Price of a house          $120,000            $145,000 Number of houses produced           1000              1050       Price of a pair of shoe           $150              $170 Number of pairs of shoes produced      650,000          525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000    525,000   (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001

Q: Real GDP Nominal GDP GDP Deflator 246,849 103.2 268,914 100.7 257,861 264,308 266,194 105.9 241,646…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Gross Domestic Product (GDP) is: O All products received from foreign countries for resale in the…

A: Gross domestic product is the sum of consumption spending, investment spending, investment spending…

Q: 47. Exclude the method that is not used for determining GDP. 1. Method income 2. The method of value…

A: Economics refer to the study of the allocation of scarce resources in the most optimal way when the…

Q: Price of Quantity of cheese $5 Quantity of Wine Price of Year Cheese Wine 2018 2 Blocks $10 4…

A: Year Price of cheese Quantity of cheese Price of wine  Quantity of wine  2018 $5 2 $10 4 2019…

Q: 5. The gross domestic product is: a. 86,157.5 b. 88,404.5 c. 92,925.9 d. 95,708.2 e. 82,808.5

A: A country's gross domestic product is a metric of its economic performance. Countries with higher…

Q: Gross Domestic Product  a. In 1803 the United States purchased Louisiana and other territories…

A: GDP Deflator is an aggregate level measure of inflation than producer price inflation and retail…

Q: Calculate the value added if the value of output is $630 million and the intermediate consumption is…

A: According to the above given question we have the following values:- Value of output = $630 million…

Q: From the following data, calculate national income by value added (net output) method (Rs. In…

A: Given: Gross value of output at market prices (GVAMP) = Rs. 18,000 crores Value of intermediate…

Q: Gross Domestic Product  If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price…

A: Nominal GDP in 2005 = $13095.4 billion GDP deflator = 100  Nominal GDP includes both the growth and…

Q: Year Nominal GDP Real GDP GDP deflator 2012 $180,000 %24 100.0 2013 24 $215,000 110.0 2014 $260,000…

A: The GDP deflator, also called implicit price deflator, is a measure of inflation. It is the ratio of…

Q: The nominal GDP for 2016 was $17,500 and the real GDP was $13,000   Calculate GDP deflator

A: The data presented in the question is:- For 2016,  Nominal GDP = $17,500 Real GDP = $13,000 We have…

Q: In Foodland, the following products are produced in the economy: milk bread ham Price (USD) Quantity…

A: Nominal GDP is the sum of market value of goods and services produces in an economy during a…

Q: If the real GDP is $600 and price index is 125 calculate the nominal GDP operating '

A:

Q: The value of GDP deflator is 161.82 and the value of real GDP is $1300  Calculate the value of…

A: The given information is as follows:- GDP deflator = 161.82  Real GDP = $1300 The formula for GDP…

Q: Year Real GDP Nominal GDP Price Index 2000 $14,500 A 100 2001 $15,500 $17,000 B 2002 $20,000 117…

A: Nominal GDP is defined as the total amount of finished goods and services produced within the…

Q: GDP data for 2019 Item Quantity Price Fun 40 $2 Food 60 $3

A: Real GDP in 2020 , when 2019 is the base year:  Real GDP 2020 = Price (2019) * quantity (2020)…

Q: 1. A Toronto shoe manufacturer makes $250,000 in shoes from $100,000 in leather produced this year…

A: Dear student,  You have asked multiple questions in a single post. I am answering first question for…

Q: Year Real GDP Nominal GDP Price Index 2000 $14,500 A 100 2001 $15,500 $17,000 B 2002 S20,000 117…

A: The price index (GDP deflator ) is calculated as  Price index  = Nominal GDPReal GDP×100 We have to…

Q: Year Nominal GDP Price Index $ 3,166 100 2 3,402 104 3 3,774 108 4 3,989 112 Refer to the…

A: Answer: Let us use the following formula to find the real GDP: Price index=Nominal GDPReal…

Q: Nominal GDP Price Index Real GNP 12,223 157.00 800 155.00 14,622 165.46

A: Real GNP is the indicator of the level of real income in the economy and is being computed at the…

Q: If the nominal GDP is 900 and The Price index is 180 calculate the real GDP

A:

Q: The table below showsa country's potential Gross Domestic Product (GDP) and true GDP Yeare 1970e…

A: (i) In order to plot the following points on the graphical region, we will need two axes with one…

Q: Year Real GDP Nominal GDP Price Index 2000 $14,500 A 100 2001 $15,500 $17,000 2002 $20,000 117 2003…

A: GDP is affected by changes in the price level. An increase in price level reflects an increase in…

Q: Value added by firm A is $2300 million Calculate the value of domestic sales if exports of firm is…

