Consider the following data for a particular country. Real GDP per capita, Year 1 $50,000 Population, Year 1 and Year 2 400 million Inflation Rate 4 percent Growth Rate of Real GDP, Year 1 to Year 2 9 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? $ b. What is real GDP in year 2? $ trillion

Consider the following data for a particular country. Real GDP per capita, Year 1 $50,000 Population, Year 1 and Year 2 400 million Inflation Rate 4 percent Growth Rate of Real GDP, Year 1 to Year 2 9 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? $ b. What is real GDP in year 2? $ trillion

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter32: Macroeconomic Policy Around The World

Section: Chapter Questions

Problem 30P: Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/...

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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.
Connect Problem CP 28-09 (algo) Consider the following data for a particular country. Real GDP per Capita, Year 1 Population, Year 1 and Year 2 $37,500 400 million Growth Rate of Real GDP, Year 1 to Year 2 6 percent Inflation Rate 4 percent Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is real GDP per capita in year 2? $ b. What is real GDP in year 2? trillion
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: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (1) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (2) 2 400 Depreciation 700 Foreign payment to the rest of the 300 world Foreign payment from the rest of the 250 world Show all calculations and formulae. Q.7.2.1 Calculate the value of the country's GDE (Gross Domestic Expenditure). Q.7.2.2 Compute the value for the country's GDP (Gross Domestic Product) at market price. Q.7.2.3 Determine the value of the country's NNI (Net National Income) at market price. Q.7.2.4 Ifit is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020. Q.7.2.5 The 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 tables below show data for two island nations, Arturia and Ringberg. Arturia Year 1 2 Nominal GDP Population GDP $100 $240 Deflator 100 120 20 25 (a) Calculate each of the following for Year 2. Show your work. (i) Real GDP per capita for Arturia (ii) Real GDP per capita for Ringberg Ringberg (c) Calculate each of the following in Year 2. Show your work. (i) The inflation rate in Arturia (ii) The inflation rate in Ringberg Year 1 2 Nominal GDP Population GDP $200 $300 Deflator 100 150 25 25 (b) If Arturia and Ringberg have the same velocity of money in Year 2, which nation must have the higher money supply in Year 2? Explain. (d) Based on your answer to part (c), if the nominal interest rate is the same for both nations in Year 2, which nation experiences the higher real interest rate in Year 2? Explain. (e) Ringberg produces consumer goods and capital goods. While maintaining full employment, Ringberg decides to allocate more resources to the production of consumer goods. What will…
Consider below information about Jacaranda Economy and answer the question that follow. Components Value per annum Wages and salaries R12 000 Exports R50 000 Rentals R22 000 Imports R63 700 Interest R9 300 Consumer spending R85 250 Government spending R33 200 Gross capital formation R6600 Using the table above, which approach can be used to calculate Jacaranda’s Gross Domestic Product? A. Income B. Production C. Expenditure D. Depreciation
The economy produces only two general types of products: Apples, and Bananas. Price and Quantity information of these items over a period are shown below: Year 2019 Year 2020 Product Output Average Price per Unit Output Average Price per Unit Apples 14 $5 12 $16 Bananas 14 $20 14 $20 Using year 2020 as the base year, Growth rate of Nominal GDP from year 2019 to year 2020 is ______%. (Cut off at the first decimal point. eg: Suppose that your calculated answer is 9.98, then, write 9.9.)
Question 2 (Mandatory) (1 point) * Nominal GDP -Real GDP 1000 800 600 400 200 1990 1995 2000 2005 2010 Years FIGURE 20-1 Refer to Figure 20-1. Which of the following years was used as the base year for constructing real GDP? 1995 2000 2003 2005 O 2010 Nominal and Real GDP (billions of dollars)
Year I Year 6 Year 9 Government Spending 591 852 1500 Subsidies 61 75 100 Indirect Taxes 84 98 102 Property Income carned overseas 75 87 150 Property income paid overseas 95 100 200 Imports 169 256 158 Exports 109 120 200 Depreciation 69 75 95 Consumption 678 987 1200 Investment 274 378 1000 1. GDP at Market Price Y=C+I+G+(X-M) (C-consumption, I-investment, G- government spending. X-export, M-import) Year 1 Year 6 Year 9
According to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: 21.43 14.34 5.08 United China Japan States b. Russia? % larger Copyright © McGraw Hill LLC. Permission required for reproduction or display. GROSS DOMESTIC PRODUCT (in U.S. $ trillion) % larger 3.86 2.87 2.83 1.70 1.27 Germany India Great Britain Russia Mexico Source: Gross Domestic Product 2020. The World Bank Group, March 2021 0.53 Sweden Instructions: Round your responses to the nearest whole number. a. Germany? 0.21 Greece 0.01 Haiti
Snack Year Price per Unit Quantity 2021 10 pesos 30 2022 15 pesos 40 Select one: Cheese Nominal GDP is 970 pesos in 2021. Real GDP is 970 pesos in 2022. GDP deflator is approximately 108.38 in 2022. GDP deflator is 90 in 2021. Price per Unit 15 pesos 10 pesos The table above describes production and price levels of Macroland in 2021 & 2022. According to this table, which one of the following is correct? (in this question, take 2021 as the base year in your calculations whenever necessary) Soda Quantity Price per Unit Quantity 15 20 6 pesos 25 6 pesos 20
Use the following composition of expenditure for the economy of a countrynamed the Republic of Tapuwa, for the year ended 2019 to answer thequestions below: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of theworld 300 Foreign payment from the rest of the world 250 Q1. Calculate the value of the country’s GDE (Gross DomesticExpenditure). Q2. Compute the value for the country’s GDP (Gross Domestic Product)at market price.
macroeconomics Use the following data to answer the questions below. All figures are in billions. 田 Proprietor's Income Net Exports 66 22 Dividends 32 Wages and Salaries Taxes on Production and Imports Undistributed Corporate Profits Personal Saving Consumption Receipts of factor income Payments of factor income Transfer Payments 446 36 42 40 490 20 12 24 Rent 28 Depreciation Social Security Contributions Interest 54 40 26 Personal Taxes 52 Corporate Income Taxes Corporate Profits Government Purchases 38 112 144 Net Private Domestic Investment 66 A. Calculate GDP by both the expenditures and the income approaches. B. Calculate NDP. C. Calculate NI in two ways. D. Calculate PI from NI E. Calculate DI and Personal saving rate.