Year nominal GDP (in billion) Real GDP and Real GDP per capita population (in million) GDP deflator 2000 9,951 88.72 2005 12,623 100 2010 14,499 110.99 2015 18,012 122.03 a. Which year is the base year? Justify your answer. b. Calculate the real GDP per capita growth from 2000 to 2015. Show your work! 282.296 296.115 309.733 322.583 real GDP real GDP per capita
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- Given the table below, calculate the population growth (number of individuals) in this country for 2010, 2015 and 2020. The result should be an integer number (no decimals). Round to the nearest number. E.g if the result is 350.4, write 350. If the result is 350.5, write 351. Number of individuals 2010 2015 2020 Births Deaths Immigration Emigration 5000 6000 7000 5500 5600 6000 850 2000 3000 450 500 600 Write the population growth (number of individuals) for 2010 in Blank #1. Write the population growth (number of individuals) for 2015 in Blank #2. Write the population growth (number of individuals) for 2020 in Blank # 3. Blank # 1 Blank # 2 Blank # 3Using the table below, determine the growth in real GDP from 1990 to 2005. Round your answer to the nearest whole percent. Year 1960 1975 1990 2005 Nominal GDP (billions of dollars) 543.3 1688.9 5979.6 13095.4 Real GDP (billions of 2005 dollars) 2859.5 4952.8 8225 13095.4The table below gives the country's GDP, population size, and price level over a two-year period. 2018 2019 Nominal GDP 8449 18374 Population 240 294 Price index 100 97.55 Given the information above, calculate the following: (f) The Real GDP in 2019 188.35 188.35 (g) Nominal GDP per capita growth rate between 2018 and 2019 117.4 117.4 (h) Real GDP per capita growth rate between 2018 and 2019 0.8198 0010o
- The table below gives the country's GDP, population size, and price level over a three-year period. 2018 2019 2020 Nominal GDP 14999 16866 23851 Population 213 291 337 Price Level 100 105 116 Given the information above, calculate the following: (d) The Real GDP in 2020 (f) Nominal GDP per capita growth rate between 2019 and 2020 % (e) Nominal GDP growth rate between 2018 and 2019 (g) Real GDP growth rate between 2018 and 2019 % (h) Real GDP per capita growth rate between 2019 and 2020 The economy is in short-run equilibrium in 2020 and the potential GDP of the economy is 37282. Given this information, calculate the following: (i) The output gap in 2020 (j) The output gap in 2020 if the price level was 125 instead of 116Determine the GDP trend in economic growth over the period of 1989 – 1999. Country/Area Year Unit Gross Domestic Product (GDP) Thailand 1989 Baht 1,924,426,113,246 Thailand 1990 Baht 2,263,299,209,116 Thailand 1991 Baht 2,583,490,817,016 Thailand 1992 Baht 2,935,677,642,139 Thailand 1993 Baht 3,263,426,000,000 Thailand 1994 Baht 3,689,090,000,000 Thailand 1995 Baht 4,217,614,000,000 Thailand 1996 Baht 4,638,604,000,000 Thailand 1997 Baht 4,710,310,000,000 Thailand 1998 Baht 4,701,553,000,000 Thailand 1999 Baht 4,789,826,000,000 Transport, storage and communication Wholesale, retail Agriculture, hunting, forestry, fishing (ISIC A-B) Other Mining, Manufacturing, Utilities (ISIC C-E) (ISIC D) trade, restaurants Total Manufacturing Construction and hotels (ISIC G- Activities Value Country/Area Year Unit (ISIC F) H) (ISIC I) (ISIC J-P) Added Thailand 1989 Percentage 9.8 15.5 16.1 28.9 9.7 10.6 8.2 11.9 Thailand 1990 Percentage -4.7 15.1 15.6 21.9 10.9 14 13.8 11.8 Thailand 1991 Percentage…The table below gives economic data for the small island economy of St. Artie's. All data was computed at the end of each year. Year GDP Deflator Nominal GDP 2017 100 2,000,000 2018 110 2,090,000 2019 115 2,190,000 2020 121 2,400,00 What was the Real GDP growth rate between the end of 2017 and the end of 2018? Group of answer choices 4.5% 10% -5% -10%
- Use the data below to find the growth of income per person (over the entire period, not an annual basis) between the two years listed. Year Real GDP Population Income per person 1990 S3,780,000 million 245 million Number 2010 $ 8,850,000 million 250 million Number Income per person grew by (in decimal percent, i.e. .32 not 32). NumberYear Real GDP per Capita 1985 6,000 1986 6,300 1987 6,700 1988 7,200 1989 7,850 1990 8,250 1991 8,450 1992 8,550 1993 8,575 1994 8,510 1995 8,370 1996 8,100 1997 7,950 1998 7,925 1999 7,960 2000 8,035 2001 8,155 The information above describes the real GDP per capita for a country for the period from 1985 through to 2001. I.…The United States gross national product in trillions of dollars for the latter half of the 1980s is given in the table below. Year 1985 1986 1987 1988 1989 GNP ($trillion) 4.02 4.23 4.52 4.88 5.20 1. Using technology, calculate the average rate of change for each year. You may, for example, make a table in a spreadsheet with Year, GNP, and Average Rate of Change, as the three columns. What are the independent and dependent variables? 2. Using technology, create a plot of GNP vs year. Does the data appear to be linear? Explain. 3. Using technology, construct a linear trendline and determine the R2 value. What is the trendline equation? Interpret the slope, including units. What is the R2 value? Is there a strong or weak correlation? 4. Using the trendline equation, create a spreadsheet table and second plot of GNP vs year, extending the data through 1995. What GNP does your trendline predict for 1993? Explain in the context of the problem. 5. In what year does the trendline predict the…
- GDP deflator = (Nominal GDP/Real GDP) x 100 Nominal GDP = Current Price x Current QuantityNominal GDP (2020) = 10 x 4,000 + 30 x 1,000 = 40,000+30,000 = 70,000Nominal GDP (2021) = 12 x 6,000 + 50 x 1,200 = 72,000 + 60,000 = 132,000 Real GDP = Base year price x Current QuantityReal GDP (2020) = 10 x 4,000 + 30 x 1,000 = 40,000 + 30,000 = 70,000Real GDP (2021) = 1..Year Real GDP Nominal GDP 2019 $15,292.67 $17,081.38 2020 $17,822.90 $18,350.11 2021 $18,521.37 $19,397.19 Refer to the table above. What is the growth rate in real GDP from 2020 to 2021? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.The following table shows data on a hypothetical country's Real GDP from 1970 through 1978: Real GDP Year (Billions of Dollars) 1970 465 1971 470 1972 475 1973 485 1974 510 1975 505 1976 495 1977 490 1978 500 The green line on the following graph shows the economy's long-term growth trend. Lise the blue points (circle symbol) to plot the Real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the Real GDP curve that delinitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the Real GDP curve that delinitely represents a trough. 550 540 Real GDP 530 520 510 Peak 500 490 Traugh Growth trend 480 470 460 450 1970 1971 1972 1973 1974 1975 1978 1977 1978 YEAR Calculate the percentage change in Real GDP in each of the years shown. (Hint: The…