(1) Year 1980 1985 1990 2000 2005 2009 a. $2686.9 Based on the above information, what is real GDP of 2005? b. $126.384 (2) Nominal GDP, c. $268.69 d. $12,638.4 Billions $ 2788.1 4717.5 5800.5 9951.5 12,638.4 14,256.3 (3) Real GDP, Billions $ 5839.0 6849.3 11,226.0 12,987.4 (4) GDP Price Index (2005= 100) 68.9 72.2 88.6 100.0 109.8 <
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- 1. Referring to the figures below, 1.0 gdp-gth 80 BPERMITS-YOY 0.8 60 0.6 - 0.4 40 0.2 20 0.0 -0.2 -20- -0.4 -0.6 -40 rel. vol. = 9.4 --0.8 -60 -1.0 1970 2000 2010 1960 1980 1990 2020 -8 -6 -4 -2 2 4 6. 8. TIME (year) LAG (quarters) Source: FRED/BEA characterize the relationship between the growth rate of GDP and the growth rate of building permits (BPERMITS-YoY) in terms of the following items: • Timing. • Direction. • Volatility. Include a brief description of each item in this list in your characterization. RATE (%/year) CROSS CORRELATION16- Which one of these will be deducted from gross output to determine the net output? a. Intermediate consumption b. Private income c. Factor income from abroad d. Total government spendingGross Domestic Product The U.S. gross domesticproduct (GDP) (in trillions of dollars) for selectedyears from 2005 and projected to 2070 can be modeled by y = 0.116x2-3.792x + 45.330, where xis the number of years after 2000. During what yearsbetween 2005 and 2070 was the gross domestic product no more than $23.03 trillion?
- Consider the following information given for calculation of different national income aggregates: Items Rs in crore Value of output 100000 Depreciation 6000 Indirect Taxes 6000 Subsidies 1000 Intermediate consumption 24000 Value added 76000 What will be the value of GNP at market prices as per the given information? Which of the following will be the value of NNP at market prices? Which of the following will be the value of GNP at factor cost? If disposable income is Rs 500 and saving Rs 100, what will be the average propensity to consume? If MPC= 1/2, what is the value of K (Investment multiplier)? What will be the value of NNP at factor cost as per the given information? What will be the value of GDP at market prices as per given information?The table below lists the prices from last year and the base year for a college-related basket of goods. Assume that the typical basket of goods for a college student consists of 200 gallons of gas, 60 pizzas, 45 6-packs, and 2 textbooks. Basket of College-Related Goods Basket of Goods Price Base Year (dollars) Price Last Year (dollars) Gasoline (per gallon) $ 1.70 $ 2.20 Pizza (per pizza) 7.85 Beer (per 6-pack) 6.88 4.20 4.10 Textbook (per book) 98.00 a. Using the values above, what is the rate of inflation between the base year and last year? % b. Assume that rather than buying textbooks for their courses last year, all students decided to buy online access cards at $100 per textbook. What is the rate of inflation between the base year and last year now? % 229.001) The data below shows the value of economic activities of a country in year 2017. Items RM (Million) Agriculture and mining Construction Income from abroad Manufacturing Gas and electricity Banking and finance 250 650 200 350 300 150 240 Government services Wholesales and retails Freight and transportation Income to abroad Depreciation Subsidies Indirect taxes 170 190 530 90 124 270 Calculate: (a) Gross Domestic Product at market price. (b) Gross Domestic Product at factor cost. (c) Gross National Product at factor cost. (d) National Income.
- Year 1995 1996 1997 1998 1999 2000 2001 2002 Select one: What was growth in real GDP in 2001? a. 2.85% Ob. 3.4% C. 5.32% Od. 0.53% 3.28% Nominal GDP (billions) $7,400.6 e. $7,813.2 $8,318.4 $8,781.5 $9,268.6 $9,872.9 $10,208.1 $10,383.1 Real GDP (billions) CPI (1983 = 100) 152.4 156.9 160.5 163.0 166.6 172.2 177.1 179.913 Which national income estimation method needs information such as indirect taxes, depreciation and intermediate consumption? a. Net output b. Income c. Expenditure d. Factor1. From the table below, gross domestic product equals: a. $1,110 b. $1,265 c. $1,470 d. $1,695 Personal Income Taxes $130 Government Purchases of Goods and $150 Services Gross Private Domestic Investment $230 Net Interest $75 Sales Taxes Net Exports of Goods and Services Personal Consumption Expenditures Depreciation $35 $55 $725 $175
- In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal GDP of R300. This year it produces 60 units of output at a price of R8,00 each. What is the percentage change in real GDP since the base year?(a) 5%;(b) 10%;(c) 20%;(d) 15%.From the following data calculate GNP at factor cost by Income Method & Expenditure Method Items Rs. in Crores Net Domestic capital formation Compensation of employees 500 1850 Consumption of fixed capital (Depreciation) 100 Govt. Final consumption Expenditure 1100 Private Final consumption Expenditure 2600 Rent 400 Dividend 200 Interest 500 Net Exports (-) 100 Undistributed Profits 900 Net Factor Income From Abroad (=income from abroad – income to abroad) (-) 50 Net Indirect Taxes (-indirect Tax - Subsidy) 250Production Year 2 50 120 Year 1 $1.00 $0.60 Year 2 $1.20 $0.60 Year 1 Good X 50 Year 3 60 Year 3 $1.20 $1.00 Good Y 100 140 1-Assume that this economy produces onlytwo goods Good X and Good Y. The value for this GDP in year 1 is 2-Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is 3-Assume that this economy produces only two goods Good.X and Good Y. The value for this economy's nominal GDP in year 2 is 4-Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's real GDP in year 2 is 5-Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is 6- Assume that this economy produces only two goods Good X'and Good Y If year 1 is the base year, the value for this economy deflator in year 2 is 7-Assume that this economy producesonlytwo goods Good Iand Good YIf year…