.1
850
1.5
Beef (000 tons)
5000
6.5
4800
8.5
Second hand clothes (000 tons)
500
15
450
25
Alcoholic Beverages (000 litres)
500
3.25
600
3.75
Milk (000)
7000
2.3
7500
2.5
Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to…
The table below is extracted from HappylandRepublic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.
Items
Base year 2019
2020
Production
Price
Production
Price
Used cloth (units)
4,000
50.00
5,000
60.00
Components used tractor factory production (units)
8,000
500.00
11,000
1,200.00
Cloth (units)
8,000
25.00
12,000
30.00
Beef gifts during cultural festival (Kg)
1,500
2.00
1,700
3.00
Milk (litres)
5,000
1.30
7,000
2.50
Computers (Units)
2,000
500.00
2,500
600.00
Printers (Units)
500
300.00
400
355.00
Raw materials for car assembling plant (Units)
4,500
250.00
4,450
300.00
1. Calculate HappylandRepublic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year.
2. Double counting must be avoided when measuring GDP. State and examine…
Can you help me with this please? It’d be great if you can graph it out. I’m a visual learner.
Chapter 2 Solutions
Statistics for Management and Economics (Book Only)
Ch. 2.1 - Prob. 1ECh. 2.1 - Prob. 2ECh. 2.1 - Prob. 3ECh. 2.1 - Prob. 4ECh. 2.1 - Prob. 5ECh. 2.1 - Prob. 6ECh. 2.1 - Prob. 7ECh. 2.1 - Prob. 8ECh. 2.1 - Prob. 9ECh. 2.1 - Prob. 10E
Ch. 2.1 - Prob. 11ECh. 2.1 - Prob. 12ECh. 2.2 - Prob. 13ECh. 2.2 - Prob. 14ECh. 2.2 - Prob. 15ECh. 2.2 - Prob. 16ECh. 2.2 - Prob. 17ECh. 2.2 - Prob. 18ECh. 2.2 - Prob. 19ECh. 2.2 - Prob. 20ECh. 2.2 - Prob. 21ECh. 2.2 - Prob. 22ECh. 2.2 - Prob. 23ECh. 2.2 - Prob. 24ECh. 2.2 - Prob. 25ECh. 2.2 - Prob. 26ECh. 2.2 - Prob. 27ECh. 2.2 - Prob. 28ECh. 2.2 - Prob. 29ECh. 2.2 - Prob. 30ECh. 2.2 - Prob. 31ECh. 2.2 - Prob. 32ECh. 2.2 - Prob. 33ECh. 2.2 - Prob. 34ECh. 2.2 - Prob. 35ECh. 2.2 - Prob. 36ECh. 2.2 - Prob. 37ECh. 2.2 - Prob. 38ECh. 2.2 - Prob. 39ECh. 2.2 - Prob. 40ECh. 2.3 - Prob. 41ECh. 2.3 - Prob. 42ECh. 2.3 - Prob. 43ECh. 2.3 - Prob. 44ECh. 2.3 - Prob. 45ECh. 2.3 - Prob. 46ECh. 2.3 - Prob. 47ECh. 2.3 - Prob. 48ECh. 2.3 - Prob. 49ECh. 2.3 - Prob. 50ECh. 2.3 - Prob. 51ECh. 2.3 - Prob. 52ECh. 2.3 - Prob. 53ECh. 2.3 - Prob. 54ECh. 2 - Prob. 55CECh. 2 - Prob. 56CECh. 2 - Prob. 57CECh. 2 - Prob. 58CECh. 2 - Prob. 59CECh. 2 - Prob. 60CECh. 2 - Prob. 61CECh. 2 - Prob. 62CECh. 2 - Prob. 63CECh. 2 - Prob. 64CECh. 2 - Prob. 65CECh. 2 - Prob. 66CECh. 2 - Prob. 67CECh. 2 - Prob. 68CECh. 2 - Prob. 69CECh. 2 - Prob. 70CECh. 2 - Prob. 71CECh. 2 - Prob. 72CECh. 2 - Prob. 73CECh. 2 - Prob. 74CECh. 2 - Prob. 75CECh. 2 - Prob. 76CECh. 2 - Prob. 77CECh. 2 - Prob. 78CE
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