A: The given information is as follows:- Value added by firm = $2300 Million Exports of the firm = $750…

Q: Calculate intermediate consumption if value added is $3900 and value of output is $5000

A: The information being given is:- Value added = $3900 million Value of output = $5000 million We have…

Q: Nominal GDP (NGDP) Real GDP (RGDP) Estimated Resident Population by Age and Sex (1991+) (Annual-Mar)…

A: Government investment is a part of the nominal GDP. Since, no other measure is given under nominal…

Q: Year Price of Dates Quantity of Dates Price of fish Quantity of Fish 2018 RO 50 100 RO 30 100 2019…

A: GDP: It refers to the goods and services which are produced in an economy. The GDP shows the growth…

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A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: What is the nominal GNP for year 2018? Refer to the corresponding letters A to J. Value added of…

A: Nominal GNP is calculate by computing GDP and adding net factor or primary income from abroad or…

Q: 1- The value for GDP in billions of dollars 2- The value for GNP in billions of dollars 3- The value…

A: GDP refers that Gross domestic production which means total value of all final goods and services…

Q: The real GDP is $2300 million and the value of Nominal GDP is $2700 million Calculate GDP deflator

A: The given information is as follows:- Nominal GDP = $2700 million Real GDP = $2300 million We need…

Q: Nominal GDP (NGDP) Real GDP (RGDP) Estimated Resident Population by Age and ata Sex (1991+)…

A: Real GDP is an estimation of financial yield that represents the impacts of swelling or deflation.…

Q: If the real GNP for current year is 83 and the nominal GNP for current year is 194 calculate the…

A:

Q: If nominal GDP is $400, real GDP is $200, then calculate price level

A: Price level - Average price of all the goods in an economy.

Q: The value of the gross domestic product in 2000, in terms of 1990 prices, was (A) $600. (B) $700.…

A: Formula for GDP deflator can be calculated by dividing the nominal GDP by real GDP.

Q: Calculate the domestic sales by firm A if value added by firm is $16,000 , exports by firm is $9000…

A: Value added by firm A=$16,000 Exports by firm A=$9000 Purchase by firm A=$3000 Value added is one of…

Q: year real GDP Nominal GDP GDP deflator Price ($) per nutmeg Price ($) per drapes 2013 2700…

A: GDP is significant on the grounds that it gives data about the size of the economy and how an…

Q: For London the imports and exports recorded were $2800 and $3100 million respectively Calculate net…

A: The information being given is:- Imports of London = $2800 Exports of London = $3100 We have to…

Q: If the nominal GDP is $1300 and The Price index is $290 calculate real GDP

A:

Q: Year Nominal GDP Real GDP Price Index 1 5,200 4,800 5,500 112 3 5,740 5,000 Refer to the table. (GDP…

A: The formula is:Real GDP = nominal GDPPrice index×100  =5500112*100=4910.71429=4910.71

Q: If exports and imports is US are $450 million and $380 million respectively Calculate the value of…

A: Exports are the products sold to foreign country by the domestic country.Imports are the products…

Q: If nominal GDP is $15000 million and real GDP is 12,000 million Find GDP deflator

A: The information being given to us is as follows:- Nominal GDP = $15,000 million Real GDP = $12,000…

Q: Compute the nominal GDP Year: 2021 Value added of agriculture, fishery and forestry sector Value…

A: Nominal GDP = C+I+G+NX

Q: GDP Table Transfer payments 32 Government purchases 160 Personal taxes 76 Corporate Income taxes…

A: In income approach: Total national income = It is the sum of rent, profit and salary.

Q: If GDP deflator is 177 and real GDP is $16000 million Calculate the value of Nominal GDP

A: The information being given is:- GDP deflator = 177 Real GDP = $16,000 million We have to calculate…

Q: 2. Which of the following variables is independent of the choice of base year? a. Nominal GDP b.…

A: In the calculation of an index, a base year is chosen to enable inter-year comparisons.

Q: (HF19) The country of Singsville only produces apples. In 2007, the price of apples was $4 and 178…

A: Since the Question posted in the first picture is not visible therefore continuing with the question…

Q: Nominal Year ČPI Real GDP GDP 1980 $2857.31 82.38 1981 $3207.04 90.93 1982 $3343.79 96.55 1983…

A: The measure that depicts the final values of goods and services being produced in an economy during…

Q: If intermediate consumption is $40 million and value of output is $50 million Find the value added

A: The given information is as follows:- Intermediate consumption = $40 million Value of output = $50…

Q: Year Nominal GDP Real GDP Price Index 1 4,900 4,800 2 5,000 5,000 5,400 5,100 Refer to the table.…

A: The GDP Price Index computes the annualized change in the prices of all GDP-included goods and…